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Mastercard Foundation Board pays its inaugural visit to Makerere University

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On Tuesday, 17th June 2025, a distinguished delegation from the Mastercard Foundation Board visited Makerere University for the first time since the establishment of the Mastercard Foundation Scholars Program at the university. The visit underscored the progress achieved through the partnership and its positive impact on the university community, Uganda and the African continent over the past decade. The delegation was welcomed to Makerere by the Vice Chancellor, Prof. Barnabas Nawangwe, accompanied by Prof. Buyinza Mukadasi, Acting Deputy Vice Chancellor for Academic Affairs, and Prof. Justine Namaalwa, the Program Director for Mastercard Foundation at Makerere University.

The high-profile delegation was led by Her Excellency President Ellen Johnson Sirleaf, the former President of Liberia and the first woman to hold the presidential office on the African continent. She serves on the Board alongside other members such as Mr. Zein M. Abdalla, the Board Chairperson; Ms. Jennifer Fonsted; Mr. Jim Leech; Mr. Stephen Toope; Ms. Sewit Ahderom; Ms. Baroness Valerie; Hon. Louise Arbour; Ms. Tsega Gebreyes; Mr. Jay Ireland; Mr. Michael Sabia; Ms. Carole Wamayu; Ms. Robin Washington; and Ms. Reeta Roy, the President and Chief Executive Officer of the Mastercard Foundation. Additionally, the Board members were accompanied by the leadership team of the Mastercard Foundation, including Mr. Doug Kasambala, Chief Financial Officer; Ms. Ivy Mwai, Education and Skills Lead; Mr. Adrian Bukenya, Country Director for Mastercard Foundation-Uganda Programs; and Ms. Rachel Nandelenga, Head of Country Program Communications.

Prof. Barnabas Nawangwe, welcoming H.E. Ellen Johnson, Ms. Reeta Roy and other members of Mastercard Foundation Board to Makerere University. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Prof. Barnabas Nawangwe, welcoming H.E. Ellen Johnson, Ms. Reeta Roy and other members of Mastercard Foundation Board to Makerere University.

The Mastercard Foundation Board conducted a series of meetings with various stakeholders at Makerere University. The meetings begun with the University Leadership, which featured key figures such as Rt. Hon. Daniel Kidega, the Deputy Chairperson of the University Council and Chairperson of the Mastercard Foundation Scholars Program Advisory Board at Makerere; Prof. Barnabas Nawangwe, the Vice Chancellor; Prof. Buyinza Mukadasi, the Acting Deputy Vice Chancellor for Academic Affairs and Chairperson of the Steering Committee for the Mastercard Foundation Scholars Program; and Mr. Yusuf Kiranda, the University Secretary.

While addressing the delegation, Vice Chancellor Prof. Nawangwe expressed gratitude for the partnership between the Mastercard Foundation and Makerere University. He highlighted the Foundation’s impact on Africa’s higher education sector and the livelihoods of young people across the continent.

Prof. Barnabas Nawangwe, Prof. Buyinza Mukadasi and Prof. Justine Namaalwa, interacting with Members of the Board. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Prof. Barnabas Nawangwe, Prof. Buyinza Mukadasi and Prof. Justine Namaalwa, interacting with Members of the Board.

“We are privileged to host Her Excellency Ellen Johnson Sirleaf, along with other Members of the Board of Mastercard Foundation and the Foundation’s President and CEO, Ms. Reeta Roy, for the first time at Makerere University. The Mastercard Foundation has significantly impacted Uganda and Africa’s higher education sector and the livelihoods of young people, for which we are very grateful,” Prof. Nawangwe remarked.

Prof. Nawangwe also expressed appreciation to the Mastercard Foundation for its partnerships with Makerere University, which began with the Scholars Program and now encompasses additional initiatives such as the E-learning Initiative and, most recently, the Climate Resilience and Sustainability Collaborative project.

During the meeting with the Scholars Program staff, the Program Director, Prof. Justine Namaalwa, had the opportunity to outline the achievements of the first 10 years (First phase) of the Scholars Program at Makerere University and shed light on the future of the second phase of the Program at Makerere University.

Rt. Hon. Dan Kidega, Prof. Buyinza Mukadasi and Mr. Yusuf Kiranda interacting with the Board Members during their meeting with the Scholars Program staff. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Rt. Hon. Dan Kidega, Prof. Buyinza Mukadasi and Mr. Yusuf Kiranda interacting with the Board Members during their meeting with the Scholars Program staff.

Among the achievements highlighted by Prof. Namaalwa during the first phase were the following:

  • The Program supported 1,032 young people, of whom 76% were females and 24% were males.
  • As of January 2025, 965 Scholars had graduated, achieving an exceptional completion rate of 94%.
  • Scholar Alumni have moved on to various pursuits, including formal employment (34%), entrepreneurship (11%), and further education (3%).
  • Strengthening the Student Mentorship Engagements through capacity-building sessions for 97 university staff across the colleges, which benefits both the Scholars and other students.
  • Drafting the Makerere University Career Guidance and Mentorship Policy to streamline mentorship engagements across the university. The Policy is currently under review by the University Council.
  • As of 2024, the Scholars Entrepreneurship Fund has created 86 jobs across various communities.
  • The Scholars made a positive impact on communities through their Annual Day of Service, supporting twelve communities by constructing boreholes for clean water access in two communities and building and equipping classrooms in three communities.
Prof. Justine Namaalwa, making a presentation to the Board during the meeting with Scholars Program staff. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Prof. Justine Namaalwa, making a presentation to the Board during the meeting with Scholars Program staff.

Prof. Namaalwa also elaborated on the accomplishments thus far in the second phase of the Scholars Program by highlighting the following;

  • 101 Scholars recruited into the Program across different categories.
  • Prioritizing the safety of students and staff, emphasized by the well-articulated Makerere University Safeguarding Policy and its implementation activities.
  • A fully operational Disability Inclusion Support Centre.
A Board Member posing a question to Program Staff during their interaction with the team. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
A Board Member posing a question to Program Staff during their interaction with the team.

On the other day’s activities, the Board also had the chance to view a mini-exhibition showcasing projects implemented by the alumni scholars. Furthermore, they engaged in a focus group discussion with both the Scholars and alumni.

On their part, the Board members expressed gratitude to Makerere University Management, led by Prof. Nawangwe, for the tremendous achievements the university had attained through the implementation of the Scholars Program and other initiatives aimed at uplifting underprivileged young people in Uganda and Africa. The Board members also expressed their appreciation to Prof. Namaalwa and the Scholars Program for the excellent job done in implementing the Scholars Program and for the continuous support provided to the Scholars and Scholar-alumni.

Ms. Reeta Roy, the President & CEO of Mastercard Foundation inspecting one of the alumni stalls during the exhibition. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Ms. Reeta Roy, the President & CEO of Mastercard Foundation inspecting one of the alumni stalls during the exhibition.

The Vice Chancellor, Prof. Nawangwe, concluded the day by presenting each visitor with an unforgettable souvenir of Makerere, which included exquisite Makerere University coffee mugs and executive pens.

Prof. Nawangwe presenting a souvenir to H.E. Ellen Johnson at the end of her visit to Makerere University. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Prof. Nawangwe presenting a souvenir to H.E. Ellen Johnson at the end of her visit to Makerere University.

Mr. Bernard Buteera is the Principal Communication and Public Relations Officer of the Mastercard Foundation Scholars Program at Makerere University

More photos from the visit

Members of the Board interacting with a cross-section of the Scholars and alumni of Mastercard Foundation during a focus group discussion. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Members of the Board interacting with a cross-section of the Scholars and alumni of Mastercard Foundation during a focus group discussion.

H.E. Ellen Johnson and other Board Members interact with a student during a visit to the Disability Support Centre. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
H.E. Ellen Johnson and other Board Members interact with a student during a visit to the Disability Support Centre.

Prof. Nawangwe, H.E. Ellen Johnson, Ms. Reeta Roy and other Board Members pose for a photograph with Scholars Program Staff. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Prof. Nawangwe, H.E. Ellen Johnson, Ms. Reeta Roy and other Board Members pose for a photograph with Scholars Program Staff.

Prof. Nawangwe, H.E. Ellen Johnson, Ms. Reeta Roy, and other Board members pose in a photograph with a cross-section of Scholars and alumni of Mastercard Foundation at Makerere. Mastercard Foundation Board Inaugural visit to Makerere University led by H.E. Ellen Johnson Sirleaf, former President of Liberia, 17th June 2025, Kampala Uganda, East Africa.
Prof. Nawangwe, H.E. Ellen Johnson, Ms. Reeta Roy, and other Board members pose in a photograph with a cross-section of Scholars and alumni of Mastercard Foundation at Makerere.

Bernard Butare

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Mak Endowment Fund 3rd Board of Trustees Inaugurated

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Seated: Mrs. Lorna Magara (Centre) with Prof. Sarah Ssali (Left) and Dr. Margaret J. Kigozi (Right) with other officials (Standing) after inauguration of the 3rd MakEF Board on 23rd October 2025. The 3rd Board of Trustees of the Makerere University Endowment Fund (MakEF) officially inaugurated by Mrs. Lorna Magara, Chairperson of the University Council, 23rd October 2025, Council Room, Kampala Uganda, East Africa.

The 3rd Board of Trustees of the Makerere University Endowment Fund (MakEF) has been officially inaugurated in a ceremony presided over by Mrs. Lorna Magara, Chairperson of the University Council on 23rd October 2025, and moderated by the Secretary to the Board, Mr. Emmanuel Kitamirike

In her address, Mrs. Magara commended the outgoing board, led by Dr. Margaret J. Kigozi, for their remarkable stewardship that saw the Fund grow from UGX 8.66 billion in 2021 to UGX 14.54 billion in 2025. She underscored the Endowment Fund’s vital role in ensuring the University’s financial sustainability amidst fluctuating public funding, reaffirming the Council’s commitment to providing policy and institutional support. Mrs. Magara further urged the incoming Board to uphold transparency, strengthen alumni engagement, and pursue innovative investment strategies to expand the Fund’s impact as Makerere continues to build for the future.

Mrs. Lorna Magara addresses the meeting. The 3rd Board of Trustees of the Makerere University Endowment Fund (MakEF) officially inaugurated by Mrs. Lorna Magara, Chairperson of the University Council, 23rd October 2025, Council Room, Kampala Uganda, East Africa.
Mrs. Lorna Magara addresses the meeting.

Board composition

The newly inaugurated 3rd Board of Trustees (2025–2029) brings together a team of distinguished professionals whose expertise spans business, academia, finance, governance, and social advocacy. Notably, some members have been reappointed in recognition of their exceptional service and contribution to the Fund’s growth during the previous term. The Board is chaired by Dr. Margaret J. Kigozi, a seasoned business leader and former Executive Director of the Uganda Investment Authority (UIA). She is joined by accomplished members including Ms. Jennifer Mwijukye, CEO and founder of Unifreight Cargo Handling Limited; Mr. Ninsiima John Chris, Director of Programmes at NUDIPU and member of the Makerere University Council; Mr. Kenneth Mugambe, former Director of Budget at the Ministry of Finance; Prof. Buyinza Mukadasi, Makerere University’s Academic Registrar and Professor of Forestry Resource Economics; and Mr. Sam Ayesiga, a governance and investment expert with vast experience across Africa. Their diverse backgrounds and renewed commitment are expected to steer the Fund toward even greater stability, innovation, and impact in the years ahead.

Representing the Vice Chancellor, Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the outgoing Board of Trustees of the Makerere University Endowment Fund for their exceptional service marked by growth, innovation, and accountability. She noted that the growth of the fund to UGX 14 billion is a clear testament to strategic vision, prudent management, and confidence in Makerere University’s long-term sustainability. Prof. Ssali praised the Board for initiatives that have united thousands of alumni, staff, and partners, notably through the Makerere Run, which has supported disability inclusion and empowerment.

The Acting Vice Chancellor Prof. Sarah Ssali. The 3rd Board of Trustees of the Makerere University Endowment Fund (MakEF) officially inaugurated by Mrs. Lorna Magara, Chairperson of the University Council, 23rd October 2025, Council Room, Kampala Uganda, East Africa.
The Acting Vice Chancellor Prof. Sarah Ssali.

She also recognized the introduction of the MakAdvance digital platform as a milestone in promoting efficiency and transparency. She welcomed the incoming Board, and challenged the new team to grow the Fund beyond UGX 25 billion through deeper engagement, innovative fundraising, and stronger partnerships. She reaffirmed Management’s commitment to supporting the Fund within robust governance frameworks that inspire stakeholder confidence, emphasizing the shared vision of building a financially resilient Makerere University.

During the handover ceremony, Dr. Margaret J. Kigozi, the Chairperson, reflected on the remarkable progress achieved under the 2021–2025 term, noting the Fund’s growth from UGX 8.66 billion to UGX 14.54 billion — a 68% increase despite global economic challenges. She highlighted key milestones including the institutionalization of the Makerere Run, establishment of the Makerere Gift and Souvenir Shop, launch of The Legacy e-newsletter, and the creation of the Jawaher Fund for the Advancement of Women’s Education, supported by NAMA Establishment in the UAE. Dr. Kigozi expressed gratitude to the outgoing Trustees and reaffirmed her commitment, alongside the new Board, to advance transformative projects such as the construction of the Makerere University Students’ Centre and development of the Makindye land. She emphasized that the Fund’s goal remains to build a financially sustainable Makerere University capable of supporting innovation, research, and academic excellence for generations to come.

Mrs. Lorna Magara (Right) with Dr. Margaret J. Kigozi and her award for her previous tenure as Chairperson. The 3rd Board of Trustees of the Makerere University Endowment Fund (MakEF) officially inaugurated by Mrs. Lorna Magara, Chairperson of the University Council, 23rd October 2025, Council Room, Kampala Uganda, East Africa.
Mrs. Lorna Magara (Right) with Dr. Margaret J. Kigozi and her award for her previous tenure as Chairperson.

At the inauguration, the Deputy Vice Chancellor in charge of Finance and Administration, Prof. Winston Tumps Ireeta underscored the Fund’s central role in ensuring Makerere’s financial sustainability and institutional legacy. He described the Endowment Fund as a cornerstone of the University’s vision—an instrument through which Makerere secures its future, strengthens its independence, and sustains strategic investments in teaching, research, and innovation. He extended heartfelt appreciation to the outgoing Board, chaired by Dr. Margaret J. Kigozi, for their dedicated service and strong leadership that fortified the Fund’s governance, fundraising, and asset management.

Welcoming the new Board, he congratulated the members on their appointment and urged them to continue expanding and mobilizing resources with integrity and innovation. He reaffirmed his office’s commitment to providing administrative and financial support to ensure that the Fund thrives beyond annual budgetary constraints, contributing meaningfully to Makerere’s vision of becoming a research-led, financially resilient, and globally respected institution.

The Makerere University Endowment Fund (MakEF) was established to secure the University’s financial sustainability by mobilizing, investing, and managing resources to support its core functions of teaching, research, and innovation. Originating from donations made as early as the 1930s, the Fund has evolved into a strategic vehicle that aims to reduce dependence on public funding. It is governed by a Board of Trustees appointed by the University Council, responsible for overseeing investments and resource mobilization. Through initiatives like alumni engagement, digital giving, and events such as the Makerere Run, the Fund continues to grow and strengthen Makerere’s vision of being a research-led and financially resilient institution.

Eve Nakyanzi

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First Deputy Vice Chancellor Prof. Sarah Ssali courtesy visit to MakPress

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Prof. Sarah Ssali and Dr. William Tayeebwa together with staff show off some of MakPress' publications during the visit on 21st October 2025. First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali visits Makerere University Press (MakPress), which she visited today on 21st of October 2025, Kampala Uganda, East Africa.

As part of her efforts to familiarize herself with the offices under her docket, the newly appointed First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali, has embarked on a series of visits to different units that report to her office. One of these is the Makerere University Press (MakPress), which she visited today on 21st of October 2025, on a courtesy call. She was received by the Managing Editor for MakPress, Dr. William Tayeebwa, a Senior Lecturer in the Department of Journalism and Communication at the College of Humanities and Social Sciences. Previously, MakPress operated jointly with the Directorate of Graduate Training (DGT) and the Directorate of Research, Innovations and Partnerships (DRIP) before becoming a standalone entity. Accompanying Prof. Ssali on this visit were Prof. Julius Kikooma, the Director of DGT, and Mr. Mathias Ssemanda, the Acting Manager of the International Relations Office.

Prof. Sarah Ssali (2nd Right) flanked by Left-Right: Mr. Matthias Ssemanda, Prof. Julius Kikooma, Dr. William Tayeebwa and Ms. Eunice Rukundo signs the MakPress Visitors' Book. First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali visits Makerere University Press (MakPress), which she visited today on 21st of October 2025, Kampala Uganda, East Africa.
Prof. Sarah Ssali (2nd Right) flanked by Left-Right: Mr. Matthias Ssemanda, Prof. Julius Kikooma, Dr. William Tayeebwa and Ms. Eunice Rukundo signs the MakPress Visitors’ Book.

During her visit to MakPress, Prof. Sarah Ssali commended the Unit for its progress and partnerships while emphasizing the need to strengthen collaboration with key institutions such as the National Curriculum Development Centre (NCDC), the Ministry of Education and Sports, and other universities. She encouraged the Press to explore practical working models, including leveraging external expertise and streamlining its printing processes to enhance efficiency. Prof. Ssali also highlighted the importance of safeguarding intellectual property, ensuring fair contractual terms with partners, and maintaining transparency in publishing agreements. She advised that Makerere University Press should position itself strategically by producing high-quality academic materials that serve both national and international audiences. Additionally, she urged the team to adopt a more consistent publication schedule—launching books quarterly or biannually—and to organize events where authors can engage directly with readers, scholars, and policymakers. Prof. Ssali reaffirmed the administration’s support toward building a stronger, more vibrant university press that effectively contributes to research dissemination, academic dialogue, and national development.

Dr. William Tayeebwa (R) autographs a copy of the Centennial Publication "Makerere's Century of Service to East Africa and Beyond" for Prof. Sarah Ssali (Right). First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali visits Makerere University Press (MakPress), which she visited today on 21st of October 2025, Kampala Uganda, East Africa.
Dr. William Tayeebwa (R) autographs a copy of the Centennial Publication “Makerere’s Century of Service to East Africa and Beyond” for Prof. Sarah Ssali (Right).

During the courtesy visit, Dr. William Tayeebwa highlighted the milestones and ongoing projects at the Press. He spoke about the growing partnerships with institutions such as the University of Chicago Press, the University of California Press, and the African Books Collective, which have enhanced both local and international visibility of Makerere’s publications. “Why make a university press when you have Makerere University Press”, Dr. Tayeebwa said urging public universities to utilize MakPress. Dr. Tayeebwa also shared that the Press has republished several titles, launched new book projects, and developed a digital platform that enables readers to access and purchase books online. However, he pointed out a number of challenges affecting the Press’s operations, including inadequate funding, limited printing capacity at the university printery, and delays that often affect the timely release of publications. He further noted the difficulty of accessing generated funds due to bureaucratic procedures, space and infrastructure limitations, and the continued confusion between the roles of the Press and the printery. Despite these challenges, Dr. Tayeebwa reaffirmed the commitment of his team to strengthen Makerere University Press as a central pillar in advancing research dissemination and academic publishing.

Dr. William Tayeebwa (3rd R) gestures during MakPress Staff interaction with the DVCAA. First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali visits Makerere University Press (MakPress), which she visited today on 21st of October 2025, Kampala Uganda, East Africa.
Dr. William Tayeebwa (3rd R) gestures during MakPress Staff interaction with the DVCAA.

Eve Nakyanzi

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MURBS celebrates growth in FY2024/25 performance

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Left to Right: Prof. Sarah Ssali, Mrs. Lorna Magara, Dr. Michael Kizito and Mr. Mark Lotukei at the presentation of MURBS FY2024/2025 performance on 21st October 2025. Makerere University Retirement Benefit Scheme (MURBS) presents performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders, 21st October 2025, Telepresence Centre, Senate building, Kampala Uganda, East Africa.

Makerere University Retirement Benefit Scheme (MURBS) has presented its performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders on 21st of October in the Telepresence Centre, Senate building. MURBS which is a Mandatory Employer-Based Scheme was established by Makerere University under an irrevocable trust effective 1st April 2009 to provide retirement benefits to employees of Makerere University.

Council applauds MURBS Performance

In her remarks at the presentation, the Chairperson of the University Council, Mrs. Lorna Magara, commended the Scheme’s steady progress and reaffirmed the Council’s commitment to safeguarding staff welfare. She noted that MURBS has grown into a trusted, transparent, and professionally managed scheme that continues to strengthen confidence among staff. Mrs. Magara praised the Board of Trustees for their prudent management and governance, describing their work as not merely financial stewardship but the protection of the hopes and futures of Makerere families. She urged continued focus on member education, digital service delivery, and sustainable fund growth, emphasizing that the ultimate goal is to build a lasting legacy of trust and financial wellbeing for all university employees.

Mrs. Lorna Magara. Makerere University Retirement Benefit Scheme (MURBS) presents performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders, 21st October 2025, Telepresence Centre, Senate building, Kampala Uganda, East Africa.
Mrs. Lorna Magara.

MURBS demonstrates liquidity and resilience amid a volatile economy

Representing the Vice Chancellor, the Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the Makerere University Retirement Benefits Scheme (MURBS) for its continued growth, accountability, and prudent management. She applauded the Scheme’s record fund value of UGX 475 billion and its unqualified audit opinion from KPMG, describing these milestones as clear evidence of transparency and sound governance. Prof. Ssali reaffirmed Makerere University’s full commitment as the Scheme’s sponsor, noting the progress made in clearing historical arrears and supporting MURBS operations. She praised the Board’s disciplined investment strategy—particularly its diversification into unit trusts and near-cash assets—which has enhanced liquidity and resilience amid a volatile economy. Highlighting MURBS as a model of good governance and accountability, Prof. Ssali emphasized that a reliable retirement scheme not only secures staff futures but also strengthens motivation, productivity, and institutional excellence.

Prof. Sarah Ssali. Makerere University Retirement Benefit Scheme (MURBS) presents performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders, 21st October 2025, Telepresence Centre, Senate building, Kampala Uganda, East Africa.
Prof. Sarah Ssali.

Embrace digital transformation – URBRA urges

From Uganda Retirement Benefits Regulatory Authority (URBRA), the Manager Market Conduct, Mr. Mark Lotukei commended MURBS for its continued commitment to compliance, member education, and sectoral excellence. He highlighted that the Authority has been focusing its trainings on strengthening trustees’ capacity, with recent sessions covering strategic tax planning to help schemes minimize liabilities and safeguard members’ funds. Mr. Lotukei further announced upcoming trainings on benefits administration, stakeholder roles, and the contribution of pension funds to infrastructure and economic development. Emphasizing the evolving nature of the pension landscape, he urged trustees to embrace digital transformation, improve communication with members, and promote sustainable and innovative investment strategies. He concluded by reaffirming URBRA’s commitment to supporting MURBS and other schemes, assuring stakeholders of the Authority’s openness to continued collaboration and guidance.

Mr. Mark Lotukei. Makerere University Retirement Benefit Scheme (MURBS) presents performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders, 21st October 2025, Telepresence Centre, Senate building, Kampala Uganda, East Africa.
Mr. Mark Lotukei.

Fund Value Hits Record UGX 475 billion

In his presentation on the performance, the Chairperson of the Board of Trustees, Dr. Michael Kizito, highlighted the Scheme’s continued growth, prudent financial management, and commitment to transparency. He reported that MURBS’ total assets had risen to UGX 475 billion, up from UGX 409 billion the previous year, reflecting strong investment performance and effective governance. Dr. Kizito commended the University management for timely remittances and reaffirmed the Board’s focus on sound risk management, diversification, and member satisfaction. He acknowledged the dedication of the trustees, staff, and service providers, noting that their collective effort has positioned MURBS for sustainable success. Looking ahead, he emphasized the Scheme’s intention to strengthen alternative investments and optimize operations to deliver even greater value to members and stakeholders.

Dr. Michael Kizito. Makerere University Retirement Benefit Scheme (MURBS) presents performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders, 21st October 2025, Telepresence Centre, Senate building, Kampala Uganda, East Africa.
Dr. Michael Kizito.

The presentation of the performance of the scheme is one of the activities leading to the Annual General Meeting and it is done to management and the Sponsor of MURBS. The presentation, which attracted several key stakeholders including members of the University Council and representatives from Stanbic Bank and Old Mutual, concluded with an engaging question-and-answer session moderated by Dr. Deus Kamunyu Muhwezi. The session provided an opportunity for participants to seek clarity on the Scheme’s performance, governance practices, and investment strategies, fostering transparency and open dialogue between the MURBS leadership and its partners. MURBS is licensed by the Uganda Retirement Benefits Regulatory Authority (License No. RBS.0005).

Eve Nakyanzi

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