General
Mak Co-operative Society financial performance excites Members: More strategies proposed for continuous growth
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.
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.
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.
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.
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.
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.
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.
The Vice Chancellor, Prof. Barnabas Nawangwe on 20th April 2026 inaugurated the Second Makerere University Health User Committee (Mak-HUC). The Committee was established by the Vice Chancellor in 2022 as part of his strategic mandate to strengthen and oversee the University Hospital services delivery.
Chaired by Dr. Allen Kabagenyi from the College of Business and Management Sciences (CoBAMS), Mak-HUC has as its members; Prof. Josaphat K. Byamugisha-Director Makerere University Health Services (MakHS) and Dr. Daniel Ronald Ruhweza-Department of Law and Jurisprudence, School of Law.
Other members include; Dr. Arthur Kwizera-Department of Anaesthesia and Critical Care, College of Health Sciences (CHS) and Makerere University Academic Staff Association (MUASA) Representative, Dr. Lillian Tukahirwa-Makerere University Administrative Staff Association (MASA) Representative, Mr. Godfrey Othieno- National Union of Educational Institutions (NUEI) Representative, and as Secretariat, Ms. Kevin M. Nabiryo-Directorate of Human Resources.
The 2nd Mak-HUC has been appointed for a period of four years effective 1st January 2026 with a mandate to: Guide, monitor and oversee delivery of health services by MakHS; Represent the interests and concerns of staff and students that use MakHS; Advise on alignment with sustainable health financing and insurance models; Strengthen systems for fraud prevention, digital transformation and access to specialized treatment, among other responsibilities.
The 1st Mak-HUC was chaired by Dr. Allen Kabagenyi and had as members; Prof. Josaphat Byamugisha, Dr. Fred Mayambala, Dr. Zahara Nampewo, Mr. Othieno Godfrey, Mr. Apunyo Paul Okiria and Ms. Ikiriza Racheal. Milestones during the first era included; Outpatient Department visits growth from 4,802 (2022) to 7,388 (Nov 2025) for staff and 14,641 (2022) to 19,069 (Nov 2025) for students.
Others milestones included; Commissioning of a fully equipped Operating Theatre, Establishment of a modern Imaging Hub, Development of a fully functional Audiology Unit, Expansion of the Temporal Bone Laboratory, Launch of the Olink Proteomics Platform and Enhancement of the Dental Unit with 32 dental chairs and experienced personnel.
Related article: https://news.mak.ac.ug/2025/12/three-years-of-impact-makerere-university-health-user-committee-presents-status-report/
By Gerald Ochwo
On Monday, 20th April 2026, the Academic Registrar, Prof. Buyinza Mukadasi and his Senior Management Team (SMT) convened to witness the official handover of office within the Senate Division. The ceremony, attended by representatives from the Directorate of Internal Audit, marked an important moment of transition and continuity in the University’s academic administration. The outgoing Deputy Academic Registrar in charge of the Senate Division, Mrs. Patience Mushengyezi, formally handed over office to Ms. Gladys Khamili, who assumes the role in an acting capacity.
In his remarks, Prof. Buyinza Mukadasi underscored the significance of the transition, situating it within a broader institutional context. He observed that the Department of the Academic Registrar has, over the years, experienced a steady wave of retirements, particularly among senior staff. He noted that this trend is expected to continue, with a considerable number of experienced personnel due to retire within the next two years.
While acknowledging the institutional gaps created by these departures, he reassured staff that the University is actively addressing the situation to ensure the continued efficiency of the Department.
“You will agree with me that the Department has, over the years, witnessed the retirement of many senior colleagues. Their departure leaves behind a significant institutional gap. However, the University is fully aware and will address it through targeted recruitment,” he stated.
In her detailed handover report, which she delivered verbatim, Mrs. Patience Mushengyezi reflected on her tenure with gratitude and a deep sense of fulfillment. She paid tribute to the Vice-Chancellor, in his capacity as Chairperson of the University Senate, for his steadfast guidance and support throughout her service. She also expressed sincere appreciation to the Academic Registrar, Prof. Buyinza Mukadasi, for his pragmatic and results-oriented leadership.
“I remain deeply grateful for the support from the Vice-Chancellor and all members of Senate for the trust they accorded me. I equally thank the Academic Registrar, Prof. Buyinza, for his results-oriented approach to administration. His support enabled us to achieve remarkable progress under the DARP (Digitalization of Academic Records and Processes) Project, including the successful digitalization of Senate minutes, some dating as far back as the 1990s, which are now easily retrievable,” she noted.
Her remarks painted a picture of dedication, progress, and institutional strengthening, leaving behind a legacy that will continue to benefit the University.
In her acceptance remarks, Ms. Gladys Khamili expressed heartfelt appreciation to the Academic Registrar for the confidence placed in her. She acknowledged the weight of responsibility that comes with the role and pledged her commitment to upholding the standards and gains established by her predecessor.
She paid glowing tribute to Mrs. Mushengyezi’s exceptional service, noting that her impact within the Senate Division is both profound and enduring.
“I am truly honored by the trust bestowed upon me. I am committed to building on the strong foundation laid by Mrs. Mushengyezi, whose remarkable contribution and dedication will continue to inspire us all,” she said.
The ceremony not only marked the end of a distinguished era in the Department of the Academic Registrar, but also the beginning of a new phase, underscored by continuity, renewal, and a shared commitment to excellence in academic administration at Makerere University.
Gerald Ochwo is the Liaison and Communication Officer, Office of the Academic Registrar
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