Business & Management
EfD-Mak, GRO Foundation & BoU Hold High-Level Roundtable on Green and SDG-Linked Financing
Makerere University on Wednesday hosted a high-level policy dialogue bringing together researchers from the Environment for Development (EfD-Mak) Centre, representatives from the Green Gas + Reforestation +Offset (GRO) and Bank of Uganda, to explore alternative financing mechanisms for climate action and sustainable development.
The roundtable, held ahead of the Tumusiime-Mutebile Annual Public Lecture, focused on “Building Capacity and Market Readiness for Green and SDG-Linked Financing Mechanisms through Private Sector Mobilisation Towards Achieving the 10-Fold Economic Transformation (ATMS).”
Discussions highlighted Uganda’s urgent need to expand climate financing, build capacity among financial institutions, and strengthen evidence-based policymaking as climate shocks increasingly affect productivity and inflation.
Partnership With GRO Will Build Capacity for Climate Finance Access – Peter Babyenda
EfD-Mak Policy Engagement Specialist and Research Fellow Peter Babyenda said the centre is implementing an Inclusive Green Economy capacity-building program, with this year’s focus on climate-smart agriculture—an area that requires substantial financing for farmers and enterprises.
“For you to promote climate-smart agriculture, you need people who can provide finances for farmers to buy the technologies,” he said.
Babyenda explained that EfD-Mak’s collaboration with GRO is aimed at equipping the private sector and financial institutions with the capacity to mobilize and access climate finance, especially for climate-smart investments.
He added that EfD-Mak has recently partnered with the Ministry of Finance to provide evidence for climate action and stands ready to support GRO through stakeholder linkages, technical training and policy research.
“This roundtable is the start of our collaboration with GRO,” he noted, emphasizing that both institutions are aligned in scaling capacity and readiness for climate financing.
Uganda Must Mobilize Private Capital to Meet Climate and Growth Goals– Prof. Bbaale
Delivering the keynote address, Prof. Edward Bbaale, Principal of CoBAMS and Director of EfD-Mak Centre, warned that abnormal weather patterns such as the extreme heat recorded in November underscore Uganda’s growing climate vulnerability.
“When 26th November feels like January or July, then something is not working well with our environment,” Bbaale said.
He stressed that Uganda’s ambition to achieve a ten-fold economic transformation requires a financing ecosystem that supports sustainability, innovation and private sector participation. He noted that Uganda needs US$228 billion to implement its Nationally Determined Contributions (NDCs), yet climate finance access remains constrained.
“The question is not whether we can participate in the global green financing momentum, but how quickly and effectively we can mobilize the private sector and strengthen institutional capacity,” he said.
Bbaale Reaffirms EfD-Mak’s Readiness to Build Capacity and Partner Across Sectors
Prof. Bbaale placed strong emphasis on capacity building as a cornerstone of Uganda’s transition to a green economy. He highlighted EfD-Mak’s ongoing regional program that trains senior civil servants from five East African countries on using fiscal policy to spur green transformation.
“At the EfD-Mak Centre we believe that knowledge, evidence and partnerships are essential ingredients for real transformation,” he said. “We are ready to collaborate with government, with GRO, with international partners to build the capacity needed to advance climate-responsive and SDG-aligned economic planning.”
He underscored that Makerere University has become more open to partnerships and is pursuing a research-led, innovation-driven agenda, adding that such collaboration is central to the university’s strategic plan.
“Makerere is now more collaborative than ever before. As a research-led university, our success depends on partnerships, knowledge-sharing and internationalisation,” he said.
Bbaale Stresses Need for Evidence to Guide Policy, Fiscal and Monetary Decisions
Bbaale highlighted that researchers must generate real-time evidence to support government and financial sector decisions, especially as climate shocks begin to influence macroeconomic indicators such as inflation.
He noted that changing weather patterns have altered harvest cycles, with crops maturing earlier and reducing food availability—factors that directly affect inflation and complicate the Bank of Uganda’s monetary policy operations.
“If the environment is hitting output and therefore inflation, then monetary policy must speak to environmental shocks,” he said.
Bbaale also pointed to the critical need for natural capital accounting, fiscal policy reforms, and institutional strengthening to enable Uganda to unlock climate finance and achieve sustainable economic growth.
Prof. Bbaale urged participants to use the roundtable to diagnose gaps in market readiness, strengthen networks, and advance financial innovations that complement public funding.
“Let us approach today not just as an event, but as part of a broader national commitment to building resilient, green and inclusive economies,” he said.
He encouraged active engagement throughout the session and assured stakeholders that EfD-Mak would continue to support national, regional and global climate initiatives—including the Coalition of Finance Ministers for Climate Action, where Uganda currently serves as co-chair.
GRO Foundation Pledges to Mobilise $1 Billion Annually as Uganda Ramps Up Green and SDG-Linked Financing
Executive Director of the GRO Foundation Laban Joshua Musinguzi, announced that the organisation is committing to mobilising US$1 billion every year for the next five years to support Uganda’s climate finance ambitions, alternative financing mechanisms and the country’s broader goal of economic transformation.
Musinguzi described the session as both a tribute to the legacy of the late Governor Emmanuel Tumusiime-Mutebile and a call to accelerate Uganda’s readiness for innovative and market-based climate finance.
He opened his remarks by honouring the late Mutebile as a pioneer of macroeconomic stability, institutional reforms and private-sector-led growth.
“Today is memorable because we are here to honour a legacy and inspire the future,” he said. “Mutebile’s vision for resilient financial ecosystems still runs in the blood of young economists and statisticians. I am one of them—I studied here, so I am back home.”
He added that Mutebile’s emphasis on private sector participation remains central to Uganda’s ability to mobilise the financing needed for green growth.
Mr. Musinguzi explained that the GRO Foundation—Greenhouse Gas Reforestation Offsets is a social enterprise committed to alleviating poverty by unlocking climate finance through innovative financial instruments.
“We unlock climate finance by creating financial instruments,” he said.
“These include green bonds, carbon certificates, sustainability bonds and commodity-backed bonds.”
He highlighted that GRO is an “interesting space open to disruptive technology,” and reaffirmed the foundation’s willingness to deepen its partnership with Makerere’s EfD-Mak Centre, financial institutions and government agencies.
The foundation works under the “Fantastic Four framework”—forestation and deforestation, food security, water security, education and skilling, and green jobs—with the current engagement at Makerere falling under the education and skilling pillar.
Musinguzi said Uganda aims to transform its economy to US$500 billion by 2040, but global shifts are demanding new sources of capital, including green financing, SDG-linked financing and capital markets.
“COP30 reinforced alternative financing as key for developing economies,” he said, adding that Uganda made commitments at the global climate conference to accelerate green bonds and SDG-linked bonds.
Uganda is currently implementing five climate finance strategies—among them the green taxonomy and the climate financing vehicle but Musinguzi stressed that implementation now matters more than awareness.
“We are in the last phase of the SDG agenda. We have no time for awareness—we have time for implementation,” he said.
Gaps in Uganda’s Readiness: ESG Integration Still Below 20%
Musinguzi outlined several gaps affecting Uganda’s readiness to access global climate finance: Only 30–40 financial institutions have internal ESG reporting frameworks; Less than 20% of climate risk guidelines have been integrated into credit products; Commercial banks lack clarity on what qualifies as a “green loan” and that Uganda’s regulatory frameworks have not evolved at the pace of technological disruption
He added that Uganda’s first carbon revenue—about US$40 million took nearly a decade to materialise, underscoring how delays in documentation, data and compliance slow financing.
“We must demonstrate institutional capacity through monitoring, reporting and evaluation systems to unlock financing,” he said.“We must be ready for this money.”
GRO’s Track Record: $1.5 Billion Already Mobilised, New Target of $10 Billion
Musinguzi reported that GRO has already mobilised US$1.5 billion, a commitment made at COP Azerbaijan and later presented during Uganda’s National SDG Conference and the Ministry of Water and Environment’s annual reports.
For 2025–2026, the foundation has set a more ambitious target: “We aim to mobilise US$10 billion next financial year.” He emphasised that when GRO says “mobilise,” it means actualinflow, not mere pledges.
“We mobilise, not promise,” he said. “By the time we call it mobilising, we have already brought the money into the country.”
These funds will support Climate finance business windows, Carbon certification schemes (100 million certificates already registered), Private-public-community partnership models and Clean energy, food security, waste management and youth skilling programmes
Concluding his remarks, Musinguzi urged policymakers, academia, financial institutions and development actors to treat climate finance readiness as a national priority.
“The conversation begins here,” he said. “If not now, then when? And if not us, then who?”
He reaffirmed GRO Foundation’s commitment: “We are ready to mobilise US$1 billion every year for Uganda for the next five years.”
Bank of Uganda Positions Sustainability at Core of Financial Sector Reform
The Bank of Uganda (BoU) has intensified efforts to embed sustainability and Environmental, Social and Governance (ESG) standards across the country’s financial system, describing sustainable development as a “strategic imperative” for Uganda’s long-term economic resilience.
Prisca Ampumuza Rwamare, BoU’s Director of Strategy and Innovation, said Uganda cannot achieve its development goals or meet global commitments without a stable, forward-looking financial sector that is prepared for climate shocks, demographic shifts and resource pressures.
“Sustainable development is no longer optional. It is central to building long-term economic resilience,” Ampumuza said, noting that Mutebile himself consistently emphasised the impact of financial institutions on society.
She revealed that the Bank has redefined its purpose and mission under the 2022–2027 strategic plan to reflect its commitment to socioeconomic transformation. “We had to rethink our business model and strategy,” she said. BoU has integrated sustainability into monetary policy operations, financial stability oversight, payment systems modernisation and risk management frameworks.
The central bank has also signed up for the Sustainability Standards Certification Initiative and revised its corporate social responsibility policy to align with ESG priorities.
Ampumuza highlighted several regulatory steps already underway. In partnership with the Uganda Bankers Association, BoU co-developed an ESG framework for the banking sector, launched in June 2024, with commercial banks now reporting quarterly on progress. BoU has also issued guidelines for managing climate-related financial risks and is reviewing its micro- and macro-prudential supervisory tools to enforce ESG compliance.
A key concern, she said, is preventing “greenwashing” in the financial sector. “We take this very seriously,” she noted, warning against superficial sustainability claims that do not reflect real environmental or social impact.
Innovation, Culture Shift and Collaboration Critical
According to Ampumuza, sustainable finance cannot be achieved through policy updates or digital systems alone. She stressed the need for institutional culture change, data-driven supervision and innovative solutions. That week she said the Bank launched an ambitious Innovation Strategy to support this transformation.
She noted that BoU is undergoing a culture change programme to empower its young workforce over 100 newly recruited staff to champion SDGs and sustainable finance within a traditionally cautious institution.
BoU is also collaborating with international partners including the World Bank, IMF, IFC and the global Network for Greening the Financial System (NGFS) to strengthen policy frameworks and build capacity.
Despite progress, Ampumuza said banks continue to struggle with implementing sustainable finance principles due to capacity gaps, absence of baseline ESG data and limited availability of bankable green projects. She revealed that BoU, the Uganda Bankers Association and the Institute of Bankers recently completed a curriculum on sustainable finance to support sector-wide training.
Ampumuza concluded that sustainability is now fully integrated into BoU’s internal operations. A dedicated department and ESG coordination division have been established, and all projects across currency management, logistics and infrastructure must demonstrate compliance with environmental and social standards. “If this is replicated across the banking sector, we will make significant impact,” she said.
Participants Chart Path to Green and SDG-Linked Financing
A panel, moderated by Canary Mugume, comprising Dr. Peter Babyenda, a climate finance economist from Makerere University, Ms. Elizabeth Mwerinde, Head of Commercial Banking at Ecobank, and Dr. John Sseruyange, an environmental economist at Makerere University examined Uganda’s readiness for green and SDG-linked financing, with a special focus on institutional perspectives and market preparedness.
The discussion underscored that sustainable development is no longer optional for Uganda—it is a strategic imperative for economic transformation. Global financial shifts are creating new opportunities through green finance networks, SDG-linked instruments, and carbon markets. Yet, while Uganda’s macroeconomic fundamentals are strong, the greening component of its economy remains weak.
Speakers emphasized the strategic role of diverse actors in mobilizing green finance. Academia, the private sector, financial institutions, and government all share responsibility, but partnerships must also reach beyond traditional stakeholders to include religious and cultural leaders who can influence public awareness and mindsets. The private sector, in particular, was identified as the engine for Uganda’s ambitious economic transformation.
Despite the potential, persistent challenges remain. Low institutional awareness, limited readiness among financial institutions, and the absence of a strong pipeline of bankable green projects hinder progress. Critical data gaps were highlighted, with Uganda possessing “data sets, not databases,” and research outputs were said to insufficiently inform policy and decision-making.
Panelists stressed the need for evidence-based approaches: different sectors require tailored policy instruments, and academia and think tanks have a vital role in guiding government policies, investment design, and risk assessment. Institutions must deepen their understanding of green financing mechanisms, climate risks, and ESG compliance, while reporting standards and transparency must be strengthened across all levels of the financial system.
Innovations and ongoing initiatives offer a glimpse of progress. The launch of a Sustainable Finance Curriculum for financial institutions and platforms like the monthly “Carbon Tuesdays” at Kati Kati are building capacity and creating space for innovative ideas on carbon markets and climate finance. Meanwhile, the government’s deliberate role in shaping regulatory frameworks and deploying policy instruments—including incentives, guarantees, blended finance, and public-private partnerships—was highlighted as essential.
Mobilizing private capital was presented not as a replacement for public finance, but as a critical complement, expanding Uganda’s financing capacity. The country’s credibility, transparency, and demonstrated ability to manage large-scale investments are key to attracting private investors, alongside a clear pipeline of viable instruments.
The roundtable concluded with a call for a renewed strategy: Uganda must return to the drawing board, scale up bankable green projects, and strengthen institutional capacity. Success, panelists agreed, will depend on partnerships, credible data, strong governance, and unified commitment across sectors—a holistic approach to greening Uganda’s economy and advancing sustainable development.
Jane Anyango is the Communication Officer, EfD-Mak Centre
The Gambia is looking to deepen its public investment management (PIM) systems by drawing lessons from Uganda, with a high-level delegation from the West African country visiting Makerere University’s Public Investment Management (PIM) Centre of Excellence to benchmark Uganda’s experience.
The delegation, led by Mr Baboucarr Jobe, Permanent Secretary in The Gambia’s Ministry of Finance, visited Makerere University’s Public Investment Management (PIM) Centre of Excellence to learn from Uganda’s approach to project conceptualisation, appraisal, implementation, monitoring and evaluation.
The visit is part of wider reforms being undertaken by The Gambia to strengthen its economic, judicial and institutional systems, with public investment management identified as a critical area for improvement.
Speaking during the visit, Mr Jobe said The Gambia had embarked on PIM reforms in collaboration with the International Monetary Fund (IMF), which advised the country to benchmark its systems against countries with relevant experience.
“Several countries were recommended, but we ultimately chose Uganda. I am happy to say that we are glad we selected Uganda for this assignment,” he said.
He noted that although the delegation initially intended to focus specifically on public investment management, the visit had exposed them to broader areas with potential for cooperation between Uganda and The Gambia.
The delegation also visited Makerere University’s Innovation Centre, where it explored initiatives that could support collaboration between the two countries in advancing economic development.
Mr Jobe said institutions in The Gambia, including the University of The Gambia and the Civil Service University, could potentially collaborate with Makerere University and its Innovation Centre.
Closing gaps in public investment
Mr Jobe identified project conceptualisation, project evaluation, project implementation, monitoring and evaluation as some of the major gaps in The Gambia’s public investment management system.
He said the delegation was particularly impressed by Uganda’s systematic approach to managing public investments and the collaboration among institutions involved in the process.
“What has impressed us in Uganda is the manner in which the public investment management process is carried out step by step,” he said.
The Gambian delegation also observed collaboration among key government institutions, including the Ministry of Finance, Office of the Prime Minister, Office of the President and other stakeholders.
Mr Jobe said such institutional collaboration was an important lesson that The Gambia would seek to replicate.
The delegation had an opportunity to participate in a Development Committee meeting, where they observed how different government offices work together to advance Uganda’s development priorities.
Makerere Centre plays key role
The visit was hosted by the Public Investment Management Centre of Excellence, which is integrated into Uganda’s broader public investment management system.
Prof. Edward Bbaale welcomed the Gambian delegation and said the visit provided an opportunity for peer learning and exchange of practical experiences between the two countries.
He said countries were at different stages of strengthening their public investment systems, making peer learning an important avenue for identifying approaches that could be adapted to different institutional contexts.
“We hope to share not only what has worked well, but also some of the challenges we have encountered and the lessons we have drawn from them,” Prof. Bbaale said.
He encouraged the delegation to engage openly with the Makerere team, ask questions and share their own experiences to ensure that the benchmarking exercise was practical and mutually beneficial.
Building capacity for better investments
Prof. Eria Hisali, who presented an overview of the Centre, emphasised the importance of strengthening public investment systems to ensure that limited public resources are used effectively.
He explained that capital investments remain a key driver of economic growth, but governments often face resource constraints that make it impossible to implement every proposed project.
A strong public investment management system, he said, enables governments to assess and select projects based on their potential returns and development impact.
The Centre aims to support this process by building a pool of well-prepared projects at different stages of development, enabling government to make informed decisions about which projects to finance and implement.
The PIM Centre of Excellence was established with support from the Foreign, Commonwealth and Development Office (FCDO), the UK Trust Fund and the Government of Uganda. It initially operated as a project before being mainstreamed into the Government of Uganda, with its resources now coming directly from government.
Since its establishment, the Centre has trained 526 public-sector officials in areas related to public investment management.
Its training programmes cover key stages of the PIM cycle, including project conceptualisation, integrated analysis, feasibility studies, financial and economic appraisal, risk analysis, project execution, procurement and evaluation.
Strengthening South–South cooperation
For Mr Jobe, the visit was also an opportunity to challenge the tendency of African countries to look outside the continent for solutions to development challenges.
He argued that African countries operate in broadly similar environments and face many common challenges, making the continent an important source of knowledge and practical solutions.
“We need to move away from always looking outside Africa for solutions. There are many valuable initiatives being undertaken by our African brothers and sisters, and it is important that we learn from one another,” he said.
He proposed stronger partnerships between institutions in Uganda and The Gambia, including possible collaboration between universities and civil service training institutions.
“This visit is one step in that direction. South–South cooperation needs to be further strengthened,” he said.
Investing limited resources for greater impact
The Gambian delegation’s interest in public investment management is closely linked to the country’s development challenges.
According to Mr Jobe, The Gambia’s GDP is currently just under US$3 billion, with annual economic growth estimated at between five and six per cent. Inflation has declined significantly from double-digit levels to approximately seven per cent, although poverty remains high at more than 50 per cent.
He said strengthening public investment management was therefore essential to ensuring that the country’s limited public resources generate tangible benefits for citizens.
“This visit will help us ensure that public investment and the limited public resources available to us are utilised efficiently and provide benefits to the average Gambian,” he said.
He added that achieving value for money from public resources would enable citizens to experience greater benefits from government investments and contribute to poverty reduction. The visit marked an important step towards strengthening institutional cooperation between Uganda and The Gambia, while positioning Makerere University and its PIM Centre of Excellence as a potential partner in building public-sector capacity beyond Uganda.
Business & Management
Makerere University Inaugural Conference on Noonomy Paves way for Centre of Excellence in Africa
Makerere University on 20th August 2026, hosted the historic inaugural conference on the Theory of Noonomy, bringing together scholars, policymakers, international partners and students to explore a bold new paradigm for addressing modernity’s deepest crises. Organised by the School of Economics, College of Business and Management Sciences (CoBAMS) in collaboration with the S.Y. Witte Institute for New Industrial Development, St. Petersburg Polytechnic University, Russia and supported by the Makerere University Research and Innovations Fund (Mak-RIF), the conference was held under the theme “The Theory of Noonomy and Its Role in Resolving Modernity Issues: Pathways to Sustainable Social and Economic Transformation.”
The event held in the Senior Common Room, Main Building underscored Makerere’s strategic commitment to thought leadership in Africa’s transformation, positioning the University as a continental hub for alternative development thinking.
Bold Thinking Amid Global Crises
Representing Vice Chancellor Prof. Barnabas Nawangwe, the Deputy Vice Chancellor in charge of Academic Affairs (DVCAA), Prof. Sarah Ssali described the gathering as both timely and historic.
“Across the globe, we continue to witness systemic crises rooted in market fundamentalism, unchecked resource depletion, and the ideology of growth for the sake of growth. These contradictions are not abstract, but they manifest in climate change, widening inequality, and the erosion of social cohesion” Prof. Ssali stated.
On this note, she lauded the Theory of Noonomy, developed by Prof. Sergey Bodrunov, as a transformative lens. She noted that Prof. Sergey Bodrunov’s Theory of Noonomy that prioritizes reason, humanistic values and solidarism, offers a sustainable path forward in the midst of global crises driven by market fundamentalism, resource depletion and endless growth, exacerbated by climate change, inequality, and social erosion. The Theory envisions a shift to a New Industrial Society of the Second Generation (NIS.2) where knowledge, technology, and human potential drive progress.
“Hosting this conference is not accidental,” Prof. Ssali affirmed, adding that it “Reflects our commitment to shaping debates that matter for Africa’s future.” She outlined the conference’s five core objectives: to introduce and contextualise Noonomy within Africa’s socio-economic realities; to explore solutions to systemic challenges such as inequality, resource scarcity and climate change; to identify pathways for integrating Noonomy principles into policy, education and institutional frameworks; to foster collaboration among scholars, policymakers and practitioners; and to lay the groundwork for establishing a Noonomy Centre at the School of Economics, CoBAMS.
She added that once established, the Centre will serve as a hub for continental dialogue, research, and innovation, hence positioning Makerere and her partners to “transform the theory of Noonomy into a living agenda for Africa, that prioritizes knowledge, human potential, and sustainable transformation”.
Noonomy’s Emphasis of Knowledge as the Primary Productive Force
Prof. Sergey Bodrunov, Director of the S.Y. Witte Institute and author of the theory, addressed the conference virtually and underscored Noonomy’s relevance in an era of technological power that can either destroy or elevate humanity. He argued that neoliberal models have entrenched inequality and ecological crises, while the gradual removal of humans from direct material processes open a path to a non-economic mode of satisfying rational human needs.
Additionally, Prof. Nikolay Dmitriev, Director of the S.Y. Witte Institute expanded on the practical implications for Africa. He stressed that technological sovereignty must be pursued without repeating the dependency traps of earlier industrialisation. Cognitive technologies, he noted, can either subordinate humans to the technosphere or place technology in service of human potential. On the other hand, he noted that Africa’s rapid demographic growth and cultural diversity make it a critical laboratory for Noonomy’s application.
Panel Scrutinizes Noonomy under the lens of Ugandan Realities
Moderating the high-level panel, the Principal CoBAMS, Prof. Edward Bbaale, set the stage with a question on the Ugandan context: Can the country move from a technology-consuming economy to a knowledge-producing one while remaining human-centred and inclusive? He outlined three tests any technology adoption should pass under a Noonomy lens; productivity, human development, and inclusion.
“The first test is the productivity test. Does it improve what society can produce? The second test is the human development test. Does it expand skills, creativity, capabilities, and quality of life? And then number three, the inclusion test. Are its benefits widely spread, or does it deepen exclusion?” Prof. Bbale pondered, as he equally thought to interrogate how the theory aligns with Uganda’s tenfold growth strategy and National Development Plan IV.
Panellists included Prof. Robert Wamala-Director of Research, Innovations and Partnerships (DRIP), Makerere University, Dr. Robert Ngobi-Director Policy Research, National Planning Authority (NPA), Mr. Davis Vuningoma who represented Dr. Albert Musisi-Commissioner Macroeconomic Department, Ministry of Finance, Planning and Economic Development (MoFPED) and Prof. Nikolay D. Dmitriev. Discussions centred on mainstreaming knowledge as a productive force in national planning, financing long-term knowledge-intensive capabilities, and ensuring industrialisation expands rather than displaces human potential.
Prof. Wamala emphasised the need to Africanise the theory, “We should not simply import the concept… Our role should be to interrogate, Africanise and generate evidence on what a knowledge and intelligence-driven economy means in the African context.” He proposed an interdisciplinary research programme, curriculum transformation from knowledge transmission to intelligence development, and the creation of an African Noonomy network led by Makerere.
Dr. Ngobi in his submission noted that although the principles of Noonomy are already addressed by aspects of developing planning, he pointed to the need to address a series of “missing middles” attributed to: reliable and well-costed electricity supply to support hi-tech industries; infrastructure in form of roads, digital infrastructure; seamless interconnectivity in the form of mass rapid transport systems for people and goods; mass education systems; mass health systems that are not only sensitive to local diseases but also viable for medical tourism; as well as knowledge research and innovation informed by national priorities.
Addressing financing of national development priorities, Mr. Vuningoma emphasised the Government appreciation of the need to fund Science, Technology and Innovation (STI) as a pillar for economic transformation. As such he shared that over UGX 1 Trillion had been allocated to the STI sector to support innovations particularly in health.
Prof. Dmitriev on his part addressed the research topics that should become priorities for the first stage of cooperation between Makerere University and the World Association of Noonomy and the S.Y. Witte Institute of Noonomy and New Industrial Development.
Questions from the floor and online participants focused on inclusivity of youth and women, reconciliation of Artificial Intelligence (AI) with African cultural values and indigenous knowledge, and mechanisms to prevent elite capture of automated production. Panelists stressed that Noonomy’s emphasis on solidarity and human-centred development provides the ethical foundation for addressing these concerns through joint research.
Courtesy Call on the Vice Chancellor
Key on the agenda of the visiting delegation was a courtesy call on the Vice Chancellor, Prof. Barnabas Nawangwe. In his remarks, Prof. Nawangwe thanked Prof. Sergey D. Bodrunov, author of the Theory of Noonomy and Prof. Dmitriev for choosing Makerere out of all African Universities as partner in advancement of future collaborations and research. He added that setting up a Centre of Excellence in Noonomy at the School of Economics would bolster the University’s aspirations to become Africa’s thought leader in knowledge generation for societal transformation and development.
Transitioning from Dialogue to Institutional Action
In his closing remarks, Dean of the School of Economics, Prof. Ibrahim Mike Okumu described the conference as the start of a sustained institutional relationship rather than a one-off event. He committed the School to developing a concrete research agenda with named outputs and timelines, including joint studies on automation and labour markets in African economies, doctoral exchanges, and empirical testing of Noonomy claims against Ugandan and East African data.
“Let us treat Noonomy as a diagnostic, not a blueprint,” Prof. Okumu urged. “Its greatest value to us is not a policy program awaiting adoption, but a lens sharpening the questions our own planners must answer directly. How do we build human and creative capacity alongside industrial capacity rather than after it? How does this school develop a research agenda that studies Uganda’s own transition rather than import a finished framework wholesale?” he pondered.
He announced Makerere’s forthcoming participation in the World Association of Noonomy Congress in Italy and reiterated the University’s determination to establish the proposed Noonomy Centre as a hub for continental dialogue, research and innovation.
The conference concluded with exchanges of gifts, group photographs and expressions of gratitude to partners including the Government of Uganda through Mak-RIF, the Russian Embassy, and the S.Y. Witte Institute.
Business & Management
Makerere University launches two taught PhD Programmes in Management, Accounting and Finance
“New doctoral students urged to pursue research that delivers solutions to Uganda’s socio-economic challenges.”
Makerere University has launched two new taught Doctor of Philosophy (PhD) programmes namely: The PhD in Management (by coursework) and the PhD in Accounting and Finance (by coursework).
The programmes, launched on 4th August 2026, under the School of Business at the College of Business and Management Sciences (CoBAMS), are among the first taught PhD programmes in the two disciplines in Uganda.
The launch was presided over by Makerere University Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, during a three-day orientation programme for the inaugural PhD students running from 4th to 6th August 2026.
Prof. Ssali challenged the new scholars to pursue evidence-based research addressing pressing challenges facing Uganda and the wider world.
“Choosing to pursue a PhD is not an ordinary decision. It is a commitment to becoming part of an institution with a rich history of research, innovation and knowledge creation,” Prof. Ssali said.
She told the students that the purpose of doctoral training should go beyond acquiring academic qualifications, urging them to focus on solving real-world problems.
“A PhD should prepare you to solve problems. You should ask yourselves: ‘What problem am I trying to solve?’ Research should not simply produce another thesis that sits on a shelf in the library. It should generate knowledge, products, services, policies and innovations that improve people’s lives,” she said.
Prof. Ssali explained that research outputs should not only be physical products, but could also include frameworks, management systems, policies and models that transform society.
“For those in the service disciplines, your product could be a framework, a model, a policy, a management system or a new way of delivering services that changes how society functions. That is why we do research,” she said.
She urged the scholars to remain committed throughout their doctoral journey, noting that persistence and discipline are critical to completing a PhD.
“A PhD requires commitment. It requires discipline. It requires sacrifice. Success in a PhD is determined by persistence,” Prof. Ssali said.
She encouraged students to embrace critical thinking and challenge existing ideas through evidence-based inquiry.
Prof. Ssali implored the scholars to focus their research on areas that can contribute to economic transformation, including agriculture, manufacturing, taxation, supply chains, governance, finance, climate change and technology.
“Uganda faces many challenges, but every challenge is also an opportunity for research. Research should not stop at identifying problems. It should propose practical, implementable solutions,” she said.
Makerere positions graduate training at centre of research agenda
The Principal of CoBAMS, Prof. Edward Bbaale, described the launch of the programmes as a major milestone in Makerere University’s agenda to strengthen its position as a research-intensive institution.
Prof. Bbaale said the PhD programmes represent a strategic investment in developing researchers, innovators and academic leaders.
“Today’s occasion is very significant because it marks the launch of the taught Doctor of Philosophy in Management and the Doctor of Philosophy in Accounting and Finance programmes,” he said.
“These are among the first taught PhD programmes in these disciplines in Uganda, and we are very proud of this achievement.”
He commended the School of Business leadership and faculty for developing the programmes, acknowledging that establishing doctoral programmes requires commitment, teamwork and dedication to academic excellence.
He observed that the programmes align with Makerere’s strategic goal of becoming a research-led university.
“Graduate training must be at the centre of that transformation. Events like this one—the admission and orientation of PhD students—are exactly the kinds of activities that define a research-intensive university,” he said.
Prof. Bbaale encouraged the first cohort students to publish their research in reputable journals and complete their studies within the required period.
“Complete your coursework successfully. Progress through your research diligently. Graduate within the required period. Publish your work in reputable, high-impact journals. Your success will create a strong foundation upon which future cohorts will build,” Prof. Bbaale said.
He guided that doctoral research should provide evidence to guide national decision-making.
“There is a great demand for evidence-based policy advice in Uganda. Government needs researchers who can provide evidence, not simply opinions,” he said. “Your research should generate evidence upon which decisions can be made.”
School of Business welcomes pioneer cohort
The Dean of the School of Business, Associate Professor Godfrey Akileng, welcomed the students and described the programmes as part of the school’s continued growth in graduate training.
“We are delighted to welcome you as you begin this journey with us. We hope that you will stay with us throughout the next three years of your PhD studies,” Assoc. Prof. Akileng said.
He asserted that the doctoral journey would be demanding, but assured students of support from the faculty.
“The programme is demanding, and the research component will be very intensive. Our hope is that we shall walk this journey together and, three years from now, celebrate your graduation as one cohort,” he said.
He highlighted that a PhD is about knowledge creation rather than simply earning a title.
“A PhD is not about being called ‘Doctor.’ It is about becoming a contributor to knowledge. It is about transforming yourself. It is about solving problems. It is about making an impact,” Assoc. Prof. Akileng said.
Assoc. Prof. Akileng advised students to build strong relationships with supervisors while taking responsibility for their own research.
Building research networks
Dr Caroline Twongirwe, Assistant Lecturer in the Department of Accounting and Finance at CoBAMS, urged the new scholars to begin developing research networks early in their PhD journey.
She cautioned students against focusing only on coursework while postponing research preparation.
“If we spend a whole year focusing only on coursework and then begin thinking about research later, the target of completing within three years may not be achievable,” Dr Twongirwe said.
She said collaboration is essential for producing quality research and accessing international opportunities.
“For us to produce quality research, generate new ideas and contribute to knowledge, we need collaboration,” she said.
Dr Twongirwe explained that research networks can provide mentorship, expertise, funding opportunities and greater visibility for scholars.
“Your networking must be intentional. Identify people with whom you share common interests and who can help you move forward in your research journey,” she said.
She encouraged students to attend seminars, conferences and engage with researchers in their areas of interest.
“Research networks introduce you to mentorship and guidance, access to expertise, collaboration opportunities, funding opportunities and greater visibility for your research,” she said.
Academic regulations and research tracking
Dr Alfred Tingo from Makerere University’s Directorate of Graduate Training urged the new PhD students to understand university regulations, complete registration requirements and remain engaged throughout their studies. He called upon the students to maintain communication with their supervisors and university structures.
Dr Tingo highlighted the importance of the university’s Research Information Management System (RIMS) in monitoring students’ progress.
“RIMS helps us track your research progress. Your research topic, proposal development, approvals and supervisor interactions are captured in the system,” he said.
The new PhD programmes are expected to strengthen Makerere University’s contribution to research, innovation and policy development by producing scholars capable of generating knowledge for Uganda, Africa and the global community.
-
General1 week agoUndergraduate Admission Lists 2026/2027
-
General2 weeks ago72 Makerere University Students Admitted to 2026 Millennium Fellowship
-
Computing & IS2 weeks agoCall For Applications: Mak-AI PhD Fellowship
-
General2 weeks agoMakerere jumps 200 positions in latest global rankings
-
Business & Management1 week agoMakerere University Inaugural Conference on Noonomy Paves way for Centre of Excellence in Africa