General
Mak Cooperative Society holds AGM: Growth, Transparency and Member Welfare Take Centre Stage
“This is a perfectly managed Cooperative Society,” remarked CPA David Ssenoga, amidst applause from Members of the Makerere University Multi-Purpose Cooperative Society (MUMCS).
CPA Ssenoga made the remarks on 4th March 2026 as he presented the Auditor’s report from SDS and Company Certified Public Accountants at the MUMCS Annual General Meeting (AGM).
The Auditor’s report for the year ended 31st December 2025 highlighted adherence to the best corporate governance practices, confirmed proper allocation of funds, value for money, and steady progress.
“The Cooperative Society was found to be in excellent standing, with operations in compliance with International Financial Reporting Standards for SMEs, the Cooperative Societies Act, and relevant Ugandan regulations. The operations are efficient and transparent,” he reported.
Mandate of MUMCS
Chairing the AGM, the Vice Chairperson, Dr. Muhammad Kiggundu-Musoke, underscored that the MUMCS exists to promote the welfare of members. In pursuit of this mandate, MUMCS provides access to affordable credit at interest rates that are significantly lower than those offered by other financial institutions. Such support, he noted, empowers members to strengthen their financial stability, invest in personal and professional goals, and ultimately enhance their overall well-being.
Steady progress
Highlighting MUMCS’ steady progress, Dr. Kiggundu-Musoke commended members for the tremendous growth recorded over time. He noted that the cooperative society had grown from handling a few hundreds of thousands of shillings in its early years to managing a portfolio now standing at approximately UGX 3.25 billion, a milestone he described as a reflection of collective effort, prudent management, and sustained member confidence.
He encouraged members to actively promote and popularise the cooperative within their respective departments. He proposed a structured approach of engaging Heads of Department to sensitize staff on the MUMCS’ services and benefits.
AGM highlights
The hybrid AGM, with physical participants assembled in the Main Building Senior Common Room, and virtual participants who followed the proceedings via zoom, provided a platform to review performance, highlight operational successes and governance milestones, as well as, finding solutions to challenges.
Secretary’s report
Presenting the report, MUMCS’ Secretary, Prof. Winston Tumps Ireeta, highlighted the growth in membership to 160, including 27 new recruits – a testimony to the confidence in the quality of services provided.
Prof. Ireeta excited the members when he mentioned that the 2025 surplus of UGX 291 million was distributed to members, with administrative budgets executed as approved.
On the issue of financial discipline and meeting obligations, Prof. Ireeta notified the members that the Management Committee implemented strategies that ensured compliance. “Outstanding loan arrears were settled through deductions from dividends of the concerned members,” he stated.
The Secretary reported that as approved during the previous AGM, the Vetting Committee consisting of Prof. Helen Nambalirwa Nkabala (Chairperson), Prof. Lawrence Mugisha (Member) and Dr. Alex Okello (Member) had been constituted and has embarked on the tasks as per the terms of reference.
With reference to the Secretary’s report, the Members praised the MUMCS Management Committee headed by Prof. Barnabas Nawangwe, for ensuring the successful implementation of key decisions agreed upon during the previous AGM.
Treasurer’s report
The Treasurer, Prof. Juma Kasozi, provided members with a detailed overview of operations, liquidity, investments, and returns.
Emphasizing MUMCS’ commitment to transparency, Prof. Kasozi noted that the Management Committee ensures that the balance sheets, profit and loss statements, and trial balances are shared monthly with members, which enables them to monitor performance throughout the year.
Prof. Kasozi explained that the Cooperative Society maintains strong liquidity, with approximately UGX 1.6 billion invested with fund managers and insurance companies. These liquid investments he said, provide a solid foundation to support loans, withdrawals, and operational needs. He encouraged members to increase their savings and shareholdings, in order to strengthen MUMCS’s financial base and enhance lending capacity.
The Treasurer highlighted the Society’s loan products, including instant loans; which provide same-day disbursement and long-term term loans. He reported that in 2025, UGX 479 million was disbursed in instant loans, and UGX 913 million as long-term loans.
He informed the AGM that the major challenge faced during the year 2025, was premised on disruptions in payroll deductions. “Before this setback, payroll deductions generated over UGX 50 million per month. Due to temporary disruptions, the amount generated reduced to UGX 20 million,” he explained.
The Treasurer briefed the members that discussions with the payroll management team had been successful, and full deductions were expected to resume, a step that would restore the expected income stream of the Cooperative Society.
He re-assured members that despite challenges with payroll deductions, MUMCS remains financially stable, with strong liquidity, robust investments, sound loan recovery mechanisms, and a commitment to member welfare.
He encouraged members to recruit colleagues, increase shareholding, and actively participate in strengthening the Cooperative Society’s growth and impact.
Members applaud the Management Committee
Impressed by the reports presented by the Secretary and Treasurer, the Members praised the MUMCS Management Committee headed by Prof. Barnabas Nawangwe, for the successful implementation of key decisions agreed upon during the previous AGM.
Presentation from the Welfare Committee
On behalf of the Welfare Committee, Ms. Ritah Namisango, commended the Management Committee for effectively implementing the Society’s Welfare Policy. Ms. Namisango noted that the policy stipulates the contribution to weddings, loss of a member, and/or when a member loses a parent, spouse and a biological child. She encouraged the members to read the Welfare Policy in order to tap into the benefits that accrue to them.
“We invite all members to read the Welfare Policy and inform the Management Committee early enough whenever a situation arises. I am glad that, because of transparency and communication through the WhatsApp group, most of you have been notifying the Executive Committee promptly. Most of the Members who have received contributions from MUMCS during such situations, have acknowledged receipt, and gone an extra mile, to send messages of gratitude via MUMCS’ WhatsApp group,” she said.
She welcomed the AGM’s approval of an additional UGX 2.5 million allocation to the Welfare Fund, to boost the Cooperative Society’s ability to extend support as well as standing in solidarity with the Members.
The Welfare Committee consists of Ms. Ritah Namisango, Dr. Oscar Mugula and Mr. Michael Kasusse.
Supervisory Committee report
The Chairperson, Prof. Fredrick Jones Muyodi, congratulated the Management Committee and the Members, upon the positive financial performance of MUMCS with a gross surplus of UGX 351,533,935/=, and a net surplus of UGX 49,510,181/= after deduction of all expenses.
Concerned that some members have faced challenges with payroll deductions, the Supervisory committee welcomed the progress reported by the Secretary toward resolving the issue.
He stated that the Committee reviewed the financial proposals presented by the management committee and endorsed the recommended dividend payment of UGX 38,630,000 to shareholders, noting that dividends cannot exceed 10 percent under the law.
In addition, the Committee supported payments to service providers, the purchase of a second laptop to enhance data security, the use of cloud and external storage for safeguarding records, the proposed welfare and AGM budgets, and the allocation of 65% of the gross surplus as return on savings.
The Supervisory Committee consists of Prof. Fredrick Jones Muyodi (Chairperson), Prof. Edgar Nabutanyi (Member) and Dr. Jamidah Nakato (Member).
Closing remarks
Closing the AGM, Dr. Kiggundu-Musoke thanked members for their active participation and challenged them to actively support the growth of the cooperative society. He emphasized that membership growth would not only strengthen the Makerere University Multi-Purpose Cooperative Society’s financial standing, but also enhance dividend returns for all members.
Makerere University staff have been urged to embrace servant leadership, integrity and compassion as they prepare to welcome students for the 2026/2027 Academic Year.
The call was made during the Makerere University Staff Prayer Breakfast held on 31st July 2026 at St. Francis Students Centre Upper Hall under the theme “Faithful Stewards: A Servant Heart with Integrity and Wisdom,” drawn from Colossians 3:23–24 and Mark 10:35–45.
The prayer breakfast brought together members of Council, University Management, academic, and administrative staff to dedicate the new academic year to God while reflecting on their responsibility of serving students with excellence, humility and integrity.
A Call to Seek God’s Wisdom
Host Rev. Dr. Lydia Nsaale Kitayimbwa reminded staff that no amount of professional experience or academic expertise can replace God’s guidance.
She noted that the University’s mission can only be fulfilled when staff continually seek God’s wisdom in serving students and one another.
“There is no amount of experience or expertise that can replace God’s wisdom.”
Rev. Dr. Kitayimbwa observed that students remain the reason universities exist and challenged staff to approach their work as a calling rather than merely employment.
“Without students, there is no university,” she said, encouraging members of staff to remain united, avoid unhealthy competition and trust God as they begin another academic year.
She further urged staff to become faithful stewards who work together in harmony, which she summed up as, “United we stand; divided we fall.”
A Community, Not Just a Centre of Research
In her remarks, Dean of Students Dr. Winnie Kabumbuli welcomed the Council Chairperson, the Deputy Vice Chancellor (Academic Affairs) and Members of Management to the breakfast, and reminded staff that a university’s value cannot be measured by research and innovation alone.
She described Makerere as a community held together by the spiritual as well as academic wellbeing of its people, and called on staff to renew their commitment to one another as much as to the institution they serve.
Draw Inspiration From Stewardship
Representing the Vice Chancellor, Prof. Barnabas Nawangwe, Deputy Vice Chancellor (Academic Affairs) Prof. Sarah Ssali told staff that this year’s breakfast carried special significance.
“This is the first prayer breakfast we are having ever since we launched our strategic plan,” she said, referring to the University’s new Strategic Plan, launched on 2nd July 2026.
She encouraged staff to hold on to the morning’s reflections as a guide for implementing the plan over the next five years, describing Makerere as an institution many families choose above all others for the vision and training it offers their children. She urged staff to see themselves as stewards of that trust rather than simply employees carrying out a job.
Compassion and Discipline Must Go Together
Delivering her remarks, Makerere University Council Chairperson Dr. Lorna Magara challenged staff to strike a balance between compassion and discipline when dealing with students.
She observed that many students face different personal and academic challenges, making encouragement and timely support essential throughout their university journey.
“A word of encouragement can restore hope and prevent costly mistakes,” she noted.
Dr. Lorna encouraged lecturers and administrators to respond promptly to students’ concerns, explaining that delays, insensitive decisions and abuse of authority can discourage students and negatively affect their academic experience.
She reminded staff that students often remember how they were treated long after they have forgotten what was taught in class.
“Students may eventually forget what we teach them, but they will always remember how we treated them.”
She added that education goes beyond transferring knowledge.
“Education is more than knowledge. We communicate life, character and values.”
Quoting Mark 10, Dr. Lorna called upon staff to embrace servant leadership by exercising authority with humility, integrity and accountability.
She encouraged members of staff to ask themselves whether they would treat every student the same way ashey would treat their own child.
“We may not always have all the answers,” she said, “but we can communicate honestly, take responsibility and treat every student with dignity.”
She concluded by urging different colleges and administrative units to work together instead of operating in isolation, noting that unity strengthens the University community.
Referring to Galatians 6:2, she reminded staff to carry one another’s burdens and remain faithful stewards of the responsibility entrusted to them.
Servant Leadership Begins with Faithfulness
Delivering the keynote address, Dr. James Magara, husband to Dr. Lorna Magara, called on members of staff to embrace servant leadership grounded in humility, faithfulness and service to others.
Drawing from Mark 10:35–45, Dr. Magara reflected on the account in which James and John asked Jesus for positions of honour in His kingdom, prompting discontent among the other disciples. He observed that despite walking closely with Christ, the disciples continued to struggle with the desire for status and recognition. He noted that such competition remained evident even during the Last Supper, where concerns over positions and prominence persisted.
Dr. Magara said that Jesus responded to these human tendencies by redefining leadership through service rather than authority. He described Christ’s act of washing the disciples’ feet as the ultimate demonstration of servant leadership, explaining that genuine leaders are willing to undertake even the humblest responsibilities in service of others.
Referencing Philippians 2, he urged staff to emulate Christ’s humility and selflessness, contrasting it with the pride and self-exaltation illustrated in Isaiah 14. He emphasised that lasting influence and greatness are not measured by titles, positions or recognition, but by one’s willingness to serve faithfully and put the needs of others before personal ambition.
Drawing on his own leadership journey spanning several decades, Dr. Magara challenged leaders across the University to cultivate humility, integrity and a servant heart in the execution of their responsibilities. He cautioned that leadership driven by pride and personal ambition undermines both individual effectiveness and institutional progress, whereas servant leadership strengthens organisations and fosters lasting impact.
The prayer breakfast concluded with a call for unity and collective commitment as Makerere University prepares to begin a new academic year. Organisers noted that the reflections on stewardship, integrity and servant leadership would provide a strong foundation for the University community as it advances the implementation of the Makerere University Strategic Plan 2025–2030.
-
General3 days agoUndergraduate Admission Lists 2026/2027
-
General6 days agoAdmission Lists for Postgraduate Programmes 2026/27
-
General2 weeks agoGulu University Benchmarks Makerere University’s Management of Mature Age Entry Examinations
-
General1 week agoMakerere, Southwest Minzu University and NARO Forge Strategic Partnership to Advance Livestock Research and Innovation
-
General1 week agoMakerere’s Research Billions Offer MUST a Blueprint for Managing Grants