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.
Career Talk participants in a group photo.
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.
Prof. Edward Bbaale makes his remarks at the Career Talk.
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.
The Dean, School of Economics, Dr. Ibrahim Mike Okumu addressing students during the Career Talk.
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. Jonah Waiswa, Head of Stakeholder Engagement at the Bank of Uganda presenting to students.
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.
An Economics student participating in the career talk.
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.
Mr. Swaibuh Damulira, President of the Makerere University Economics Students Society giving a vote of thanks.
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.
Over 60% of Uganda’s population is categorized as youth. According to the Vice Chancellor, Professor Barnabas Nawangwe, Makerere University is one of the institutions in Uganda with the highest concentration of youth. Annually, over 10,000 youth graduate from Makerere University to join the labour market. As they plan to transition into the job market, some of them, are hit by the hard reality of unemployment. In Uganda, the youth unemployment rate (those aged 18 to 30) is 16.1% (Uganda Bureau of Statistics 2024).
To address this issue, Makerere University in partnership with the Government of Uganda, industry and the private sector, has been implementing programmes, to unlock the entrepreneurship potential of students and the youth in Uganda.
Through its College of Business and Management Sciences, the entity runs the Makerere University Entrepreneurship and Outreach Centre, committed to shaping Uganda’s next generation of entrepreneurs. The Center brings together members of the entrepreneurship ecosystem to discuss issues that are shaping entrepreneurial activities in the country.
This year, on the 16th and 17th of October, Makerere University Entrepreneurship and Outreach Centre, presents to you-The Uganda Entrepreneurship Congress and Youth Expo, themed, Brewing Prosperity: Youth Entrepreneurship in Uganda’s Coffee Value Chain.
The Entrepreneurship Congress and Youth Expo, spotlights one of Uganda’s most strategic Agricultural sectors-COFFEE. Over 600 students from the College of Business and Management Sciences at Makerere University, will showcase different innovations, with potential to be scaled into companies and business enterprises.
Focus on the Coffee Sector: By June 2024, Uganda had exported 667,037 kilograms of coffee worth US$162.36 million, underscoring its role as a cornerstone of the economy and a key foreign exchange earner. Despite this performance, the majority of Uganda’s youth remain excluded from the coffee value chain, often confined to low-income farm labor with limited participation in processing, branding, and export where the greatest value is captured (Uganda Coffee Development Authority).
With 78% of Uganda’s population under 30, this disconnect represents both a critical risk and an unprecedented opportunity.
Therefore, the Uganda Entrepreneurship Congress and Youth Expo at Makerere University, serves as a national convening platform for youth, entrepreneurs, investors, policymakers, and private sector leaders to unlock youth-driven innovation across the coffee value chain, from climate-smart farming and agritech to processing, branding, and global market access. By moving beyond subsistence farming towards ownership, innovation, and high value enterprises, the youth in Uganda can secure a greater share of the global coffee market while catalyzing job creation and sustainable development.
16th October 2025-Uganda Entrepreneurship Congress (8:00am to 3:00pm) at Makerere University Yusuf Lule Central Teaching Facility Auditorium.
17th October 2025-The Innovation and Youth Expo (8:00am to 4:30pm) at Makerere University Freedom Square, featuring youth coffee brands, brewing demonstrations, agritech prototypes, and live cupping sessions.
Key milestone: Dr. Sarah Bimbona, a Lecturer at the College of Business and Management Sciences, and the Director of the Makerere University Entrepreneurship and Outreach Centre, states that during the Congress and Expo, over 600 youth will be equipped with new skills to join and innovate in the coffee industry.
Chief Guest: Mr. Odrek Rwabwogo, Chairperson, Presidential Advisory Committee on Exports and Industrial Development (PACEID).
Keynote Speaker: Mr. Moses Nyabila, Chief Executive Officer, aBi Development Ltd.
Panel 1: Market Readiness, Value Addition and Story Telling; and Panel 2-Financing the Future.
Some of the Partners: Ministry of Agriculture, Animal Industry and Fisheries, National Coffee Research Initiative (NaCORI), BRAC Uganda, Tooke, Mastercard Foundation Scholars Program, Vision Group, Mountain Harvest, Pepsi, Rainforest Alliance, Sumz, and the Banana Industrial Research & Development Centre.
CONTACT PERSON: For additional information, please contact: Ms. Ritah Namisango, Public Relations and Communication Specialist at Makerere University, College of Business and Management Sciences, Telephone contact: +256 702944224.
Over 35 public officials from various Ministries, Departments and Agencies (MDAs) have commenced a two-week intensive training in Financial Appraisal and Risk Analysis in Mbarara. The training is organized by the Public Investment Management (PIM) Centre of Excellence at Makerere University, in collaboration with the Ministry of Finance, Planning and Economic Development (MoFPED), the National Planning Authority (NPA), and Cambridge Resources International (CRI).
Speaking on behalf of the Permanent Secretary and Secretary to the Treasury, Ms. Esther Ayebare commended the ongoing efforts to strengthen Uganda’s public investment management systems. She highlighted the recent launch of the National Public Investment Management Policy, describing it as a robust and unified framework guiding the entire investment cycle—from planning and appraisal through to implementation and post-evaluation.
Ms. Esther Ayebare.
Ms. Ayebare further noted other key reforms including the Framework for Tracking Implementation and Performance of Public Investments, the revised Development Committee Guidelines, and the Integrated Bank of Projects, all of which are designed to improve efficiency, accountability, and value-for-money in public investments.
“Each of these reforms plays a key role in enhancing public investment management. I urge you to familiarize yourselves with them and integrate these frameworks into your daily work,” she added.
Prof. Eria Hisali.
The Deputy Director of the PIM Centre of Excellence, Prof. Eria Hisali, encouraged participants to actively engage throughout the training and make the most of the opportunity to build their analytical and decision-making capacity. He commended the Ministry of Finance for its continued financial support to the Centre and reaffirmed Makerere University’s commitment to providing high-quality training and research to strengthen public investment governance.
The Manager of the PIM Centre, Dr. John Sseruyange, underscored the importance of the training, emphasizing that the PIM Centre was established to build national capacity in the appraisal, management, and evaluation of public investments. He called on participants to apply the knowledge gained to improve project preparation and implementation within their respective institutions.
Dr. John Sseruyange.
Dr. Sseruyange also expressed appreciation to the team of facilitators drawn from Makerere University, MoFPED, NPA, and CRI for their expertise and continued dedication to building Uganda’s human capital for effective public investment management.
The Financial Appraisal and Risk Analysis course is part of a broader capacity-building programme implemented by the PIM Centre aimed at enhancing the skills of public officials in the design, evaluation, and monitoring of development projects to ensure that public investments deliver optimal socio-economic returns for the country.
The meeting was chaired by Ms. Getrude Basiima, who represented Mr. Hannington Ashaba, Director Budget at the Ministry of Finance, Planning and Economic Development (MoFPED). Ms. Basiima commended the Centre for its continued commitment to strengthening public investment management capacity across government institutions.
In her remarks, Ms. Basiima applauded the Centre for successfully hosting the Public Investment Management Conference held in August at Makerere University. The conference attracted key policymakers, development partners, and academics who deliberated on how to enhance the efficiency, sustainability, and impact of public investments in Uganda.
She further shared exciting news that the Government of Uganda has secured funding from the World Bank to support the public investment management function. The PIM Centre, she announced, will be among the key beneficiaries of these funds — receiving support for the construction and acquisition of a permanent home to enhance its institutional sustainability and training capacity.
Reviewing the Centre’s quarterly performance, Ms. Basiima congratulated the team for successfully conducting three specialized trainings in the first quarter, reaching officials from various Ministries, Departments, and Agencies. These trainings continue to strengthen the technical competencies required for effective project preparation, appraisal, and implementation in line with Uganda’s National Development Plan.
The PIM Steering Committee in a meeting held at Emin Pasha Hotel
She encouraged the Centre to integrate climate change considerations into its future training programmes, noting that sustainable public investment must now account for environmental resilience and climate adaptation.
The centre team presented the proposed structure/ organogram, the financial performance of 2024/2025, research areas for 2025/2026 and the strategic plan for 2025 – 2030.
The Steering Committee reaffirmed its commitment to supporting the PIM Centre’s vision of becoming a regional leader in building capacity for efficient, transparent, and sustainable public investment management.