Business & Management
Participants advocate for Climate-Integrated Economic Decision-Making at First African Symposium on Natural Capital Accounting
Published
6 months agoon

Makerere University successfully hosted the First African Symposium on Natural Capital Accounting and Climate-Sensitive Macroeconomic Modelling (12th to 13th February 2026), a landmark continental gathering aimed at strengthening Africa’s ability to integrate climate and natural capital issues into economic and fiscal decision-making.
Held under the theme “Climate-Sensitive Macroeconomics: Rethinking Growth in Africa’s Natural Resource”, the two-day symposium attracted over 250 participants from Africa, Europe and beyond, consisting of policymakers, researchers, universities, think tanks, development partners, and media representatives, who collectively called for deeper research–policy collaboration to drive sustainable development.
Consensus on Natural Capital Accounting and Climate-Sensitive Macroeconomic Modelling
Following the two-day proceedings, including a compelling keynote address, expert opinions, technical and research-informed presentations, panel discussions, the participants agreed to undertake the following strategic approaches.
- Strengthening Macroeconomic Analysis and Uptake
- Building National Eco-Systems
- Promoting Peer Learning and Regional Exchange
- Building an Africa knowledge and learning community
Africa-Centred strategies
The participants committed to the development of Africa knowledge and learning community on Climate-Sensitive Macroeconomics, as part of the Pan-African Finance Ministers’ Forum on Climate Action (PAFCA), with the following objectives:
- Producing regionally anchored analysis that supports the economic case for climate action in Africa
- Strengthening the relevance of economic analysis to support Governments in Africa to deal with trade-offs and take informed policy decisions
- Ensuring sustainability and local ownership by systematically strengthening the capacity of national universities, research centres, and training institutions
- Fostering peer-learning, maximizing synergies, and avoiding duplication of research and training initiatives
Emphasizing the role of regional centres of excellence
The participants stressed the role of regional centres of excellence, such as the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling (CEACM) at Makerere University, in convening dialogue, and supporting collaboration among institutions.
Highlights
The symposium was officially opened on 12th February 2026 by the Minister of State for Finance (General Duties), Hon. Henry Musasizi. The Minister of State for Environment, Hon. Beatrice Anywar Atim, also participated in the Symposium.

The Symposium was intended to strengthen Africa’s analytical and institutional capacity to ensure that climate risks and natural resource depletion are reflected in national planning, macroeconomic modelling, and fiscal frameworks.
Call for Research that Impacts Policy
Addressing the participants at the symposium, Prof. Edward Bbaale, Principal, Makerere University College of Business and Management Sciences (CoBAMS), emphasised the need for African institutions to build stronger coalitions and improve knowledge sharing to avoid duplication of research efforts.

“We are doing research, and we developed a Natural Capital Accounting model and developed a short course. We are involved in the NCA processes and we are engaging the relevant MDAs. We are writing fiscal policy briefs on existing NCA accounts,” Prof. Bbaale said.
He added that Makerere University is already expanding its academic offerings to respond to Africa’s emerging climate governance needs. “We are looking at integrating natural capital and climate into modelling and many other short courses already part of our menu. We partner but Africa is looking at its uniqueness,” he said.
Prof. Bbaale stressed the need for collaboration across institutions. “We want to partner with other ministries, universities and other think tanks and have a feedback relationship,” he stated.

Climate Policy is a Governance Challenge
Prof. Bbaale urged participants to look beyond technical modelling and address governance barriers that prevent evidence-based decision-making.
“Bridging the gap between climate science and policy is not merely a technical task — it is a governance challenge that requires structured collaboration between researchers and decision-makers,” he said.
Finance Ministry integrating Climate into Macroeconomic Models

Dr Albert Musisi, Commissioner for Macroeconomic Policy at the Ministry of Finance, Planning and Economic Development (MoFPED) said Uganda is increasingly prioritising climate-sensitive planning due to its vulnerability to climate shocks.
“There is a need to build capacity in climate-sensitive macroeconomic modelling. We are integrating climate change into macro models,” Dr. Musisi said.
He noted that Uganda’s development planning must incorporate both climate mitigation and adaptation strategies. “We need to combine mitigation and adaptation in our work,” he added.
Dr. Musisi explained that climate change has already affected Uganda’s economic growth, prompting government to improve its modelling systems. “Our growth was being affected by climate change which wasn’t being captured and we decided to capture this into our integrated model. We are extending the social accounting matrix to fit in our IMEM,” he said.
He said government is still relying on external models and requires collaboration with academic institutions to strengthen local capacity.
“We have not yet been able to conclude and that’s why we need to collaborate with Makerere University, and other partners. We are using external models. We need a framework to bring in all issues to do with mitigation and adaptation,” Dr. Musisi said.
He added that Uganda is now factoring climate financing into its planning frameworks. “Uganda has higher vulnerability to climate change shocks and lower scores for readiness to respond compared to peer states in East Africa. This is why the Ministry of Finance, Planning and Economic Development (MoFPED) is incorporating climate change into its macroeconomic planning,” Dr. Musisi said.
“What we are now doing is incorporating climate financing in all our plans,” he added.
Experts Urge Climate Research that Shapes Investment Decisions
Associate Professor and Dean at Makerere University School of Economics, Dr. Ibrahim Mike Okumu, said climate research must go beyond theory and directly influence investment and policy.

“The question before us is not whether climate-research matters, but how it shapes policy and investment decisions,” Assoc. Prof. Okumu said.
He pointed to Uganda’s progress in climate budgeting while acknowledging that natural capital accounting is still evolving.
“In Uganda, initiatives such as climate budgeting signal progress. Natural Capital Accounting remains a work in progress. Climate change demands research in local capacity. Advancing macroeconomic modelling is essential for sustainability,” he said.
Development partners applaud Makerere’s Leadership
Amrei Horstbrink, a representative from the United Nations Partnership for Action on Green Economy (PAGE), applauded Makerere University and its partners for pushing the climate governance agenda forward.
She emphasised the need for universities to shift from academic outputs to measurable policy influence.

Training Gaps in Economics Curricula Highlighted
Meanwhile, Prof. Heinrich Bohlmann from the University of Pretoria warned that climate and macroeconomic modelling remains underrepresented in economics education across the continent.
“Economy-wide system thinking is key when evaluating climate shocks and policy responses, however, these remain largely absent from most economics curriculums. More training for both teachers and students are required,” he said.
Way Forward
The symposium concluded with renewed calls for African governments and academic institutions to build stronger institutional frameworks, invest in climate modelling skills, and develop locally-driven research capable of shaping fiscal policy.
Participants also urged universities to introduce more short courses in climate change and macroeconomic modelling, and to strengthen collaboration with ministries and development partners to ensure research translates into tangible policy reforms.

The symposium was held under the banner #AfricaNCASymposium26, with organisers describing it as a major step toward aligning Africa’s economic growth ambitions with environmental sustainability.
Organizers
The two-day Symposium was held under the auspices of Makerere University (Mak), the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling (CEACM), in partnership with the Ministry of Finance, Planning and Economic Development (MoFPED) in Uganda, Environment for Development (EfD) Initiative, Mak College of Business and Management Sciences (CoBAMS), the Coalition of Finance Ministers for Climate Action (CFMCA), the Partnership for Action on Green Economy (PAGE), and the Global Green Growth Institute (GGGI).
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Business & Management
Makerere University launches two taught PhD Programmes in Management, Accounting and Finance
Published
6 days agoon
August 5, 2026
“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.
Business & Management
CoBAMS 2026 Orientation kicks off: Mak DVC Academic Affairs underscores excellence, networks, integrity and values
Published
1 week agoon
August 4, 2026
By Ritah Namisango and Monica Meeme
Makerere University College of Business and Management Sciences (CoBAMS) kicked off its four-day orientation programme (4th to 7th August 2026) aimed at equipping first-year students with the knowledge required to smoothly transition into university life.
The programme focuses on familiarizing students with the College’s teaching and learning environment, the academic calendar, university policies and procedures, library and ICT services, scholarship opportunities, leadership platforms and student support services.
Organized by the Office of the Principal, in collaboration with the College Registrar, College Communication Office, and the Student leaders, the first day of the CoBAMS Orientation was a great convening with over 800 students who filled Makerere University Central Teaching Facility to the brim.
Day one (4th August 2026) presented a golden opportunity to the first year students to interact with Prof. Sarah Ssali, the Deputy Vice Chancellor (Academic Affairs) at Makerere University. Introduced to the audience by Prof. Edward Bbaale-College Principal, the Deputy Vice Chancellor (Academic Affairs) delivered a powerful speech filled with words of wisdom, inspiration, and guidance to the students.
The students listened to presentations from the following university officials: Prof. Edward Bbaale-College Principal, Associate Professor James Wokadala-Deputy Principal, Ms Stella Butamanya-Acting College Registrar, Ms Sylvia Martha Munafu-College Librarian, Ms Catherine Tumusiime-IT Specialist, Ms. Evelyn Kharono-Counselling Psychologist at the Counselling and Guidance Centre, Mr. Peter Mubiru-College Bursar, Mr. Blaise Turyasingura from the Makerere University Revenue Office, Ms. Ritah Namisango-Communication Office, Ms Claire Nakaseeta, and Ms Moreen Orikiriza.
Blended with the peer to peer engagement from the student leaders, the first day of the CoBAMS Orientation featured presentations on Guidance and Counselling, Life at Campus, Understanding the academic calendar, Makerere University Tuition Policy, Meeting financial obligations within the stipulated deadlines, Information Technology (IT) Services, and Library Resources.
CoBAMS Reaffirms Commitment to Student Success

Welcoming the first-year students, the Principal of the College of Business and Management Sciences (CoBAMS), Prof. Edward Bbaale, highlighted the College’s commitment to providing students with a supportive and enriching learning environment through its three schools namely the School of Economics, the School of Business, and the School of Statistics and Planning.
“The College’s support extends beyond academics to include mentorship, counselling, and other student support services aimed at promoting holistic growth and success,” he emphasized.
The Principal encouraged the new students to take full advantage of these opportunities as they transition into university life. He affirmed the College’s commitment to equipping students with the knowledge, skills, and support necessary for academic achievement, personal development, and future professional success.
Students urged to pursue Excellence and Integrity

The Deputy Vice Chancellor (Academic Affairs), Prof. Sarah Ssali congratulated the first-year students upon joining Makerere University, and encouraged them to embrace the transformative journey of university education.
Prof. Ssali emphasized that students are the University’s most important stakeholders, noting that every academic programme, service, and institutional activity is designed to support their success.
“Recognize your value within the University community and actively participate in orientation activities and academic programmes, develop into independent thinkers, innovators, and future leaders capable of addressing national and global challenges,” she stated.
Highlighting the significance of business and management education, Prof. Ssali noted that the disciplines equip learners with the knowledge and skills to understand economic systems, create value, lead organizations, and contribute to sustainable development.
The Deputy Vice Chancellor (Academic Affairs) reminded students that university life demands responsibility, discipline, and personal accountability. She urged them to prioritize attending lectures, utilizing library resources, participating in discussions, and making productive use of the opportunities available at the University.
Prof. Ssali called upon the students to appreciate the sacrifices made by parents, guardians, taxpayers, and sponsors who have invested in their education by using their time and resources wisely. She advised students to uphold integrity, avoid academic misconduct, and strive to build a positive legacy throughout their time at Makerere University.
She emphasized the importance of making informed personal decisions, maintaining strong professional values, and cultivating networks that would support both their academic and career aspirations. She reaffirmed her commitment to supporting students throughout their academic journey and challenged them to pursue excellence, leadership, and innovation.
University life, Academic Excellence and Discipline

The CoBAMS Deputy Principal, Associate Professor James Wokadala, encouraged the students to embrace university life as an opportunity for academic excellence, personal growth, leadership development, and professional preparation.
He emphasized that university education extends beyond obtaining a degree, urging students to remain committed to learning, make productive use of their time, and actively participate in academic and co-curricular activities.
To attain academic excellence, the Deputy Principal advised students to complete their online course registration promptly, familiarize themselves with the university environment and attend lectures regularly. “Maintaining academic integrity by upholding high standards of discipline, professionalism, and respect for university staff and property,” he stressed.
He reaffirmed the College’s commitment to supporting students throughout their academic journey, assuring them that the doors of the College administration remain open for guidance and assistance.
Prioritizing Mental Health

Commencing the presentation on “Guidance and Counselling: Life at Campus,” Ms. Evelyn Kharono, highlighted the major adjustments that first-year students face, including managing their own time, finances, academic workload, and social life.
“Develop discipline, plan your schedules carefully, and take responsibility for your academic progress, noting that university life requires greater independence than secondary school,” she advised.
Underscoring the importance of mental health, Ms. Kharono encouraged students to maintain a healthy lifestyle by eating balanced meals, exercising regularly, and managing the use of smartphones and social media to avoid distractions that could affect their academic performance.
Guidelines on Tuition Payment Procedures

Presenting the “Makerere University Tuition Policy,” the College Bursar, Mr. Peter Mubiru, emphasized the importance of using the official payment systems through the University portal and generating Payment Registration Numbers (PRNs) before making any payments.
Mr. Mubiru encouraged students to pay their tuition within the stipulated time to avoid inconveniences during the examination period.
Student Enrolment and Registration

Building on to the presentation on “Makerere University Tuition Policy,” Mr. Blaise Turyasingura from the Makerere University Revenue Office underscored the importance of understanding Makerere University’s enrolment, registration, and fee payment procedures, emphasizing that timely compliance with these processes is essential for a successful academic journey.
He explained that enrolment confirms a student’s intention to study at the University, while registration enables students to select and officially register the course units they will undertake during the semester.
He urged students to use the portal to generate Payment Registration Numbers (PRNs) before making any payments.
Mr. Turyasingura advised students to be vigilant against fraudulent investment schemes and unrealistic business opportunities that promise unusually high financial returns, urging them to exercise sound financial judgment and safeguard their education funds.
Tapping into Orientation activities

Ms. Stella Butamanya, Registrar of the School of Statistics and Planning under CoBAMS, implored the students to participate in the various orientation activities lined up during the course of the week.
She reminded students to work closely with their elected leaders, the Mentor Support Team (MST), and the orientation staff stationed at various tables, as they are available to offer assistance and ensure a smooth transition into university life.
Utilization of Library Resources

Briefing students on the College Library Resources, Ms. Sylvia Martha Munafu called upon students to utilize the library throughout their university education for coursework, research, revision, and independent learning.
“Make full use of both the physical and digital library resources, including books, journals, databases, and other online learning materials,” she advised.
Access to Digital Services

Ms. Catherine Tumusiime from the I.T. Department encouraged the first year students to utilize the ICT resources on the official YouTube channel @DICTSMakerere.
Key highlight
On Day Two (5thAugust 2026), the orientation programme will feature presentations on students’ responsibilities at Makerere University, campus security, health and wellness, digital services, the Gender Mainstreaming Programme, and other student support initiatives.
Business & Management
CoBAMS Annual Report 2025
Published
3 weeks agoon
July 22, 2026By
Mak Editor
The year 2025 marked a significant period of progress and consolidation for the College of Business and Management Sciences (CoBAMS), Makerere University. Through the collective commitment of staff, students, partners, and stakeholders, the College achieved important milestones in teaching and learning, research and innovation, community engagement, and policy influence.
Appreciation for Collective Effort
I sincerely thank staff across academic, research, administrative, and support units for their dedication and professionalism in advancing the College’s mission. I also extend appreciation to the College leadership, students, collaborators, partners, and friends of CoBAMS globally for their valuable contributions during the year under review.
Excellence in Teaching and Research
The College continued to demonstrate excellence in teaching and research. I congratulate staff who received Vice Chancellor’s Research Excellence Awards and Best Teacher Awards across various categories. These achievements reflect both individual distinction and institutional pride. I encourage continued momentum in this regard, confident that more staff will be recognised in future.
Research, Publications, and Scholarly Visibility
Research and scholarly output remained central to the College’s mandate. I commend staff who published in peer-reviewed journals and contributed book chapters, strengthening the College’s academic visibility and impact. I also recognise colleagues who secured competitive research grants at university, national, regional, and international levels, supported by the Makerere University Research and Innovation Fund (MakRIF) and partners including the Gates Foundation, UN-PAGE, GGGI, the World Bank, and Erasmus+. These achievements reflect the growing global confidence in CoBAMS scholarship.
Partnerships and Academic Programme Development
The College strengthened partnerships and academic relevance through new and advanced Memoranda of Understanding with local and international partners. These collaborations support teaching, research, and policy engagement. Schools and Departments also developed and reviewed academic programmes to align with evolving economic, social, and community needs, ensuring continued responsiveness and relevance.
Policy Engagement and Societal Impact
Policy engagement remained a defining feature of the College. Staff actively contributed to policy dialogues through workshops, conferences, and seminars as well as to Publications including “Advancing Population and Development in Uganda and Beyond” in honour of Dr. Jotham Musinguzi.
Research Development and CoBAMS Working Paper Series
I congratulate the faculty whose work featured in the CoBAMS Working Paper Series, which serves as a pipeline for peer-reviewed publications and future academic journals. During FY 2025/26, the College also disbursed internal research grants, and I encourage all staff to aim for at least one research output within the financial year.
Staff Welfare, Cohesion, and Shared Prosperity
The College invested in staff welfare and cohesion through initiatives such as the CoBAMS Physical Fitness Programme and the establishment of the Mak-CoBAMS SACCO. I commend the Deputy Principal, Associate Professor James Wokadala, and the Interim Committee for their leadership and encourage full staff participation.
Infrastructure Development and Strategic Investment
Government allocated resources to commence the CoBAMS Infrastructure Expansion Project, with the University Council approving two strategically located land parcels for implementation. The University has begun procurement for a design consultant, and the College will remain engaged to ensure the infrastructure supports teaching, research, innovation, and policy engagement.
Solidarity and Shared Humanity
While celebrating achievements, we also recognise life’s challenges. I congratulate colleagues who achieved success during the year and extend heartfelt condolences to those who lost loved ones in 2025. May they find comfort, strength, and renewed hope.
Edward Bbaale, PhD
Professor & Principal
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