Mr. Tetteh Ayitevie (3rd L), Prof. Edward Bbaale (4th R), Dr. Felix Wamono (3rd R) and officials pose for a group photo with four of the Top Five Actuarial Science Students of the 75th Graduation Ceremony on 11th June 2025.
In a strategic move aimed at strengthening Uganda’s financial and insurance sectors, Prudential Uganda has awarded UGX 135 million to the top five graduates of Makerere University’s Actuarial Science program, underscoring its firm commitment to nurturing globally competitive actuarial talent within the country.
The initiative, operating under the Prudential Actuarial Support Scheme (PASS) is a transformative partnership launched in 2022 between Prudential Uganda and Makerere University, anchored in a five-year renewable agreement aimed at cultivating professional excellence in actuarial science through merit-based support. Under this scheme, the top five actuarial graduates from the College of Business and Management Sciences (CoBAMS) at Makerere University are each awarded a cash prize of USD 500—a tangible recognition of academic brilliance and perseverance.
Beyond the monetary reward, PASS provides a robust framework of academic and professional support, including sponsorship for globally recognized certification exams, industry mentorship, and hands-on training opportunities. This holistic approach ensures that Uganda’s brightest actuarial minds are not only celebrated, but also empowered to thrive on the global stage.
L-R: Exceptional graduate award recipients; Kenneth Inyangat, Gordon Twinomujuni, Daphine Katana and Allan Galabuzi.
During a press conference held on 11th June 2025, the five exceptional graduates were recognized for their academic excellence and potential to shape the future of Uganda’s financial services industry. Mr. Brendan Joseph Lule, Mr. Gordon Twinomujuni, Mr. Allan Galabuzi, Ms. Daphine Katana, and Mr. Kenneth Inyangat—each received a cash prize of USD 500 and full sponsorship for globally recognized actuarial certification exams. This award positions them on an accelerated path toward international professional accreditation.
Speaking during the press briefing, Prof. Edward Bbaale, Principal of the College of Business and Management Sciences (CoBAMS), applauded the partnership between Makerere University and Prudential Assurance Uganda for coming up with an initiative that inspires students to aim higher and a clear message that their hard work is recognized and valued beyond the lecture halls.
Prof. Bbaale described the collaboration, formalized under PASS as a transformative coalition that would significantly shape the future of actuarial science education in Uganda. He emphasized the real-world value of the support offered through the scheme, noting that at least 10 students undertook professional actuarial exams under the initiative. He highlighted that the top-performing student is further rewarded with a one-year apprenticeship at Prudential Uganda—an opportunity he described a profound investment in hands-on experience and career development. He reported that at least two graduates had benefited from this prestigious placement, gaining invaluable industry exposure that bridges academic excellence with professional practice.
“The PASS is a visionary initiative that rewards academic excellence and builds professional capacity. Through this scheme, the top five actuarial science graduates each year will receive cash prizes of $500. They will also benefit from support for professional certification exams, including those offered by the Institute and Faculty of Actuaries and the Society of Actuaries,” Prof. Bbaale remarked.
At the national level, Prof. Bbaale emphasized that the collaboration between Makerere University and Prudential Uganda directly addresses Uganda’s pressing need for skilled actuaries in key sectors such as insurance, pensions, and healthcare. He noted that the Prudential Actuarial Support Scheme effectively aligns academic training with industry demands, thereby enhancing the relevance of university education in the context of national development. He remarked that this alignment contributes meaningfully to Uganda’s human capital development agenda and supports the broader goal of strengthening institutional capacity in financial risk management.
L-R: Mr. Tetteh Ayitevie – Chief Executive Officer of Prudential Uganda, Ms. Daphine Katana – Exceptional Graduate Award Recipient, and Prof. Edward Bbaale – Principal of Makerere University College of Business and Management Sciences (CoBAMS).
The Principal commended Prudential Assurance Uganda for their visionary support and long-term commitment. He said the partnership with Makerere University College of Business and Management Sciences (CoBAMS) represents more than a financial investment, but a bold step toward professionalizing actuarial education in Uganda and preparing students for leadership and service in the financial sector. “Together, we are building a stronger, more skilled Uganda—one actuary at a time,” he affirmed.
Describing the occasion as a celebration of excellence, resilience, and the immense potential of a new generation of actuaries destined to shape Uganda’s insurance and financial landscape, Mr. Tetteh Ayitevie, Chief Executive Officer of Prudential Uganda, expressed deep pride in the Prudential Actuarial Support Scheme.
He stated that the initiative is a bold and forward-looking investment in the country’s actuarial leadership. He commended the graduates for their academic tenacity and discipline, noting that their achievements reflected not only personal merit, but also the promise of a stronger, self-sustaining insurance sector.
“You have survived the course load, and now, you are stepping into the real world ready to contribute meaningfully. We see you. We believe in you. And we are proud of you,” Mr. Ayitevie said.
He reiterated the crucial role of actuarial science in modern economies, highlighting it as the engine behind robust insurance frameworks, risk modeling, and long-term financial planning. According to Mr. Ayitevie, despite its understated visibility, actuarial work underpins the stability of entire financial systems, and Uganda must rise to the challenge of building this critical professional cadre.
“Actuarial science may not be the loudest career path, but it is one of the most vital. It’s the heartbeat of any insurance company. It’s where math meets life. It’s where you predict risks, protect people, and create sustainable financial systems,” he stated.
He also drew attention to the glaring gap in Uganda’s actuarial landscape, noting the country’s limited number of certified actuaries in contrast to its population size. He stressed the urgency of cultivating homegrown expertise rather than relying on outsourced talent, positioning the Prudential Actuarial Support Scheme as a strategic intervention to reverse this trend.
Over 40 Ugandan government officials have been called to integrate communities into biodiversity conservation following a two-day high-level training (August 20–21, 2025) at Makerere University.
Organized by EfD Uganda, the workshop focused on biodiversity conservation, community-based natural resource management, and economic valuation of national parks. Led by renowned environmental economist Prof. Edwin Muchapondwa, the training emphasized aligning conservation efforts with community involvement for lasting impact.
“Communities must be seen not just as beneficiaries but as co-managers of biodiversity,” said Prof. Muchapondwa. “Policy frameworks need to devolve rights to local people to increase their stake in conservation outcomes.”
Participants from ministries and agencies explored Uganda’s biodiversity challenges—including habitat loss, agricultural expansion, poaching, and climate change. Sessions covered conservation principles, legal frameworks, ecosystem valuation, and regulatory tools to integrate biodiversity into national planning.
A section of participants.
Valuing Nature to Shape Policy
A central theme was the economic valuation of ecosystems—putting monetary value on biodiversity to inform policy and investment decisions.
“When we reduce everything to a common metric, we can make objective, evidence-based decisions—especially when weighing development against conservation,” Prof. Muchapondwa said.
Participants in a group discussion.
Officials practiced applying valuation methods like contingent valuation and payment for ecosystem services in real-world policy settings, including environmental impact assessments and Uganda’s National Development Plan III.
Despite strong conservation policies on paper, implementation remains weak. “The issue isn’t policy absence but execution,” he noted. “We must adapt successful community-based models from Southern Africa to Uganda’s context.”
A section of participants.
Tourism and Development: A Delicate Balance– Prof. Edward Bbaale
Speaking at the opening, Prof. Edward Bbaale, Director of the EfD–Mak Centre, emphasized collaboration between academia and government to support tourism development and sustainable resource use.
He praised Prof. Muchapondwa as a “pillar of the Environment for Development network” and highlighted the urgent need for research that connects tourism, conservation, and economics.
Prof. Edward Bbaale opening the training.
“We’ve had little research from Makerere on tourism and natural resource valuation,” Bbaale said. “Yet this is exactly where government seeks advice.”
Bbaale underscored Uganda’s ambition to grow GDP tenfold—from $50 billion to $500 billion—through sectors like tourism, agro-industrialization, and manufacturing, urging researchers to support this growth with evidence-based insights.
Prof. Edward Bbaale during the introductions.
“Makerere houses the highest concentration of PhDs in this country,” he said. “If this research isn’t happening here, where else should it happen?”
The event concluded with a renewed call for stronger partnerships among academia, government, and communities to ensure conservation and development go hand-in-hand.
Public Sector Must Rethink Economic Policy Through Biodiversity Lens– Dr. Peter Babyenda
Uganda risks jeopardizing its natural wealth if it continues to undervalue its ecological resources, warned Dr. Peter Babyenda, Research Fellow and Policy Engagement Specialist at EfD–Mak Centre.
“Our forests, wetlands, and ecosystems are routinely excluded from GDP calculations due to limited technical capacity and funding,” he said. “Kenya has made progress—Uganda must catch up.”
Peter Babyenda Policy Engagement specialist.
To bridge the gap, EfD–Mak Centre, with support from SIDA, has launched a training program for technical staff from ministries and agencies like the Ministry of Tourism, Uganda Wildlife Authority, and NEMA.
“These are the people who draft policy,” Dr. Babyenda said. “We’re training them to use data and evidence, not emotion, when defending policies.”
Some of the group presentations.
He cited recent transport policy missteps—such as a speed enforcement proposal that failed due to lack of public engagement—as an example of why community participation is essential.
“Especially with human-wildlife conflicts, you must involve locals,” he said. “Solutions like electric fencing must be safe and community-driven.”
Conservation vs. Economic Growth
Uganda’s ambitious goal to grow its economy from $50 billion to $550 billion by 2040 presents risks to biodiversity, particularly from agricultural expansion. Dr. Babyenda stressed the need to balance development with environmental preservation.
“We must promote agriculture without destroying forests and wetlands,” he said. “Our tourism sector, which depends heavily on biodiversity, must also be protected.”
Prof. Mchapodwa delivering the lecture at EfD Uganda.
He urged officials to present conservation as an economic asset. “If you show that every additional dollar invested in tourism marketing creates jobs and boosts GDP, people will listen.”
Aligning with Uganda’s National Development Plan IV, Dr. Babyenda called for cross-sector policy coherence.
Some of the group presentations.
“Tourism, agro-industry, and mineral development must be guided by sound, evidence-based policy,” he concluded. “Otherwise, we risk losing it all.”
Participants Reflections from the Training
Adson Tumwebaze – National Environment Management Authority (NEMA) As someone working in the Research and Innovations Unit at NEMA, this training was a timely eye-opener. We’ve gained valuable insights into how economic valuation can be integrated into our research and planning frameworks. Understanding the tangible benefits ecosystems provide—and knowing how to quantify those benefits—equips us with the tools to make informed decisions when balancing development and conservation.
For us at NEMA, this goes beyond theory. It supports our mandate of protecting ecosystems and helps us align our work with national policies such as the National Biodiversity Action Plan and BISAP. One of my key takeaways is that you cannot talk about implementing a project on an ecosystem without understanding its value. Once we can economically define these benefits, we can also justify conservation measures, influence policy, and guide budgeting processes more effectively.
Alice Nalweera – Economic Policy Researcher This training brought clarity to a challenge many of us are grappling with: the growing threats to biodiversity in the face of urbanization, climate change, and population pressure. As we pursue economic development and strive for goals like those outlined in the 2040 export-oriented strategy, we must ask: Can biodiversity and development coexist?
Tourism is one of Uganda’s biggest earners, and it’s entirely dependent on biodiversity—the parks, wildlife, flora, and fauna. Without protecting these resources, our economic aspirations could collapse. What struck me most is the urgent need for accurate data. We can’t conserve what we haven’t identified or valued. Accounting for our natural resources is not optional—it’s essential.
Arthur Ebong – National Planning Authority From the national planning perspective, this training helped bridge a crucial gap between policy and implementation. While NDP III and NDP IV highlight biodiversity mainstreaming, they often lack depth in practical conservation measures. We used to insert the term “biodiversity” into plans, but lacked the tools to truly value and integrate it.
Learning about valuation methods like hedonic pricing and travel cost analysis opened new avenues for making biodiversity count—literally—in our national plans. And beyond the technical tools, this session also promoted inter-agency collaboration. With stakeholders like NEMA, UWA, and the Ministry of Water in the same room, we can now work more cohesively toward a shared goal.
The training has also inspired curriculum reviews. If we want future planners and policymakers to value biodiversity, we must train them early—through revised academic programs and capacity-building initiatives. This is not just about today’s policies, but the long-term socio-economic transformation of Uganda.
Gertrude Kirabo – Uganda Wildlife Authority (UWA) At UWA, we face the challenge of balancing conservation with increasing economic pressure around protected areas. This training has been invaluable in helping us understand how to defend conservation efforts using data-driven economic valuation.
Previously, arguments for protecting a forest or wetland often sounded emotional or abstract. Now, we can present facts—cost-benefit analyses that compare the long-term value of ecosystem services with short-term economic gains. This also supports practical decisions like adjusting park permit fees or advocating for higher conservation budgets.
Personally, this training served as a wake-up call. It made me realize how often we’ve given away resources without truly valuing them. I strongly recommend that more field officers and institutional planners go through this kind of training. It’s one thing to learn these concepts in school, and another to see their real-world application. It’s time we started backing conservation with data and strong economic logic.
Jane Anyango is the Communication Officer EfD Uganda.
Fort Portal, August 18, 2025 — The Public Investment Management Centre of Excellence (PIM CoE), in collaboration with the Ministry of Finance, Planning and Economic Development (MoFPED) and Cambridge Resources International (CRI), has kicked off a two-week intensive training on Economic Appraisal and Stakeholder Analysis for public officers from various Ministries, Departments and Agencies (MDAs). The training, taking place from August 18 to 29, 2025 in Fort Portal, marks the final module of the Investment Appraisal and Risk Analysis (PIAR) II Course.
Dr. John Sseruyange from PIM CoE
In his opening remarks, the Manager of PIM CoE, Dr John Sseruyange, welcomed participants and commended them for their commitment to completing the course. He emphasized that the training was designed to deepen participants’ skills in investment appraisal and ensure that government projects deliver tangible benefits to society. “This training is essential for understanding the impact of development initiatives on people’s welfare. I encourage you to give your undivided attention throughout these two weeks,” he noted.
Prof. Eria Hisali.
Speaking at the same event, Prof. Eria Hisali, Co-Principal Investigator of the PIM CoE, highlighted the centrality of this program to Uganda’s development agenda. He urged participants to appreciate the training not only for their personal growth but also for the wider benefit of the country. “Upon completion, you will be expected to add value by ensuring that only projects with the highest returns on investment and the greatest benefit to the economy are developed and implemented,” he said.
Delivering the remarks of the Permanent Secretary/Secretary to the Treasury (PSST), Principal Analyst-Ms. Esther Ayebare reaffirmed the government’s commitment to strengthening the Public Investment Management System (PIMS). She noted that the training would empower participants with critical tools for evaluating the economic and financial viability of projects in line with the PIMS framework.
Ms. Esther Ayebare.
The PSST encouraged participants to seize the opportunity to engage, share expertise, and apply the knowledge gained in their professional roles to strengthen Uganda’s public investment outcomes.
Dr. Kagarura conducts one of the training sessions.
The PIM CoE expressed gratitude to all partners for their continued collaboration and reaffirmed its commitment to building strong institutional and individual capacities for effective public investment management in Uganda.
The course content will cover a wide range of areas including:
The role of Economic and Stakeholder Analysis in Investment Appraisal.
Economic Analysis of Education, Human Capital, and Infrastructure Projects.
Practical tools and frameworks for assessing the viability of public investments.
A section of participants listen to Dr. Kagarura.
Participants will be guided by a team of expert facilitators from CRI, MoFPED, the National Planning Authority (NPA), and Makerere University, ensuring a blend of theoretical rigor and practical application.
Makerere University, in collaboration with the Ministry of Finance, Planning and Economic Development, convened the 2nd Public Investment Management (PIM) Conference on August 14, 2025, at the Yusuf Lule Central Teaching Facility Auditorium.
Running under the theme “Overcoming Implementation Barriers in Public Investment Management for Fiscal Sustainability”, the conference brought together government officials, academics, development partners, and policy experts to reflect on Uganda’s investment journey, exchange knowledge, and strengthen implementation capacity across projects.
Prof. Buyinza Mukadasi.
In his opening remarks, Professor Buyinza Mukadasi emphasized the importance of public investment management in driving sustainable economic growth while safeguarding fiscal responsibility. He stressed the need for large-scale, high-impact investments in infrastructure, industrialization, human capital, and social services—projects that are not only ambitious on paper but also practically implementable and measurable. Professor Buyinza also highlighted Makerere University’s role through its Public Investment Management Centre, which has trained public officials, revised government guidelines, and advanced evidence-based policy engagement. He reaffirmed the University’s continued commitment to training, research, and policy advocacy in investment planning.
Mr. Hannington Ashaba.
Budget Director Mr. Ashaba Hannington placed the discussion within Uganda’s broader ambitions, pointing to the country’s target of expanding its economy from USD 16 billion to USD 500 billion. Achieving such transformation, he noted, requires a strong public investment management system to ensure efficiency, effectiveness, and sustainability of projects. He cited the Cabinet’s recent approval of the National Public Investment Management Policy (2025), which provides a comprehensive framework to enhance efficiency across the entire investment cycle. The revised guidelines now integrate climate change considerations, enforce social and environmental safeguards, and streamline implementation to overcome bottlenecks.
Mr. Ramathan Ggoobi.
Permanent Secretary and Secretary to the Treasury, Mr. Ramathan Ggoobi, reflected on challenges undermining project delivery, such as delays, cost overruns, and inefficiencies that erode public trust. He stressed the urgent need for accountability, performance-driven leadership, and stronger institutional coordination. He also underscored the role of the private sector and civil society, whose capacity and innovation can complement government efforts in ensuring effective implementation.
Delivering the keynote address, Dr. Donald Kaberuka, former President of the African Development Bank, placed Uganda’s challenges in a broader African context. He pointed out the continent’s persistent resource gap and urged governments to adopt smarter policies, strengthen institutions, and expand domestic revenue mobilization to reduce reliance on aid. He highlighted the importance of strategic investments in education, health, and infrastructure, while reminding participants that good policies must be not only technically sound but also politically feasible and practically implementable. Dr. Kaberuka further emphasized the need to focus on outcomes rather than outputs, optimize public spending, and seize emerging opportunities in climate resilience, digital innovation, and demographic dividends.
Dr. Donald Kaberuka delivers the keynote address.
The conference closed with a call for renewed commitment to fiscal discipline, robust policy frameworks, and effective execution of investment projects. With Uganda’s ambitious economic aspirations, participants agreed that overcoming implementation barriers will require accountability, innovation, and collaboration between government, academia, and development partners. The 2nd PIM Conference reaffirmed Makerere University’s role as a hub of research and capacity building in shaping the country’s investment future.