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.
Makerere University has today Wednesday, 9th June 2025 officially unveiled NCBA Bank Uganda as the Platinum Sponsor of the Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon. Formerly known as a fun run, the initiative was rebranded on 27th March 2025 during the launch of its Fifth Edition. This year’s event, #MakRun2025, is slated for 17th August 2025 under the theme “Run the Hills for the Future”.
Addressing the Media at a press conference this afternoon, the MakEF Board Chairperson, Dr. Maggie Kigozi remarked, “We are deeply honoured and excited to unveil NCBA Bank Uganda as the Platinum Sponsor of #MakRun2025, with a landmark commitment of UGX 1.45 billion over the next five years.”
Dr. Kigozi further described the unveiling as “a strategic partnership built on shared values and a common vision for inclusive education and sustainable impact,” adding that it would “fast-track the establishment of a fully equipped Disability Support Unit for students living with disabilities, and to build a sustainable pool of funds to support Economically Disadvantaged Students.”
Appreciating the generous sponsorship, the Vice Chancellor, Prof. Barnabas Nawangwe acknowledged that NCBA Bank had not only made history as the biggest corporate sponsor of #MakRun to date but also aligned with Makerere’s vision to improve the quality of student life. “This is a powerful gesture of trust in our mission and a demonstration of deep corporate citizenship”, he added.
Prof. Nawangwe further thanked NCBA for recognizing that an investment in Makerere University is an indirect investment in the future of Uganda. “The Makerere Marathon is not just a race. It is a movement to establish a fully-fledged Disability Support Unit for students living with various forms of disabilities, and to build a sustainable fund for Economically Disadvantaged Students.”
The Vice Chancellor therefore rallied staff, students, alumni, partners and friends of Makerere to match NCBA’s generous support with vigour and commitment, so as to make #MakRun2025 the most impactful edition since its founding.
The Chief Executive Officer, Mr. Mark Muyobo thanked Makerere University for giving NCBA Bank Uganda the opportunity to play its part in “shaping Uganda’s future one student, one community, one strength at a time,” adding that #MakRun is a symbol of hope for students living with disabilities as it speaks to Makerere’s core values of inclusion, equity, and excellence.
On a rhythmical note, Mr. Muyobo remarked that the #MakRun2025 theme is “not just about finishing lines, it is about opening doors; giving opportunities to those who are disabled. It is about promoting active lifestyle.”
#MakRun2025 will for the first time feature a full 42.2km marathon race with international accreditation and professional timing along a dedicated traffic-free route.
“These are not just upgrades, these are bold steps towards building a world-class international marathon right here in Kampala. We are proud to be the wings at your back as you take this leap because when Makerere University, the beacon of higher learning in Uganda grows stronger, the ripple effects are felt across the region and across the continent” Mr. Muyobo affirmed.
To officially seal the deal, a Memorandum of Understanding was officially signed between Makerere University and NCBA Bank Uganda, and thereafter, a dummy cheque of UGX 1.45 billion was presented to Dr. Maggie Kigozi as the Vice Chancellor, Members of Management and NCBA staff witnessed.
General
Directorate of Graduate Training Empowers PhD Supervisors with Academic Supervision Training
By Moses Lutaaya
The Directorate of Graduate Training (DGT) in conjunction with CARTA’s Emerging and Re-emerging Infectious Diseases (TERID) Research Hub and the East– Spark Project completed a two days Doctoral (PhD) academic supervisors training under the theme: “Empowering Academic Supervision Training in Eastern Africa: Sparking Potential, Advancing Research, and Knowledge (EAST-SPARK).”
The training took place between 2nd and 3rd July 2025 at the College of Business and Management Sciences’ (COBAMS) School of Business conference hall.
In his opening remarks, the Director of Graduate Training Prof. Julius Kikooma challenged the team to set clear and manageable objectives for graduate students under their supervision so that they can complete their doctoral studies on time.:
“Set expectations at the beginning of the research journey of PhD students under your supervision. Resist working with students that are not objective. Set a time frame with in which the student is able to do their research so that they are able to finish their doctoral studies on time.”
He added, “The issue of supervising graduate research is very vital because there needs to be seamless progression of the graduate students.”
Prof. Kikooma further highlighted that the target in the strategic plan is to have 30% graduate students enrolled in the next five years. Currently, it is about 17%.
“We need to get everything right in this training. Our biggest issues are in the supervision process flow of the graduate students. Graduate supervisors need to listen to students and equally the students need to listen to the supervisors. The graduate supervision journey is simple with open communication and immediate feedback between the two parties.”
This will help us in creating a new breed of academia and researchers that Makerere university and the country as a whole need.”
Prof. Kikooma further added “Take the excellence you have to represent the university. Ensure you have all they policies on your fingertips so that you guide the students well.”
In his remarks, Prof. Ibrahim Okumu (representing the Principal, COBAMS) said that such a training was necessary and it was a right move towards standardization of doctoral training in the region.
“What does it take to standardize doctoral and graduate studies? We need to create unison in the region and learn by doing. Doctoral studies are vital and cannot be taken for granted. We need to continue creating critical thinkers ready to nature research programs. These trainings are enablers in this journey.”
He added, “Let us blend the old and young birds in this training so that we share knowledge and experience to nature and grow the dreams of the doctoral students. Nature the inner person, not imposing yourself on to the student. Enable them to open up while doing their research and they will have a good and seamless doctoral academic journey.”
Dr. Drago Kato Charles, a trainer and a senior Lecturer at the Department of Biomedical Laboratory Technology at CoVAB said, “These trainings are continuous professional development programs aimed at refreshing doctoral supervisors every now and then. They are vital and needed by the mixture of the young, intermediate and senior supervisors.”
He added, “These senior supervisors share knowledge and experience on what is going on in the world of education. The young come to learn from old supervisors. The goal is to increase completion and quality of the PhD output. In totality, such a training aims to improve quality and mentorship on how to facilitate and handle graduate student supervision.”
He added that the trainees were taking the obtained skills to their schools and colleges to produce more quality doctoral and graduate students which would lead to growth of economies since every country needs PhD researchers to drive economic transformation and policy developments as well as implementation.
Dr. Peter Ssenkusu, a senior lecturer in the Department of Foundations and Curriculum studies in the School of Education said, “The training modules are extensively researched. The areas covered are very pertinent for doctoral supervision.”
Dr. Stephen Ojiambo Wandera, a facilitator and a Senior Lecturer at the Department of Population Studies in the School of Statistics and Planning at COBAMS added, “The vision for Makerere University is to be a research led institution. To be research- led university, we need to promote graduate teaching and learning. To achieve this, graduate students need supervisors that are well trained and skilled. We will also continue to do retooling for experienced supervisors.”
Dr. Byaruhanga Micheal Bruce from the Department of Biochemistry and Tourism, a lecturer and a participant said, “Whoever thought about this training did something very important. I thought all I was doing in supervision was normal until this training came. I did not know that some issues I knew would let the students off the course while others would keep them on. I want to ensure that all I have learnt is put into action. The modules have been very enriching. We need more of such trainings, probably for more than two days.”
Dr. Tukae Mbegalo, a guest trainer from Mzumbe University in Tanzania said, “The training is very relevant considering the diversity of the participants which include the young and senior researchers because of sharing the experiences which include delays and the relationships between supervisors and supervisees.” He added, “As supervisors, our emphasis is on scientific writing which we should instill in the students. Scientific writing leads to consistency right from problem setting, objectives, methodology and aligning it to the results so that we improve the quality of the doctoral outputs.”
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