Business & Management
Bank of Uganda holds career talk with students: Commits to Annual Monetary policy engagements
On 14th April 2025, the Bank of Uganda in partnership with the College of Business and Management Sciences (CoBAMS) hosted a career talk targeting students studying economics at Makerere University.
The Bank of Uganda is one of the leading employers of students from Makerere University. It is therefore a key strategic partner of Makerere University.
In line with the theme of the career talk, ‘Beyond the Books-Positioning Economics Students for National and Global Relevance,’ the various Speakers shared their student experiences while at the University up to graduation, and their real-life experiences as they transitioned into the world of work. This approach enabled the Speakers to manage the expectations of the students, who in turn, listened attentively to the Speakers, actively participated in the plenary, responded to questions from the Speakers, asked questions after each presentation, and requested for more engagements, mentorship and networking sessions.
From the presentations and discussion, the world of work focused on fields such as economics, business, finance, accounting, entrepreneurship, farming, the academia, the teaching profession, and any other field that presented the Speakers with an opportunity to serve their respective communities.
Featuring Mr. Jonah Waiswa, the Head of Stakeholder Engagement at the Bank of Uganda, the career talk, presented a scenario of, “I have walked this journey. I have been successful. When you listen to my story, you could get some tips and valuable knowledge to guide you as a student who is scheduled to transition into the world of work.”
During the career talk, the students also listened to speeches loaded with words of wisdom and inspiration from the Principal of the College of Business and Management Sciences-Prof. Edward Bbaale, the Dean of the School of Economics- Dr. Ibrahim Mike Okumu, and Lecturers from the School of Economics-Dr. Peter Babyenda and Mr. Fred Kasalirwe.
Welcoming the team from Bank of Uganda, Prof. Edward Bbaale pointed out that their presence signified a continued commitment to nurturing the next generation of economists- who are academically sound and industry-ready.
“The theme for the Career Talk was relevant and timely. As the College prepares students to thrive in a highly competitive and dynamic global economy, it is important that they are exposed to practical experiences and real world insights,” he stated.
According to the Principal, the collaboration between Makerere University and the Bank of Uganda is long-standing and deeply valued. “In the past years, the School of Economics has benefited greatly from this relationship-through teaching of specialized courses such as Monetary Economics and Banking by experts from the Central Bank. Many of our alumni fondly recall these interactions that bridged theory with practice,” he remarked.
To the students, he said, “I urge you to listen keenly, ask questions and make the most of today’s interaction.”
Challenging the students to always utilize opportunities when they arise, the Dean of the School of Economics, Dr. Mike Ibrahim Okumu reminded students that economics is not just about understanding the world, but about changing it.
Dr. Okumu reported that the School of Economics’ esteemed collaboration with the Central Bank has been instrumental in developing the curriculum. “This year, we are excited to launch a Master of Science in Economic and Investment Modelling, admitting a select group of ten students. This programme signifies our commitment to producing graduates who are deeply engaged in practical applications of economics,” he stated.
Building on the goodwill between Makerere University and the Bank of Uganda, Mr. Waiswa was pleased to address the students-who are the prospective employees of the Central Bank as well as future economists.
Impressed by the level of attendance, the keynote Speaker-Mr. Jonah Waiswa commended the College Principal, the Dean and Staff in the School of Economics and the Makerere University Economics Students Society for the excellent mobilization.
He was delighted to address students studying economics at the University because he was once like them. “I was once an undergraduate student like you. I focused on my studies and performed well. I took advantage of the opportunities that came my way. I have spent a number of years working with the central bank,” shared Mr. Waiswa, an alumnus of Makerere University who on completion of his studies was privileged to join the world of work.
In his presentation, Mr. Waiswa highlighted the Bank of Uganda’s mission to foster price stability and a sound financial system, and its vision of being a centre of excellence in upholding macroeconomic stability. The Bank of Uganda is mandated under article 162(1) of the constitution to promote and maintain the stability of the value of the of the currency of Uganda; to regulate the currency system in the interest of the economic progress of Uganda; and to encourage and promote economic development and efficient utilization of resources.
He defined concepts such as monetary policy, macro-economic management policies, inflation and stability of the economy, which are taught in the classroom at Makerere University, and applicable at the Central Bank. He stressed that the cardinal principle of the Bank of Uganda is to control inflation. He made specific reference to some of the values of Bank of Uganda namely Integrity, Accountability, Transparency, professionalism, inclusivity and innovation. He informed students that these values are central to the day to day lives of students who wish to excel in life and at the world of work.
He requested the students to always log on to the central bank website to have a broader understanding of its roles, functions, opportunities that are available to students as well as careers at Bank of Uganda.
Mr. Waiswa highlighted that education is the ladder to socio-economic transformation. He called upon the economics students who have been presented with the golden opportunity to access education up to the level of the university, to reflect on the question. “How do I leverage my education to make myself better?”
With reference to the theme of the Career talk, Mr. Waiswa noted that the starting point is for each student to understand and appreciate the need to concentrate on his or her studies and excel academically. According to him, academic excellence presents an individual with a chance to tap into other opportunities.
In addition to academic excellence, students should prepare to transition into the world of work, which could be, in the form of being employed, or self-employed or an entrepreneur. Mr. Waiswa guided that whatever field in the world of work, an individual pursues, understanding aspects such as self-discipline, time-management, acquisition of additional skills relevant to your work, integrity, accountability, and among others are paramount.
He rallied students to value internship or industrial training, voluntary service, networking and mentorship. He advised them to always navigate the websites of different institutions/companies to understand their roles, the caliber of employees that they require, and to search for opportunities.
Sharing his journey of humble beginnings, completing his undergraduate degree and enrolling into the world of work based on hard-work and merit, Mr. Waiswa informed the students that it is possible to commit to breaking the chains and succeed in life. Emphasizing the importance of education, Mr. Waiswa reminded the students that the fact that they have been able to study at Makerere University, they should harness the power of education to transform their lives and the communities that they come from.
“My journey has been from humble beginnings to a position where I can influence change-it’s a testament to the power of education. Inspiration is critical, and I hope you take something valuable from today,” said Mr. Waiswa.
“For those of you in the second and third year of study, your studies in monetary economics and macroeconomics are foundational. They lead us to understand the practical implications of what we learn in the classroom. However, it’s imperative that we also focus on life experiences and the journey to transformation,” he added.
Education is the ladder that connects us, regardless of where we may find ourselves in Uganda. It is this a common ground that can propel us forward. Leveraging your education to improve your circumstances is key, but it requires a passion and a drive to succeed.
Mr. Waiswa advised the students that the world of work requires employees who read the signs and take off time to acquire additional skills in a particular field. These include: Enrolling to study professional courses, acquisition of ICT skills, adapting to trends such as AI, as well as attaining a Master’s degree in the relevant discipline.
Without mentioning the names of the affected individuals (as confidentiality is concerned), Mr. Waiswa shared a lived experience where he painful witnessed some employees who had served with dedication at a particular organisation missing out at the time for promotion to the managerial level because they lacked a Masters’ degree. He noted that such individuals did not take advantage of availability of funds provided by the same organization to its employees to enroll for further studies.
Reflecting on the world of work, he asked the students, “Who are you out of class? He challenged them to visualize their technical competence (qualification) which includes the technological expertise, productive competence, communication competence (interpersonal relations) and personal development.
On the fundamental aspect of personal growth and development, he used an illustration of the effort pyramid to explain the concepts of growth and development, Job/work, and academics.
He emphasized the need for diversification by investing in more than one asset class. He mentioned stocks, bonds, real estate and cash as some of the asset allocations that could be considered.
Tackling the area of investing, Mr. Waiswa revealed that fundamental wealth creation is about managing risk. “During investment decisions, we are presented with profits and losses, but the most important factor is managing risk,” he guided.
Underscoring the value of being accountable, Mr. Waiswa explained that when an individual secures a job, it is imperative that he or she works for the number of hours agreed upon, and delivers to the best of his or her ability. “After you have accorded your employer the hours agreed upon, it is important to use the rest of the hours or weekends to take on activities that advance your personal growth, networks and additional sources of income,” he said. In this regard, he informed the students, that after his working hours at the Bank of Uganda, he ventures into real-estate, farming, entrepreneurship and building valuable networks.
On the issue of prioritizing work and valuing networks, he said: “Despite my busy weekends dedicated to farming, I prioritized being here today because I am committed to my personal growth and that of my future generations. Remember that what you expect of life is often what you have to work tirelessly to achieve.”
He believes that after graduation and getting into the world of work, one should be able to marry or get married, produce children and balance work with family when he or she is still energetic. He encouraged the would be husbands to trust their partners, to be specific-by involving their wives in businesses and decision making processes.
Wrapping up, Mr. Waiswa disclosed that officials from the Bank of Uganda will be scheduled to come to Makerere University every year to discuss monetary policy and career prospects at the Bank. “Effective July 2025, we will implement a deliberate plan to come and engage with students at the College of Business and Management Sciences,” he said.
On behalf of the students, Mr. Swaibuh Damulira, the President of the Makerere University Economics Students Society applauded the Bank of Uganda team for creating time to enlighten students about the world of work. He testified that the career talk had enabled him to learn new things and very important ideas about the life style cycle. He called for continuity of career guidance initiatives for the benefit of the students.
On behalf of the Organising Committee, Dr. Peter Babyenda thanked Mr. Jonah Waiswa for dedicating time to share his rich and wide real life experiences with students. “As economists, it is vital to understand current challenges and devise solutions. Networking is essential for it presents us with the ability to collaborate effectively,” he explained.
“Together, we aim to link the University with policy makers, reducing the distance between the academia and the real world. I thank Fred Kasalirwe and the Class coordinators for their unwavering support in organizing this career talk,” he remarked.
Dr. Babyenda underscored the importance of students’ participation, when he stated, “Remember, the university experience is incomplete without you, our students, who are our greatest resource. Let us continue fostering these important connections.”
The career talk climaxed with a specialized session scheduled for student leaders to visit the Central Bank next month for an in-depth discussion.
Business & Management
CoBAMS Orientation: Principal urges first year students to prioritize academics
Welcoming the first year students to Makerere University, and to the College of Business and Management Sciences in particular, the Principal-Prof. Edward Bbaale said: “Prioritize your academics. I urge you to remain focused. This is your season of hard work. You are here to contribute to the transformation of Uganda and the world at large.”
The Principal made the remarks on Day One (5th August 2025) of the College of Business and Management Sciences (CoBAMS) Orientation. Organised by the College Management and 91st College Guild Council, the Orientation is scheduled to take place from 5th to 8th August 2025 at Makerere University Yusuf Lule Central Teaching Facility (CTF2 Auditorium).
The Principal congratulated the first year students upon joining CoBAMS-the leading training unit and supply chain of professionals in economics, business, statistics and planning fields.
“We are proud to be shaping the future economists, business leaders, entrepreneurs, policy analysts, actuaries, and statisticians who will go on to transform industries, drive public policy, and make impactful decisions globally,” he remarked.
Prof. Bbaale pointed out that the College consists of three (3) schools namely Economics, Business, as well as Statistics and Planning. Providing a brief on the leadership of the College, he mentioned the Deputy Principal-Associate Professor James Wokadala, the Dean, School of Economics-Associate Professor Ibrahim Mike Okumu, the Dean, School of Business-Associate Professor Godfrey Akileng, and the Dean, School of Statistics and Planning-Dr. Margaret Banga. With reference to the orientation programme, he informed the students that they would have specialized sessions with the Deans and staff of the respective schools on 6th August 2025. The Principal also acknowledged Heads of Departments, and the College Management Board as key players in leadership.
Inspired by the rich and celebrated history of Makerere (established in 1922), Prof. Bbaale notified the students that the institution celebrated 100 years of excellent service to humanity in 2022, and has built a reputation that transcends borders. “The name, Makerere University is recognized, respected, and revered. I call upon you, to wholeheartedly guard and protect the institution’s name and reputation,” he said.
Tackling safety and well-being, Prof. Bbaale guided that safeguarding starts with an individual. He encouraged the students to read the Makerere University Safeguarding Policy to understand the safeguarding concerns, guidelines and responsibilities of the respective Offices. He informed the students that the College had safeguarding champions including a student representative, who have been trained to handle the safeguarding concerns, and to work closely with the students’ body to identify and report safeguarding matters.
He also cautioned the students against any forms of misconduct. “The University is committed to ensuring zero tolerance against sexual harassment, and exam malpractices. During the orientation, staff from the Gender Mainstreaming Directorate will provide a brief on the Policy and Regulations against Sexual Harassment, and the College Registrars will guide you on the academic policies.”
The address by the Principal set the pace for presentations on the following critical matters: Life at Campus, Guidance and Counselling, Makerere University Tuition Policy, Information Technology and Library resources, the Emerging Leaders Program (ELP), and a networking session with the 91st College student leaders.
Building on to the Principal’s powerful message, the following University officials interacted and engaged students on 5th August 2025: Ms Juliet Mirembe Ssewankambo-Acting College Registrar, Ms. Rose Nalwanga-Senior Counsellor, Dr. Peace Musiimenta-Representative of the Emerging Leaders program team, Mr. Peter Mubiru-College Bursar, Ms. Claire Nakaseeta-from the College Library, Mr. Gilbert Nsazimaana-DICTS, Ms. Namazzi Madrine Kayima-School of Economics Registrar, Ms. Stella Butamanya-School of Statistics and Planning Registrar, Ms. Ritah Namisango-Principal Communication Officer, and Mr. Moses Kibirango-Web Administrator.
From 6th to 8th August 2025, the student centered orientation features sessions on the following: Academic policies, orientation meetings with leadership of the respective Schools, understanding the responsibility of a student, health and wellness, brainteaser activities, gender mainstreaming, sensitization about the Red Cross, tour of the library and exposure to resources, as well as IT and hands-on-training.
Delighted that the first year students had turned up in big numbers, filling the auditorium to the brim, the Chairperson of the 91st College Guild Council, Fahad Ssozi Batte, said the 2025 orientation was planned to provide a rich and rewarding experience to students, as they commence the academic year 2025/2026. In addition, Ssozi Batte noted that the information and knowledge shared would provide a firm foundation to the students about life on campus. He thanked the entire College student leadership for remaining steadfast in the advancement of student interests.
Business & Management
COVID-19 Deepened Food Insecurity Among Uganda’s Urban Poor, With Women Hit Hardest, EfD Study Finds
Kampala – July 31, 2025
A study by researchers from the EfD-Mak Centre at Makerere University has revealed stark gender differences in the impact of COVID-19 on food security among Uganda’s urban poor, with female-headed households bearing the brunt of the crisis. The findings were presented at a stakeholder dissemination meeting held at Tick Hotel in Kawempe Division, Kampala.
The research, led by Dr. Fred Matovu, Fred Kasalirwe, and Anitah Kyamugabwa, focused on Kawempe Division, one of Kampala’s most densely populated and low-income areas. Using data from a 2022 household survey of 415 respondents, along with focus group discussions and interviews with key government stakeholders, the study examined how the COVID-19 pandemic and related economic disruptions worsened food security in informal urban settings.
Speaking on behalf of the EfD Uganda Director, Dr. Peter Babyenda stressed that Uganda’s current social protection structures are inadequate, especially for the most vulnerable. He called for policy frameworks that are informed by grassroots realities. “We need policies that involve those affected from the ground up, especially the urban poor who live on daily incomes. During COVID-19, these groups suffered immensely when lockdowns were imposed without consultations,” he said.
The study, titled “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, was conducted between 2022 and 2023 in collaboration with EfD Tanzania. In Uganda, the research focused on how urban poverty intersected with gender and food insecurity.
Presenting the findings, Fred Kasalirwe reported that poor urban households, especially those relying on informal employment, were disproportionately affected due to low and unstable incomes. The containment measures introduced in March 2020 including stay-at-home orders, closure of schools, suspension of public transport, and night curfews had a devastating effect on daily earners. As economic activity halted, access to food, healthcare, and essential services declined sharply.
The research found that food security and dietary quality worsened for both male- and female-headed households. However, the impact was more severe for female-headed households due to greater caregiving responsibilities and fewer income-generating opportunities. With limited access to social safety nets, families resorted to extreme coping strategies such as selling household assets, depleting savings, and changing their diets involuntarily. Kasalirwe noted that government food assistance during the crisis was inconsistent and insufficient.
He explained that female-headed households faced unique challenges, often balancing caregiving with limited means to earn income during lockdowns. “These households suffered more from income shocks, leading to worsened nutrition among children and the elderly,” he said. Most had to rely on informal networks or personal savings to survive.
The study also noted an unexpected finding: persons with disabilities experienced relatively improved food security during the crisis, likely due to targeted social support. However, this level of support was not extended to most households, exposing critical gaps in Uganda’s social protection systems.
While the COVID-19 pandemic was a primary focus, researchers emphasized that food insecurity among the urban poor in Uganda has been driven by a wider series of shocks. These include prolonged droughts, floods, mudslides, economic recessions and the suspension of major aid programs such as USAID. Each of these events has further strained already fragile food systems and household resilience.
Kasalirwe warned that unless Uganda adopts robust and inclusive social protection policies, the country will remain vulnerable to future crises. He urged the government to consider gender-responsive strategies that recognize the disproportionate burden carried by women and informal workers. “Government programs often collapse because communities are not involved in designing or owning them,” he said. “What we need is a bottom-up approach where self-help mechanisms and community buy-ins are developed alongside government interventions.”
He further noted that while COVID-19 provided the context for the study, the findings are applicable to a wide range of future shocks, including public health emergencies, climate change, and global economic downturns. “We’ve seen floods in Mbale, Ebola outbreaks, and the ripple effects of the Ukraine war. We need systems that don’t crumble when funding dries up,” he said.
The researchers urged both the government and development partners to shift focus from emergency responses to long-term resilience building. They emphasized that coping strategies such as selling productive assets or reducing food intake are impoverishing and unsustainable. The study called for a strong policy framework that prioritizes food security, supports vulnerable populations, and enhances urban livelihoods.
The study recommends a participatory approach that actively involves vulnerable communities in the design and implementation of social protection programs. It also calls for the establishment of community-based safety nets that are sustainable even in the absence of regular government funding. The researchers stressed the importance of gender-sensitive planning, especially in informal settlements where women face heightened challenges during economic shocks. Additionally, the government is urged to streamline its social protection initiatives through the Ministry of Gender, Labour and Social Development, ensuring effective outreach and awareness to reach those most at risk.
The research was funded by the EfD Global Hub and coordinated by the EfD-Mak Centre. Participants at the dissemination meeting echoed the urgency of addressing urban food insecurity and preparing more effectively for future crises.
More photos from the workshop
Jane Anyango is the Communication Officer EfD Uganda.
By Ritah Namisango and Monica Meeme
On Tuesday 22nd July 2025, Prof. Edward Bbaale, the Principal of the College of Business and Management Sciences (CoBAMS) endorsed the newly-established College SACCO by enrolling as a member.
The Mak-CoBAMS SACCO, which was inaugurated on 14th July 2025, provides a platform to improve the economic well-being and quality of life of members through accessible financial services, provision of affordable loans, promotion of a savings and investment culture, financial security, and potential dividends.
The interim Committee that was instituted to kick-start the SACCO has been working under the guidance of the Deputy Principal, Associate Prof. James Wokadala as Patron.
Tasked with finalizing the operations of the SACCO, the Interim Committee, chaired by Dr. Peter Babyenda consists of the following members: Dr. Allen Kabagenyi-Vice Chairperson, Dr. Christopher Alioni-General Secretary, Mr. Peter Mubiru-Treasurer, and Mrs. Juliet Mirembe Ssewankambo-Mobilizer. The Committee members representing the three schools include: Mr. Fred Kasarirwe-School of Economics, Dr. Marion Nanyanzi-School of Business, and Dr. Hellen Namawejje-School of Statistics and Planning. Mr. Joseph Ikarok represents support staff on the SACCO.
As the SACCO kicks off, the Committee agreed on the following contributions: Membership fee of 20,000/=, Annual subscription fee of 30,000/=, a minimum of ten shares at 100,000/= per member, and a minimum monthly contribution of 50,000/=.
The Committee believes that the rates set are manageable by members of staff. According to the Chairperson, Dr. Babyenda, the Committee is enrolling members. He stated that the minimum monthly saving of 50,000/= is a priority, and also called upon each member to pay up the minimum 10 shares before 31st July 2025.
Congratulating the College Principal, Prof. Bbaale upon becoming a member of the Mak-CoBAMS SACCO, the interim General Secretary-Dr. Alioni, reported that they need at least 30 members to start operations.
Following his enrollment as a Member, Prof. Bbaale, lauded the team for the establishment of the SACCO, a long-awaited intervention that will provide financial support to staff members. He thanked Associate Prof. James Wokadala for his resilience and dedication to making this initiative a reality.
Prof. Bbaale explained that the SACCO is well-aligned with the college’s research and academic programs, which focus on business, economics, statistics and planning.He highlighted the critical need for accessible finance, citing it as one of the leading constraints to development and business growth. The SACCO will fill a significant gap by providing staff members with financial support at reasonable interest rates.
Prof. Bbaale believes that the SACCO will transcend his tenure and become a lasting legacy for the college, providing benefits to staff members for years to come. He commended the interim committee for their hard work and commitment to establishing the SACCO. He expressed confidence in the team’s ability to manage the SACCO effectively, citing their strong work ethic and dedication.
Pledging his full support towards the SACCO, Prof. Bbaale rallied members of staff to join the initiative and participate in its activities and programmes. He stated that the SACCO will have a positive impact on the college community, addressing financial constraints and improving the well-being of staff.
The Deputy Principal, Associate Prof. Wokadala, acknowledged the College Principal for hosting the meeting and guiding the process leading to the establishment of the SACCO. He noted that the SACCO is a long-standing dream of the college’s formulators and a game-changer for the institution. To this end, the College Board unanimously welcomed the idea and set up an interim committee to oversee its implementation.
Associate Prof. Wokadala commended the colleagues who volunteered to steer the initiative, expressing confidence that the SACCO would become vibrant and successful. He visualised the SACCO evolving into a microfinance institution or bank with member support.
The Deputy Principal reported that the Principal’s office provided a contribution of 3,000,000/= to kick-start the SACCO’s activities, which would be accounted for by the committee. He emphasized transparency and accountability in managing the funds, noting that the committee would account for every shilling received, and present a report to the Annual General Meeting (AGM).
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