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.
Kampala, Uganda – December 19, 2025 — The Environment for Development (EfD) Uganda Centre at Makerere University has taken stock of its 2025 achievements and outlined its strategic direction for 2025–2029, with a strong focus on energy transition, climate change, and sustainable natural resource management.
The reflections were shared during the Centre’s annual end-of-year celebration, which brought together members of the EfD Steering Committee, deans from the School of Economics and the School of Agricultural Sciences, government officials, private sector actors, civil society organisations, researchers, and students.
Interdisciplinary Foundation Strengthens Impact
Addressing stakeholders, EfD Uganda Director, Professor Edward Bbaale, highlighted the Centre’s progress in institutional development, research, policy engagement, and capacity building. While acknowledging challenges encountered during the year, he noted that these provided valuable lessons as the Centre transitions into a new strategic phase under the EfD Strategic Plan (2025–2029).
Prof. Bbaale underscored the Centre’s unique positioning within Makerere University, noting that it is jointly anchored in the School of Economics and the School of Agricultural Sciences. This interdisciplinary foundation, he said, enables EfD Uganda to address complex development challenges such as energy transition, climate change, water resources, forestry, biodiversity, and agriculture from a holistic perspective.
“This approach aligns with Makerere University’s policy on research institutes and reflects global trends that increasingly demand cross-disciplinary collaboration,” he said.
He further highlighted existing academic synergies, with PhD students in Economics and Agricultural Economics sharing coursework, and announced the launch of a Master of Science in Environment and Natural Resource Economics, recently approved by the National Council for Higher Education. The programme, jointly developed by faculty from both schools, is expected to strengthen training in environmental economics and natural resource management.
Strategic Direction for 2025–2029
Prof. Bbaale unveiled the Centre’s strategic plan for 2025–2029, anchored on six thematic areas: energy transition; climate change adaptation and mitigation; climate-smart agriculture; water resources management; forestry and biodiversity; and environmental quality.
He noted that climate change remains a cross-cutting issue across all themes, adding that EfD Uganda will continue to work closely with stakeholders to ensure its research informs national policy and practical interventions.
Over the next five years, the Centre’s research will focus on land use and biodiversity conservation, climate-smart agriculture, climate change adaptation and mitigation, and energy transition-areas expected to generate evidence-based solutions for Uganda and the wider region.
Key stakeholders identified for collaboration include the National Planning Authority, the Ministry of Finance, Planning and Economic Development (Climate Finance Unit), the Ministry of Agriculture, Animal Industry and Fisheries, the Ministry of Water and Environment, the Ministry of Energy and Mineral Development, and district local governments.
Major Achievements in 2025
Prof. Bbaale reported that the Centre concentrated its efforts on the three pillars of Makerere University: research, policy engagement, and training.
Policy Engagement
The Centre organised two high-level dialogues on climate-smart agriculture and a policy dialogue on e-mobility under the Inclusive Green Economy (IGE) programme.
“We chose e-mobility because it is a green mode of transport,” Prof. Bbaale said. “Through the IGE programme, we worked with senior civil servants and policymakers to explore how Uganda can transition to a greener economy.”
The programme also facilitated cross-country peer learning among Ethiopia, Tanzania, Kenya, Rwanda, and Uganda. He cited Rwanda’s rapid electrification of motorcycles through taxation and subsidies, and Tanzania’s success in universal rural electrification, as key lessons.
Capacity Building
The Centre conducted more than ten training sessions for fellows, researchers, policymakers, and graduate students. It also recruited a funded postdoctoral fellow Dr. Gemeda Olani Akuma. from Ethiopia, to work on natural capital issues.
“Postdoctoral fellows are critical to knowledge generation,” Prof. Bbaale noted. “If Makerere strengthens its postdoctoral programme, our research output will more than triple.”
He referenced benchmarking visits to South African universities with strong postdoctoral systems, noting that Makerere is steadily moving toward becoming a research-led institution.
New Projects and Institutional Growth
EfD Uganda launched five new projects and expanded its institutional partnerships during the year. These included Sida-funded initiatives, a consultancy with GIZ, the Centre’s first MakRIF-funded project, and grants from the Gates Foundation and the Carnegie Corporation.
In institutional development, the Centre inaugurated 13 new advisory board members, strengthening governance and oversight. Prof. Bbaale also introduced the Centre’s core staff, praising their dedication and commitment to capacity building, including the mentorship of interns and teaching assistants some of whom have since joined institutions such as the Bank of Uganda.
Strengthening National and International Engagement
The Centre deepened collaboration with national institutions, including the National Planning Authority, the Ministry of Finance, Parliament, and the National Water and Sewerage Corporation. Among ongoing initiatives is a study aimed at improving bill payments at the utility to unlock new investments and service improvements.
EfD Uganda is also working with district local governments to build capacity in environmental valuation and natural capital accounting, supported by MakRIF funding from the Government of Uganda.. Trainings were conducted for districts in central Uganda and in Fort Portal.
At the international level, the Centre hosted visiting scholars, including Prof. Edwin Mchapondwa from the University of Cape Town, who trained government officials on community-based conservation, and Prof. Mark Purdon from the University of Montreal, who launched a book on carbon markets.
EfD’s Natural Capital Accounting Model Adopted by Government
A major highlight was the development of a natural capital accounting model, supported by GIZ and now adopted by the Ministry of Water and Environment. The Excel-based MoneyCap model, developed in collaboration with the Ministry of Finance, UBOS, and the National Planning Authority, supports policy assessment by comparing investment scenarios in natural capital.
“This places us at another level,” Prof. Bbaale said, noting that the model aligns with global climate finance discourse and Africa’s emerging coalition of finance ministers for climate action.
Prof. Bbaale warned that Uganda’s agriculture sector must urgently adapt to climate realities, citing erratic rainfall and rising temperatures. He stressed that climate-smart agriculture is critical to safeguarding livelihoods and food security.
The Centre also celebrated the graduation of a new cohort of Inclusive Green Economy Fellows, supported by Sida, and announced five new grants, including a Carnegie-funded project on household and SME energy efficiency and a grant for climate-sensitive macroeconomic modelling and the Makerere Research and Innovation Fund (MakRIF) from the Government of Uganda
Commitment to Policy-Relevant Research
In his concluding remarks, Prof. Bbaale reaffirmed EfD Uganda’s mission to generate research that delivers practical solutions for policymakers and communities.
“Our work asks a fundamental question: how much natural capital are we depleting in the pursuit of growth?” he said. “That is the frontier we are working on.”
He thanked the Centre’s team for their dedication and contributions throughout the year.
Centre Reaffirms Commitment to Collaboration
Dr. Peter Babyenda, Policy Engagement Specialist, reaffirmed EfD Uganda’s commitment to collaboration with policymakers, academia, civil society, and the media.
“Policy engagement includes working with the media,” Dr. Babyenda said. “We remain open to partnerships and invite stakeholders to engage with us.”
He thanked participants for attending the annual reflection event and encouraged continued networking.
Jane Anyango is the Communication Officer, EfD-Mak Centre
December 18, 2025 – Coming after the successful completion of the examination season, and as the year comes to an end, the afternoon, evening and night hours of 18th December 2025, presented the best opportunity, to staff to reflect on the 2025 College of Business and Management Sciences (CoBAMS) achievements in a relaxed environment.
The ever-green Makerere University Guest House gardens provided comfort as staff continued to enjoy this lovely space situated on the Makerere University Main Campus.
The event brought together the Principal, Deputy Principal, Deans of the respective Schools, Heads of Department, academic, administrative, technical and support staff, as well as guests, in a mix of celebration, networking, and recognition.
The end of year staff get-together provided a platform to strengthen collegial relationships, and reflect on the College’s future direction. In the true sense of networking, the event also featured dance competitions amongst staff.
Recognition of CoBAMS staff who received the Vice Chancellor’s Excellence Awards 2025
A key highlight of the event featured recognition of the ten (10) members of staff from CoBAMS who received the Vice Chancellor’s Excellence Award 2025. These included: Early Career Scholar Category-Namugenyi Christabellah and Dr. Richard Ssempala, Mid-Career Scholar Category-Dr. Peter Kisaakye, Dr. Anthony Tibaingana, Dr. John A. Mushomi, and Dr. Kasimu Ssendawula, Senior Career Scholar Category-Dr. Stephen O. Wandera, and the Best Teachers Category-Dr. Patricia Ndugga, Dr. Faisal Buyinza and Mr. Fred Kasalirwe.
Presenting the CoBAMS Awards amidst applause from members of staff, the Deputy Vice Chancellor (Academic Affairs)-Prof.Sarah Ssali flanked by the Deputy Principal of the College, Associate Professor James Wokadala read a special message: “Your dedication elevates the standards of the College of Business and Management Sciences and brings distinction to Makerere University.”
Collective Achievements and Strategic Priorities
Professor Edward Bbaale, Principal of CoBAMS, in his end-of-year message, acknowledged the dedication of all staff and their contributions to the college’s success. “I sincerely thank all colleagues across our academic, research, administrative, and support units for your relentless dedication to advancing the mandate of the College. Your collective efforts remain the backbone of our success and institutional resilience,” he said.
Prof. Bbaale highlighted notable achievements in research and publications, congratulating staff who received the Vice Chancellor’s Excellence Awards and Best Teacher Awards. “These achievements reflect individual distinction and collective pride for our College. I encourage you to sustain this excellent performance,” he said. He further recognised faculty who secured research grants from Mak-RIF, international development partners including the Gates Foundation, UN-PAGE, GGGI, the World Bank, and Erasmus+, noting that such successes reflect growing global trust in CoBAMS scholarship.
The Principal underscored the college’s role in fostering institutional growth and partnerships. “I appreciate colleagues who have initiated and advanced Memoranda of Understanding with domestic and international partners. These platforms strengthen relevant academic training, impactful research, and policy engagement,” he said.
He highlighted new academic programs responsive to Uganda’s economic and societal needs, emphasising the college’s forward-looking and development-oriented approach.
Prof. Bbaale praised initiatives promoting staff welfare and cohesion, including the CoBAMS Physical Fitness Programme and the Mak-CoBAMS SACCO.
On infrastructure development, the Principal noted, “Government has allocated resources to commence the CoBAMS Infrastructure Expansion Project, and the University Council has approved two strategically located plots of land for its implementation. We shall actively engage the design consultant to ensure the buildings meet our teaching, research, innovation, and policy-engagement needs.”
He concluded his remarks by acknowledging life’s challenges alongside successes, extending condolences to staff who lost loved ones in 2025 and seasonal greetings: “As we step into 2026, I wish you and your families a year filled with God’s abundant blessings, good health, professional fulfilment, and personal joy. Merry Christmas and a Happy New Year to all.”
DVC Academic Affairs praises Research, Innovation, and Integrity
The Deputy Vice Chancellor for Academic Affairs, Professor Sarah Ssali, praised CoBAMS for its contribution to Makerere University’s strategic goals.
She extended warm greetings from the university management, including the Vice Chancellor, and underscored the importance of every staff member’s role. “Whatever role you play, you are adding a brick to this institution, just as those before us did,” she said.
Prof. Ssali highlighted the college’s research-led initiatives, emphasizing the importance of postgraduate and doctoral programs as a pipeline for academic excellence. “I commend CoBAMS for taking this seriously. Your work reflects the university’s strategic direction and internationalisation,” she said.
She noted the recent launch of the CoBAMS Working Paper Series and encouraged its development into four journals in economics, business, statistics, and planning in the near future. “This will allow graduate students to actively contribute, mentoring the next generation of scholars while strengthening Africa’s knowledge production and decolonising knowledge,” she explained.
The DVC Academic Affairs acknowledged CoBAMS for innovative approaches to research and value addition. “During the Entrepreneurship Expo, your work with coffee demonstrated how one thematic area can generate multiple products—from coffee oil to bath scrubs—showing creativity and value addition. Similarly, demography and population studies contribute crucial expertise, from census data to electoral processes,” she said.
Prof. Ssali encouraged the college to document and develop indigenous knowledge systems. “Your role as a college is to study local economic models, explore African-informed business and economic practices, and produce scholarship that reflects local realities,” she said.
She congratulated faculty members who secured research grants, published in peer-reviewed journals, or served as editors, noting that these achievements reflect both individual excellence and the academic culture of CoBAMS.
Reflecting on the Professor Emmanuel Tumusiime-Mutebile Centre of Excellence at Makerere University and the research promoted by the Tumusiime Mutebile Foundation, Prof. Ssali called for rigorous development of the initiative. “While research chairs focus on individual scholarship, Centres of Excellence build pipelines of knowledge for future generations, preserving the legacy of scholars namely Dr Mutebile in monetary policy, finance, and banking,” she said.
Networking and Teamwork
In his address, Associate Professor James Wokadala, the Deputy Principal of CoBAMS, emphasized the importance of networking and teamwork. “Today is a day for networking. This is a time to connect socially, celebrate, and reaffirm our commitment to serve Makerere University and, specifically, our College.”
He applauded staff for supporting the college’s teaching, learning, research, and student mentorship activities. He highlighted CoBAMS’ innovative initiatives, including the CoBAMS SACCO and the CoBAMS fitness club, which promote teamwork, wellness, and collegiality.
He thanked the event organisers for their efforts and acknowledged those who have supported administrative processes, such as fast-tracking promotion applications. He called upon staff to continue collaborating to serve Makerere University, the nation, and humanity.
Staff Appreciate the get-together moments
Charmed by the spirit of celebration, dance competitions amongst staff, and the choice of trending music, a significant number of staff stayed at the venue until the party came to a complete stop at 10:00p.m.
The following day (19th December 2025), the rejuvenated staff took to the College WhatsApp platform, and wrote messages, acknowledging being refreshed, feeling nice and young again. They requested the College leadership to plan for more of such engagements that promote teamwork, collegiality and good health.
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