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Mak Co-operative Society financial performance excites Members: More strategies proposed for continuous growth

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On 26th February 2025, members of Makerere University Multi-Purpose Co-operative Society (MUMCS) convened for the Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans.

MUMCS has realised significant growth and financial stability, with a strong commitment to its members. The pay incentive bonus, remains at 14.5% of surplus returns until a future review. As the Society continues to grow and expand its services, it is expected to play an increasingly important role in promoting financial inclusion and economic development in Uganda.

Prof. Barnabas Nawangwe (Left) delivers the Chairperson's address alongside Prof. Juma Kasozi (Right). Makerere University Multi-Purpose Co-operative Society (MUMCS) Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans, 26th February 2025, Main Hall, Kampala Uganda, East Africa.
Prof. Barnabas Nawangwe (Left) delivers the Chairperson’s address alongside Prof. Juma Kasozi (Right).

MUMCS has 136 active members who are members of staff at Makerere University. MUMCS has a Board of Directors and Secretariat that works with the Investments Committee, Loans Committee, Finance Committee, Welfare Committee, and the Supervisory Committee.

The Chairperson of MUMCS, Prof. Barnabas Nawangwe welcomed the Members (physically present at Makerere University Main Hall and those who were following virtually via zoom) to the AGM. He encouraged the Members to continue saving and investing in the cooperative society.

Left to Right: Prof. Winston Tumps Ireeta, CPA David Ssenoga, Prof. Barnabas Nawangwe and Prof. Juma Kasozi. Makerere University Multi-Purpose Co-operative Society (MUMCS) Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans, 26th February 2025, Main Hall, Kampala Uganda, East Africa.
Left to Right: Prof. Winston Tumps Ireeta, CPA David Ssenoga, Prof. Barnabas Nawangwe and Prof. Juma Kasozi.

To kick start the AGM, the Chairperson made reference to the Agenda, which had been shared ahead of time to the respective Members. The Agenda focused on critical issues such as achievements, dividend allocation, recruitment plans, loan repayment strategies, potential investment opportunities, among other items. Following the adoption of the agenda during the AGM, the Chairperson invited the Secretary- Prof. Tumps Winston Ireeta, and the Treasurer- Prof. Juma Kasozi to present to the AGM key highlights.

Prof. Kasozi confirmed that the performance of the society was satisfactory. The Treasurer’s report, highlighted the society’s significant progress in 2024. The society disbursed loans amounting to UGX 1 billion, while savings accrued amounted to UGX 1.8 billion, and share value stood at UGX 386 million. The society’s total assets available for investment are worth UGX 2.25 billion, with a return on investment of 12.95%. The AGM was informed that the Cooperative’s balance sheet exceeded UGX 2billion, a testament to its robust financial position.

Prof. Juma Kasozi (Right) alongside Prof. Barnabas Nawangwe (Left) presents the Society's performance. Makerere University Multi-Purpose Co-operative Society (MUMCS) Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans, 26th February 2025, Main Hall, Kampala Uganda, East Africa.
Prof. Juma Kasozi (Right) alongside Prof. Barnabas Nawangwe (Left) presents the Society’s performance.

Summary of the Key statistics:

  • Total loans disbursed: UGX 1 billion
  • Savings: UGX 1.8 billion
  • Share value: UGX 386 million
  • Total assets available for investment: UGX 2.25 billion
  • Return on investment: 12.95%
  • Unit trusts: UGX 801,127,970 (ICEA LION) and UGX 608,138,265 (UAP OLD MUTUAL)
  • Surplus: UGX 166 million
  • Dividends: The payment of dividends not exceeding 10% of the surplus.

The Auditor’s report was presented, confirming that the society’s financial statements provide a true and fair view of its financial position as of December 31, 2024. The Auditor commended the society’s management for their excellent work in managing the society’s finances.

“I commend the Board and Secretariat for having a well-managed and governed society. Your scheme is one of the best. We are glad that Makerere University Multi-Purpose Co-operative Society, the balance sheet is above UGX 2 billion,” CPA David Ssenoga said.

The Society Auditor, CPA David Ssenoga. Makerere University Multi-Purpose Co-operative Society (MUMCS) Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans, 26th February 2025, Main Hall, Kampala Uganda, East Africa.
The Society Auditor, CPA David Ssenoga.

During the AGM, members proposed the following strategies to spur the continuous growth of MUMCS:  Undertaking sensitization, publicity and mobilization drives/campaigns, development of publicity materials such as brochures, encouraging members to take loans, presenting proposals to reward bonus incentives to the highest savers and members with a significant number of shares, as well as providing financial incentives to members who take loans and repay them faithfully. In addition, the strategies stated in the MUMCS Strategic Plan will be implemented to ensure financial diversity and sustainability.

The Chairperson of the Supervisory Committee, Prof. Fredrick Jones Muyodi presented the committee’s report, highlighting the society’s compliance with the Co-operative Societies Act and the by-laws. Other Members of the Supervisory Committee include: Dr. Hamidah Nakato and Dr. Fred Edgar Nabutanyi. The Supervisory Committee reported that during its meetings, it reviewed various activities undertaken by the Board of Directors. They noted that since the AGM meeting held in February 2024, several achievements had been realized. These included the approval of new bylaws, a revised credit policy, and the establishment of the MUMCS office.  The Supervisory Committee reported that 12 members joined MUMCS in 2024. The Committee appreciated Mr. Raymond Nsereko for developing the MUMCS logo and acknowledged Ms Ritah Namisango for coordinating the branding of the MUMCS office.

Chairperson of the Supervisory Committee, Prof. Fredrick Jones Muyodi presents his report. Makerere University Multi-Purpose Co-operative Society (MUMCS) Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans, 26th February 2025, Main Hall, Kampala Uganda, East Africa.
Chairperson of the Supervisory Committee, Prof. Fredrick Jones Muyodi presents his report.

In their report, the Supervisory Committee presented the proposed candidates for consideration as Members of the Vetting Committee namely:  Prof. Helen Nambalirwa Nkabala, Prof. Lawrence Mugisha and Dr. Alex Okello.

It was gratifying to note that the AGM unanimously agreed to have the Vetting Committee constituted as per the proposed names.

The Vetting Committee is expected to develop the Fit and Proper test for all applicants vying for the positions on the Board of Directors and the Supervisory Board, advertise the positions and administer the Fit and Proper test (written through Nomination Form and Oral), and present the successful applicants to MUMCS members for elections.

Ms Ritah Namisango speaks on behalf of the Welfare Committee. Makerere University Multi-Purpose Co-operative Society (MUMCS) Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans, 26th February 2025, Main Hall, Kampala Uganda, East Africa.
Ms Ritah Namisango speaks on behalf of the Welfare Committee.

On behalf of the Welfare Committee, Ms Ritah Namisango applauded the Board and Secretariat for implementing the Welfare Policy. The Members of the Welfare Committee include: Michael Kasusse, Ritah Namisango and Oscar Mugula. She noted that with the implementation of the Welfare Policy, Members are in position to receive support towards Weddings, Medical obligations, and bereavement as per the terms and conditions specified in the policy. Noting that the society exists to advance the welfare of its members, she thanked the AGM for approving the proposed UGX 10million for such purposes.

The Board informed the AGM that in compliance with the rules and regulations that govern the sector, various policies including human resources, anti-money laundering, and procurement are being developed for MUMCS.

In his concluding remarks, the Chairperson of MUMCS, Prof. Nawangwe acknowledged the cooperative’s impressive financial returns, noting that it outperformed other savings schemes in terms of interest. He also urged members to avoid unnecessary withdrawals, emphasizing the long-term benefits of keeping their savings within the cooperative society. He commended the team responsible for the cooperative’s success, including the Secretariat and Fund managers.

Ritah Namisango
Ritah Namisango

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AR Department Bids Farewell to Mr. Ssentongo and Ms. Akoli

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Mr. Charles Ssentongo (C) and Ms. Betty Akoli (3rd R) are joined by Staff and Family to cut cake at the farewell luncheon on 18th September 2026. Farewell Luncheon held by Department of Academic Registrar in honour of Mr. Charles Ssentongo, Deputy Academic Registrar – Undergraduate Admissions and Records and Ms. Betty Akoli, Assistant Academic Registrar presided over by Ag. Academic Registrar Ms. Prossie Nakayiki, 18th September 2026, Senate Conference Hal, Level 4, Senate Building, Makerere University, Kampala Uganda, East Africa.

By Gerald Ochwo

On Friday 18th September 2026, the Department of the Academic Registrar, Makerere University, held a befitting farewell ceremony in honour of Mr. Charles Ssentongo and Ms. Betty Akoli, who have retired from University service upon attaining the mandatory retirement age of 60 years.

Mr. Ssentongo retires as Deputy Academic Registrar in charge of Undergraduate Admissions and Records, after 26 years of dedicated service to the University, a journey he began in 2000. Ms. Akoli retires as Assistant Academic Registrar.

Ms. Prossie Nakayiki (L) poses with Mr. Ssentongo (C) and Ms. Akoli (R) shortly after presenting them with their plaques. Farewell Luncheon held by Department of Academic Registrar in honour of Mr. Charles Ssentongo, Deputy Academic Registrar – Undergraduate Admissions and Records and Ms. Betty Akoli, Assistant Academic Registrar presided over by Ag. Academic Registrar Ms. Prossie Nakayiki, 18th September 2026, Senate Conference Hal, Level 4, Senate Building, Makerere University, Kampala Uganda, East Africa.
Ms. Prossie Nakayiki (L) poses with Mr. Ssentongo (C) and Ms. Akoli (R) shortly after presenting them with their plaques.

The farewell, held in the Senate Building Conference Hall, was presided over by Ms. Prossie Nakayiki, the Acting Academic Registrar, and was attended by members of the Senior Management Team and staff of the Academic Registrar’s Department.

In recognition of their distinguished and spotless service, the two retirees were awarded institutional plaques and assorted gifts from the Department and individual members of staff.

Mr. Ssentongo and Ms. Akoli receive gifts from staff of their former Units including Mr. Justus Karegyeya (2nd L) the Ag. Deputy Academic Registrar, Undergraduate Admissions and Records. Farewell Luncheon held by Department of Academic Registrar in honour of Mr. Charles Ssentongo, Deputy Academic Registrar – Undergraduate Admissions and Records and Ms. Betty Akoli, Assistant Academic Registrar presided over by Ag. Academic Registrar Ms. Prossie Nakayiki, 18th September 2026, Senate Conference Hal, Level 4, Senate Building, Makerere University, Kampala Uganda, East Africa.
Mr. Ssentongo and Ms. Akoli receive gifts from staff of their former Units including Mr. Justus Karegyeya (2nd L) the Ag. Deputy Academic Registrar, Undergraduate Admissions and Records.

Mr. Ssentongo and Ms. Akoli’s retirement follows that of other senior members of the Department, including Mrs. Patience Mushengyezi, who retired earlier this year.

The Department of the Academic Registrar remains deeply indebted to Mr. Ssentongo and Ms. Akoli for their highly committed, exemplary, and dedicated service to Makerere University. We wish them a happy, healthy, and fulfilling retirement.

Ms. Betty Akoli receives a gift from a former colleague. Farewell Luncheon held by Department of Academic Registrar in honour of Mr. Charles Ssentongo, Deputy Academic Registrar – Undergraduate Admissions and Records and Ms. Betty Akoli, Assistant Academic Registrar presided over by Ag. Academic Registrar Ms. Prossie Nakayiki, 18th September 2026, Senate Conference Hal, Level 4, Senate Building, Makerere University, Kampala Uganda, East Africa.
Ms. Betty Akoli receives a gift from a former colleague.

We celebrate you.

More photos from the event: https://flic.kr/s/aHBqjD5btz

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Prof. Sarah Ssali shares institutional best practices ahead of The Trust Summit

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Prof. Sarah Ssali, Panelist, Virtual Round Table on Restoring Trust in Academia and the Knowledge Economy, September 15, 2026. Graphic: X/@GTSummit2026

Prof. Sarah Ssali the First Deputy Vice Chancellor in charge of Academic Affairs (DVCAA) at Makerere University was one of the panelists that addressed the complex challenges facing African higher education during a Virtual Round Table on Restoring Trust in Academia and the Knowledge Economy held September 15, 2026. The event was organised by Strathmore University as part of the pre-summit events for The Trust Summit (TTS), due to be held in Nairobi, Kenya from October 21-23, 2026.

She was also welcomed in her capacity as the Director of the African Research Universities Alliance (ARUA) Centre of Excellence in Notions of Identity, a platform she used to deliver warm regards from the Vice Chancellor, Prof. Barnabas Nawangwe. Other panelists included; Dr. Vincent Ogutu-Vice Chancellor, Strathmore University and Prof. Gilbert Kokwaro-Director, Institute of Healthcare Management, Strathmore University Business School, while the Moderator was Dr. Maureen Syallow-Senior Lecturer, Strathmore University.

In her submission, Prof. Ssali emphasised the need to understand that universities are working in a turbulent times, and do not deserve to be at the receiving end of some of the challenges being ascribed to them. She added that challenges affecting society ought to be handled in partnership with other stakeholders and key players.

An example of this kind of criticism is on the question on the quality and integrity of degrees that has come up severally and is being fueled by the fact that not many graduates can find gainful employment after completing university.

“We have many more people living longer, getting educated, and chasing fewer jobs. For example, in the case of Uganda, we graduate around 40,000 students per year, but only 700 jobs are being created in the public sector per year” she noted.

Turning to the need to maintain standards and trust, Prof. Ssali outlined the rigorous systems already in place. These include holistic curriculum development involving stakeholders such as the National Council of Higher Education, Government Ministries, and the National Planning Authority.

Prof. Ssali also highlighted the importance of quality assurance, international benchmarking, and constant evaluations. She nevertheless conceded that despite having all these efforts in place, universities still face immense pressure from ranking systems and the need to prove their worth.

Reflecting on the historical debate regarding the role of an African university, she contrasted the school of thought advocating for global competitiveness with that emphasising practical relevance to local development challenges, concluding that taking the middle path; globally competitive and locally relevant, remains the viable option.

Addressing the issue of trust directly, Prof. Ssali noted that universities, just like the aviation and healthcare industries, are more concerned with what systems are in place to correct any errors should they arise.

She explained that just as one plane crash does not shut down the aviation industry, a single failure in a university does not warrant shutting it down. Instead, the focus should be on checking the black box, correcting errors, and improving standards to ensure the institution continues to serve its purpose.

Elvis Lubanga, Makerere University, Kampala Uganda, East Africa.
Elvis Lubanga

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“We are moving in the right direction” Prof Nawangwe to Press

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Seated: Prof. Barnabas Nawangwe (C) flanked by Prof. Sarah Ssali (2nd L) and Prof. Moses Musinguzi (2nd R), Members of Management and other officials (Seated and Standing) at the Press Conference on 15th September 2026. Vice Chancellor's Press Conference, VC's Boardroom, Main Building, Kampala Uganda, East Africa.

Addressing members of the Media at the Vice Chancellor (VC)’s September 15, 2026 Press Conference, Prof. Barnabas Nawangwe shared that Makerere University rose 295 places moving from 1,071st in 2025 to 776th in the July 2026 Webometrics Ranking of World Universities. This is a noteworthy improvement on a global scale and on continental level, where the university moved from 13th place earlier this year to 11th.

Still in the right direction, the number of graduate students completing their studies at Makerere has nearly doubled over the past five years as the University steps up efforts to improve training and research output. The completion rates have increased from 1,588 in 2023 to 1,874 in 2024, 2199 in 2025 and 2,922 in 2026.

The Vice Chancellor attributed this growth partly to government funding and digital systems that have been set up to track student progress.

Improving the Academic Environment

In alignment with VC, the First Deputy Vice Chancellor in charge of Academic Affairs (DVCAA), Prof. Sarah Ssali assured the media that a number of quality assurance measures have been put in place to improve the university’s core functions. These range from assessment forms that enable students to evaluate their courses and provide feedback that can be used to improve teaching and learning as well as research environments.

In line with digitalisation of University processes, Prof. Ssali noted that the Academic Management Information System (ACMIS) enables supervisors, colleges and University Management to identify delays in student progress and take corrective action.

The system currently empowers students to track their academic progress and print their own testimonials, and in future, transcripts, without having to queue up. These services are accessible by students who have fulfilled their tuition obligations.

Infrastructure Development

The Acting Second Deputy Vice Chancellor in charge of Finance and Administration (DVC F&A) and Principal, College of Engineering, Design, Art and Technology (CEDAT), Prof. Moses Musinguzi, shared that the university has undertaken extensive infrastructure expansion and renovation projects, with funding from government, philanthropists and donors.

“One of the infrastructures being the building that is going to house the graduate school, among others” he elaborated.

Research News – FLOWERS Project

Makerere University prides itself as a thought leader in knowledge generation for societal transformation and development. Makerere researchers and partners have launched the FLOWERS Project — Facilitating Local Organic Waste Exchange for Regenerative Systems. Led locally by Assoc. Prof. Charles B. Niwagaba, the two-year project (2026–2028) aims to turn restaurant food waste in Kampala into animal feed and organic fertiliser. Project Kick-off Meeting: https://news.mak.ac.ug/2026/09/makerere-partners-kick-off-flowers-project-to-turn-restaurant-waste-into-a-regenerative-resource/

Upcoming Events highlighted

Makerere Marathon
The sixth edition of the Makerere University Marathon will take place on Sunday, 27 September 2026, starting and finishing at Freedom Square. Marathon kits are available at UGX 50,000 and can be purchased online via https://shorturl.at/Vjovo

The Annual Makerere Guild Medical Camp
The camp will be held from 17th to 18th September 2026, starting at 8:00 a.m. to 5:00 p.m., in the Freedom Square. The Camp is organised by Guild leadership under the Office of the Dean of Students. Link: https://events.mak.ac.ug/events/2026/09/17/816

The Press Conference was graced by Members of Management, Staff and the media fraternity who were all appreciated for their contribution informing the public about developments at Makerere. This press briefing is part of the media engagements organised by the university Public Relations Office aimed at fostering open communication lines with the public through the media. It happens every two months with the previous one having taken place on 15th July 2026.

Please see Downloads for the Press Statement and its supporting documents.

Photography by Benite Uwase, Public Relations Office, Makerere University

Elvis Lubanga, Makerere University, Kampala Uganda, East Africa.
Elvis Lubanga

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