Business & Management
Uganda Launches Policy Briefs on Natural Capital Accounts to position Nature at the Centre of Economic Planning
Uganda has launched five policy briefs on Natural Capital Accounts aimed at integrating the value of the country’s forests, wetlands, water resources, land, energy systems and ecosystems into national economic planning and decision making.
The Policy Briefs, developed by the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling (CEACM) under the College of Business and Management Sciences, were launched on Wednesday 15th July 2026 at Makerere University.
The initiative brings together government, academia and development partners to promote climate-informed economic policies as Uganda pursues sustainable development and its economic transformation targets.
The five policy briefs address Uganda’s energy transition, declining wood stocks, natural capital integration into development planning, sustainable land use, and national water accounting amid climate change.
The five policy briefs include:
- Uganda’s Wood Stock on a Declining Pathway to Extinction: A Call for Policy Review and Action
- Uganda’s Energy System at a Crossroads: The Unsustainable Reliance on Biomass and the Need for Energy Transition
- Integrating Natural Capital into Development Planning in Uganda: Insights from the Ecosystem Service and Asset Accounts (1990-2015)
- Leveraging Land Natural Capital to Drive Uganda’s Sustainable and Inclusive Growth
- National Water Accounts Development: Tracking Uganda’s Progress amidst Climate Change.
Link to the Policy Briefs: https://bams.mak.ac.ug/policy-briefs/
Speaking at the Launch of the policy briefs, the Minister of State for Environment, Hon. Beatrice Atim Anywar who represented the Minister of Water and Environment, said natural capital accounting provides Uganda with a new approach to valuing its environmental resources.
“Today, we are launching a new way of seeing, planning and managing Uganda’s development,” Hon. Anywar said.
She noted that for years, Uganda’s economic progress has largely been measured through indicators such as Gross Domestic Product (GDP), which do not capture the decline or improvement of natural resources.
“But GDP does not tell us if our forests, water sources and wetlands are shrinking. It does not tell us if our forests can still hold our waters or whether our soils will still feed the next generation,” she said.
Hon. Anywar said Uganda’s natural capital, including forests, wetlands, water resources, biodiversity, minerals and fertile soils, supports livelihoods, tourism, energy generation and climate resilience. “This natural capital supports over 70 percent of our population and powers our hydropower. It feeds into tourism and buffers us against droughts and threatening floods,” she said.
She warned that degradation of these resources represents a loss of national wealth. “When natural capital is degraded, we are not just losing trees, wetlands, water or soils. We are losing wealth. We are losing jobs for our children and future generations,” she said.
The Minister said natural capital accounting allows Uganda to place nature on its economic balance sheet. “This is what natural capital accounting does. It puts nature on the balance sheet. I studied basic accounting, but I never imagined that natural resources could also be reflected on a balance sheet. Today, that is becoming a reality,” she said.
She challenged all stakeholders to ensure that every future development decision considers its impact on Uganda’s natural capital, stressing that informed choices today will secure sustainable prosperity for generations to come.
Hon. Anywar also called for recognition of the role communities play in protecting natural resources, saying traditional knowledge must complement modern science.
“Our ancestors protected the environment without maps, technology or scientific reports. They knew which areas were sacred, where water sources were protected and where forests should not be disturbed,” she said. “When communities understand that protecting a wetland or forest protects their own livelihoods, we will not need constant enforcement. People themselves will become protectors of nature,” she added.
Research Must Drive Policy Decisions
Delivering the opening remarks, the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe highlighted the event as a significant milestone in strengthening climate-sensitive economic planning.
He noted that the theme of the launch and dissemination workshop, “Advancing Climate-Informed Economic Policy for Sustainable Development in Africa,” aligns with the research-led agenda of Makerere University.
Prof. Nawangwe said the launch demonstrates the role of universities in generating evidence to support national development. “Today’s event demonstrates the power of collaboration between academia, government and development partners in generating knowledge that informs public policy and advances Uganda’s sustainable development agenda,” he said.
Prof. Nawangwe said the policy briefs provide evidence needed for integrating natural capital into national planning, budgeting and investment decisions. He said the University will continue strengthening research capacity to support Uganda and Africa.
Emphasizing the urgency of informed decision-making, he observed that Africa remains one of the regions most affected by climate change while experiencing rapid population growth, placing increasing pressure on natural resources. He stressed that research-driven policies are essential for achieving climate resilience and sustainable economic growth.
The Vice Chancellor commended the Government of Uganda, particularly the Ministry of Finance, Planning and Economic Development, on the country’s historic appointment as the first Co-Chair of the Coalition of Finance Ministers for Climate Action.
He recognised the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling (CEACM) for advancing interdisciplinary research and strengthening Uganda’s position as a regional leader in climate-sensitive macroeconomic modelling and evidence-informed policymaking.
“The Centre continues to build the capacity of African researchers and policymakers while fostering partnerships with government institutions, development partners, regional organisations, and the private sector,” he said.
Strengthening Africa’s Climate Policy Research Agenda
Prof. Edward Bbaale, the Director of CEACM and the Principal, College of Business and Management Sciences (CoBAMS), reported on Makerere University’s investment in establishing specialised centres that address critical policy challenges facing Uganda and the African continent.
He stated that CEACM was established to respond to growing global demands for climate considerations to become part of national planning, budgeting and macroeconomic decision-making.
“The Centre is committed to producing high-quality policy-oriented research while strengthening the capacity of policymakers and practitioners to respond effectively to climate and economic challenges,” he said.
He explained that CEACM was established because climate change can no longer be separated from economic planning. “It is very important that national planning, budgeting, macroeconomic frameworks and fiscal policies are not oblivious to climate change, but instead fully integrate climate-related considerations,” he said.
He stated that CEACM’s work aligns with emerging global and continental initiatives, including the Coalition of Finance Ministers for Climate Action and the Pan-African Forum of Finance Ministers on Climate Action, underscoring the increasing role of finance ministries in integrating climate priorities into economic planning and fiscal decision-making.
Prof. Bbaale added that Makerere University had positioned itself as a partner to government through research, evidence generation and capacity building. “We could not stand aside. We have to be part of this global effort and contribute the much-needed evidence, research and capacity building to support the Ministry of Finance in executing this important responsibility,” he said.
He noted that Uganda’s role as the first African country to co-chair the Coalition of Finance Ministers for Climate Action had created an opportunity for local institutions to strengthen climate-sensitive economic modelling.
Uganda’s Progress in Integrating Natural Capital into Economic Planning
Representing the GGGI Country Representative, the Manager of Climate Finance, Mr. Arthur Ssebbugga-Kimeze commended Uganda’s efforts to integrate natural capital accounting into national economic planning. “This is a critical step towards climate-resilient and sustainable development,” he acknowledged.
The Manager of Climate Finance applauded the collaboration between Makerere University, the Ministry of Finance, Planning and Economic Development, and development partners in generating evidence that supports informed policymaking.
He also recognised the Government of Denmark for its continued support in advancing climate-smart economic policies through the Denmark-EGP partnership.
Emphasizing the significance of natural capital as a key pillar of economic prosperity, Mr. Ssebbugga-Kimeze called for sustained investment in protecting these assets. “Uganda’s experience is increasingly informing climate finance and policy discussions across Africa through the Pan-African Finance Ministers’ Forum on Climate Action,” he added.
He called for strong partnerships among government, academia, and development partners to ensure that research continues to drive evidence-based policymaking and sustainable economic growth, reaffirming GGGI’s commitment to supporting Uganda’s green growth agenda.
Policy Briefs Must Move from Shelves to Decisions
Representing the Embassy of Denmark in Uganda, Ms. Nina Guldbæk van Leeuwen, Counsellor and Team Leader for Politics, Regional Affairs and Refugee Support, said natural capital accounting is critical for building climate-resilient economies.
She commended Uganda’s leadership as co-chair of the Coalition of Finance Ministers for Climate Action. “These policy briefs are crucial in enhancing the role of economic, fiscal and financial policies in addressing climate change in Uganda and Africa as a whole,” she said.
Ms. Van Leeuwen said reliable natural capital accounts enable finance ministries to integrate climate considerations into economic planning. “Ministries of Finance require these accounts to support macroeconomic modelling, which can only be developed through a strengthened and collaborative national statistical system,” she said.
She urged stakeholders to ensure the research informs actual decisions. “Let us ensure that these policy briefs do not remain on institutional shelves but are actively used to inform decisions and policies going forward,” she said.
Natural Capital Data will improve Economic Decision
The Acting Commissioner for Macroeconomic Policy at Uganda’s Ministry of Finance, Planning and Economic Development, Mr. Davis Vuningoma, called for climate change to be treated as a macroeconomic and fiscal challenge rather than solely an environmental issue.
“Climate risks pose significant threats to agricultural productivity, energy generation, infrastructure, government revenues, and fiscal stability,” he noted.
Mr. Vuningoma said natural capital accounting will strengthen Uganda’s ability to make informed economic decisions.
He warned that climate change poses economic risks that could affect Uganda’s fiscal space. “If we do not address these challenges, our fiscal space could shrink, and our ability to provide public services could be affected,” Mr. Vuningoma said.
He said Uganda’s natural resources have historically not been fully reflected in traditional economic measurements. “Uganda is richly endowed with natural capital, including forests, wetlands and water resources. However, traditional measures of economic performance have often failed to fully capture the value of these assets,” he said.
Mr. Vuningoma said the policy briefs provide practical options for government as Uganda seeks to expand its economy. “This is particularly important at a time when Uganda is pursuing ambitious economic transformation targets, including the goal of growing the economy tenfold and achieving a USD 500 billion economy,” he said.
Key Findings Highlight Pressure on Uganda’s Natural Resources
Presenting the highlights, Dr. Peter Babyenda, the Coordinator of CEACM, disclosed that the policy briefs highlight growing pressure on Uganda’s natural resources.
The Energy System at Crossroads brief found that traditional biomass accounts for about 87 percent of Uganda’s final energy consumption, highlighting continued dependence on firewood and charcoal.
The Wood Stock Declining Pathway brief found that Uganda’s national wood resources declined by 45 percent between 1990 and 2015, with projections warning of possible exhaustion of available wood supply between 2032 and 2040 under current trends.
The Land Natural Capital brief identified unsustainable agricultural expansion, deforestation and urbanisation as major drivers of land degradation.
The Ecosystem Services and Asset Accounts brief noted that although the monetary value of ecosystem assets increased between 1990 and 2015, natural capital value per person declined by 17.7 percent due to population growth.
The National Water Accounts brief highlighted agriculture as the largest water user, accounting for 55.4 percent of total water abstraction in 2024, while warning of increasing climate risks.
Panel Discussion: Advancing Climate-Informed Economic Policy for Sustainable Development in Africa
Moderated by Prof. Edward Bbaale, the session featured the following panellists: Dr. Ronald Kaggwa-National Planning Authority, Mr. Wilson Asiimwe-Ministry of Finance, Planning and Economic Development, Mr. Nathan Mununuzi-Ministry of Water and Environment, Mr. Godwin Kamugisha-National Environment Management Authority, and Dr. Peter Babyenda-CEACM Coordinator and member of faculty at Makerere University College of Business and Management Sciences (MakCoBAMS).
The Panelists argued that assigning monetary value to forests, wetlands, water resources, and other ecosystems would enable evidence-based budgeting, investment decisions, and environmental protection while capturing costs ignored by traditional GDP measures.
They stressed the need for stronger institutions, increased funding, enhanced research and capacity building, and closer collaboration between government, academia, and development partners.
The event, organized by CEACM, brought on board distinguished stakeholders including the Minister of State for Environment, Hon. Beatrice Atim Anywar who represented the Minister of Water and Environment, Hon. Maj. Gen. (Rtd.) Kahinda Otafiire, Makerere University Vice Chancellor, Prof. Barnabas Nawangwe, the Principal, College of Business and Management Sciences (CoBAMS), and Director CEACM, Prof. Edward Bbaale and representatives from different Ministries and Agencies such as, the Embassy of Denmark in Uganda, the Global Green Growth Institute (GGGI), Ministry of Finance, Planning and Economic Development, the Ministry of Water and Environment, the National Environment Management Authority (NEMA), the Ministry of Lands, Housing and Urban Development, Ministry of Energy and Mineral Development, and among others.
CEACM is a research and policy centre that supports African countries in integrating climate change and natural capital into economic planning through research, capacity building, and evidence-based policymaking. CEACM is one of the centres within the School of Economics at the College of Business and Management Sciences (CoBAMS) at Makerere University.
Business & Management
Makerere Entrepreneurship Congress Rallies Youth Behind Uganda’s ‘Tenfold Growth’Plan
Makerere University has convened its 4th Entrepreneurship Congress, positioning youth innovation at the absolute center of Uganda’s ambitious Tenfold Growth Strategy.
The long-term economic framework aims to skyrocket the country’s Gross Domestic Product (GDP) from roughly US$50 billion to US$500 billion by 2040. According to the National Planning Authority (NPA), the strategy relies heavily on four primary growth pillars known as ATMS: Agro-Industrialization; Tourism; Mineral-Based Industrialization (including Oil and Gas); and Science, Technology, ICT, and Innovation.
With over 70% of Uganda’s population under the age of 30, the youth are widely seen as the engine behind this economic transformation.
To harness this potential, the 29th October, event brought together students, entrepreneurs, industry experts, and government officials at the Makerere Uiversity Yusuf Lule Central Teaching Facility Auditorium. Running under the theme “Youth Innovations to Scale Uganda’s Growth Tenfold,” the congress focused on building strategic partnerships, boosting commercialization, and equipping young innovators to build sustainable businesses.
The event was organized by the Makerere University Entrepreneurship and Outreach Centre, alongside the Department of Marketing and Management under the College of Business and Management Sciences (CoBAMS).
Hon. Kasigwa Gerald (MP for Kigorobya County) attended as the Chief Guest. The keynote address was delivered by Dr. Cosmas Mwikirize, Superintendent of Industrial Value Chains Development at the Science, Technology, and Innovation Secretariat in the Office of the President.
Leadership Applauds Partnership
Representing the Vice Chancellor, Prof. Barnabas Nawangwe, and the CoBAMS Principal, Prof. Edward Bbaale, the College Deputy Principal, Associate Professor James Wokadala, commended the School of Business and the Makerere University Entrepreneurship and Outreach Centre (MakEOC) for strengthening university partnerships.
Noting that the MakEOC was concurrently hosting the 10th Students’ Entrepreneurship and Innovation Expo, he praised the Centre for sustaining the initiative over the past decade.
Assoc. Prof. Wokadala stressed the need for deeper collaboration to drive youth innovation and national economic transformation. He urged students to focus on developing practical, commercial solutions.
Call to Private Sector
Underscoring the value of collaboration, he acknowledged the Vision Group, Pepsi-Crown Beverages Uganda Limited, and Sumzi-Psalms Food Industries Limited for supporting the 4th Uganda-Makerere Entrepreneurship Congress.
For long-term sustainability, he called upon the business community, private sector, and industry leaders to work closely with the MakEOC.
He emphasized that private sector partners are vital for providing the mentorship, incubation facilities, and market access needed to help young entrepreneurs grow businesses, create jobs, and promote self-reliance.
Turn Innovations into Businesses
The Keynote Speaker, Dr. Cosmas Mwikirize, Superintendent of Industrial Value Chains Development at the Science, Technology, and Innovation (STI) Secretariat, urged students to use entrepreneurship to generate jobs and fuel national development.
Drawing on Uganda’s electric vehicle innovation journey, Dr. Mwikirize emphasized the importance of perseverance. He urged young innovators to challenge conventional thinking and ignore skeptics who doubt their ideas.
Achieving Uganda’s Tenfold Growth Strategy requires sustained economic growth driven by science, technology, innovation, and industrialization, he noted. To guide them, he challenged student entrepreneurs to adopt six core principles hidden within the acronym TENFOLD:
- Trouble: Identify real-world problems and develop practical solutions.
- Evidence: Prove that your innovations work to convince customers.
- Numbers: Understand your business figures beyond the daily hustle.
- Others: Build strong networks, teams, and strategic partnerships.
- Long Game: Recognize that genuine business success takes time.
- Discipline: Deliver on your promises with honesty and unwavering integrity.
Embrace Flexibility and Patriotism
Hon. Kasigwa Gerald, Member of Parliament for Kigorobya County, encouraged the students to remain flexible and look for opportunities outside their primary fields of study.
“Flexibility and a willingness to learn are essential for navigating a rapidly changing job market,” Hon. Kasigwa noted.
Underscoring the values of honesty, patriotism, and commitment, the legislator appealed to the youth to cultivate strong ethical foundations as they build their enterprises. He implored them to prepare for their roles in Uganda’s future through deliberate planning, continuous self-improvement, and hard work.
Champion the Commercialization of Innovations
The Dean of the School of Business, Associate Professor Godfrey Akileng, highlighted the vital role of entrepreneurship education in equipping students with real-world business skills. He encouraged them to cross-pollinate ideas, learn from industry experts, and build networks to successfully commercialize their research.
Prioritise Students’ Innovation
Commending the University Management and partners for their continued support, Assoc. Prof. Akileng invited participants to the upcoming Students’ Entrepreneurship Expo at Freedom Square, urging the youth to transform raw ideas into sustainable enterprises.
Dr Jude Mugarura, Head of the Department of Marketing and Management, reiterated the urgency of this educational shift.
“Entrepreneurship offers an opportunity to strengthen partnerships, promote wealth creation, and advance Uganda’s economic transformation and self-reliance,” Dr Mugarura said.
He called on government agencies and private-sector partners to step up with funding, regulatory guidance, incubation facilities, and market access. He noted that the upcoming Expo at Freedom Square would showcase breakthroughs in agriculture, technology, healthcare, and sustainable business models.
Fostering a Culture of Innovation
Dr. Sarah Bimbona, Director of the Makerere University Entrepreneurship and Outreach Centre (MakEOC), noted that the congress serves as a bridge connecting students directly with established industry titans and government regulators.
She emphasized that Makerere must nurture an internal culture where students graduate with viable businesses rather than just job applications.
“Every student from Makerere University should leave the university with an idea, a company, or an innovation that is going to help them transform their lives,” Dr. Bimbona stated.
She called for the creation of dedicated, well-equipped campus innovation spaces to help students transition their conceptual models into sustainable, job-creating enterprises.
Turning Ideas into Viable Businesses
A major highlight of the congress was a high-level panel discussion, moderated by Dr. Sarah Bimbona, which focused on transforming raw concepts into market-ready ventures capable of attracting customers, investments, and strategic partners.
The panel brought together key experts from finance, media, tech, and regulation, including:
- Mr. Hannington Musimenta, Manager of Programme Development at Uganda Development Bank (UDB)
- Ms. Lorraine Tukahirwa, Head of Marketing and Communications at Vision Group
- Mr. Boris Mugisha, Co-founder and Head of Operations at Tubayo
- Mr. Ronald Tumuhairwe, Public Procurement and Disposal of Public Assets Authority (PPDA)
The panelists collectively underscored that generating a brilliant idea is only the first step. To survive, entrepreneurs must pivot toward building business models grounded in real market demand, strict financial discipline, and deep customer trust.
Rather than waiting for massive capital, the experts encouraged aspiring youth entrepreneurs to start with manageable operations, maintain impeccable financial records, and seek institutional mentorship to scale sustainably based on proven performance.
Youth-Driven Innovation
Sharing her personal entrepreneurship journey, Ms. Devin Ester Ambayo, a student leader and entrepreneur at Makerere University, encouraged her peers to look closely at local problems and transform them into sustainable business opportunities.
She applauded CoBAMS for organizing the congress, noting that the event provides a vital platform for students to build confidence, master pitching skills, and network directly with seasoned industry figures.
The 4th Entrepreneurship Congress was moderated by Dr. Kasimu Ssendawula, a faculty member at CoBAMS, who was assisted by student co-moderators Ms. Yvonne Nakungu and Ms. Connie Nansubuga.
Precursor to the 10th Annual Students’ Expo
The successful conclusion of the 4th Uganda-Makerere Entrepreneurship Congress lays fertile ground for the 10th Annual Makerere University Students’ Entrepreneurship and Innovation Expo, scheduled for 30th October 2026 at the Freedom Square.
Running from 8:00 AM to 5:00 PM, the landmark expo provides a massive platform for over 900 students to showcase their entrepreneurial and innovation potential.
The student exhibitors and young entrepreneurs are drawn from the following academic programmes across the university, including:
- Bachelor of Commerce (Year 1)
- Bachelor of Business Administration (Year 2)
- Bachelor of Arts with Education (Entrepreneurship)
The two-week training programme aims to equip government officers with practical skills to assess project viability, manage investment risks and ensure public resources deliver value for money.
The Public Investment Management Centre of Excellence (PIM CoE) is strengthening the capacity of government officers to undertake financial appraisal and risk analysis of public investment projects through a two-week training programme designed to improve the quality of project preparation, appraisal and decision-making in Uganda.
The training, which started in Fort Portal on October 19, 2026, brought together participants from various government ministries, departments and agencies (MDAs), alongside facilitators from Makerere University, the Ministry of Finance, Planning and Economic Development, Cambridge Resources International (CRI), the National Planning Authority and the Uganda Development Bank.
Officially opening the training on behalf of the Permanent Secretary/Secretary to the Treasury, Ms Esther Ayebare, Acting Assistant Commissioner in the Project Analysis and Public Investment Department of the Ministry of Finance, Planning and Economic Development, emphasised the importance of rigorous project appraisal in strengthening Uganda’s public investment management system.
She noted that projects admitted into the public investment plan must be aligned with national priorities, technically sound, financially viable and capable of delivering value for money.
“Government must be able to compare investment alternatives and ensure that only viable projects proceed through the public investment process,” she emphasised.
Ms Ayebare explained that sound appraisal enables government to make informed investment decisions, maximise returns on public expenditure and ensure that limited public resources are directed towards projects with the greatest potential to deliver development outcomes.
Building practical skills for better investment decisions
The training builds on the Public Investment Management course conducted in June, which introduced participants to Uganda’s public investment management framework, including project conceptualisation, stakeholder analysis, project costing, implementation action plans, the Integrated Bank of Projects, and monitoring and evaluation of public investment reforms.
The current programme advances this foundation by equipping participants with technical competencies in financial appraisal, financial modelling and risk analysis.
Participants will explore integrated investment appraisal, alternative investment criteria, cash-flow statements, inflation and exchange-rate movements, asset valuation, project financing, project scale and timing, risk-sharing arrangements and cost-effectiveness analysis.
Through practical exercises and case studies, participants will apply these concepts to investment scenarios in sectors such as roads, health, education and water. The programme will also examine how climate change, social considerations and other risks can be integrated into project preparation and appraisal.
Ms Ayebare encouraged participants to engage actively with the facilitators, question the practical application of the tools and consider how the skills acquired could improve investment decisions within their respective institutions.
She also reminded participants that the programme includes an examination and that certification requires more than attendance. Participants are expected to demonstrate an understanding of the concepts and acquire practical skills that they can apply in their work.
Reducing dependence on externally prepared studies
A key objective of the training is to strengthen the ability of government institutions to undertake high-quality project appraisal studies using their own technical teams.
Ms Ayebare observed that many studies submitted to the Development Committee have traditionally been prepared by external consultants, often at considerable cost. Building the capacity of public officers to conduct these studies independently can help institutions strengthen their technical expertise and improve the quality of project proposals presented for consideration.
She urged participants to take full advantage of the facilitators’ expertise and return to their institutions equipped to undertake sound financial appraisals and provide evidence-based advice to decision-makers.
She further emphasised that project approval requires thorough preparation, analysis and justification, rather than simply identifying available funding and proposing a project to utilise it.
Strengthening public investment management through capacity development
In his remarks, Prof. Edward Bbaale, Director of the PIM CoE, thanked the Ministry of Finance for its financial support and for identifying participants from government institutions. He also recognised the contributions of the facilitators and partner institutions in delivering the programme.
Prof. Bbaale noted that the Centre’s work extends beyond training to include research and advisory services aimed at improving public investment management practices. He encouraged continued collaboration with government institutions and other partners to advance research, knowledge sharing and capacity development.
Speaking during the training, Dr John Sseruyange, Manager of the PIM CoE, highlighted the importance of commitment, active participation and punctuality throughout the programme. He encouraged participants to engage with the facilitators, ask questions and apply the knowledge gained to the projects they support.
Dr Sseruyange also acknowledged the Government of Uganda, through the Ministry of Finance, Planning and Economic Development, for financing the training, and appreciated Cambridge Resources International for its continued support towards improving public investment preparation and analysis in Uganda.
The training reflects ongoing efforts to strengthen Uganda’s public investment management system by equipping public officers with the knowledge and practical competencies needed to assess projects rigorously, identify potential risks and make informed investment decisions.
By developing in-house expertise across government institutions, the programme seeks to contribute to better-prepared projects, more efficient use of public resources and improved delivery of Uganda’s development priorities.
Business & Management
Makerere University Signs MoU with World Association of Noonomy: Sets pace for the African Centre of Excellence
By Ritah Namisango and Monica Meeme
Makerere University has signed a Memorandum of Understanding (MoU) with the World Association of Noonomy, setting the pace for academic collaboration, research and the establishment of a Centre of Excellence for Noonomy in Africa.
On behalf of Makerere University, the MoU was signed by Professor Sarah Ssali, Deputy Vice Chancellor (Academic Affairs), during the World Congress on Noonomy held in Rome, Italy, from 16th-19th September 2026, paving the way for the establishment of a dedicated institute of Excellence for Noonomy at College of Business and Management Sciences (CoBAMS).
Uganda was the only African country represented at the World Congress on Noonomy, with a Makerere University delegation including Prof. Sarah Ssali-Deputy Vice Chancellor (Academic Affairs), Prof. Edward Bbaale-Principal College of Business and Management Sciences (CoBAMS), Dr Peter Babyenda-Lecturer at the School of Economics and Policy Engagement Coordinator, College of Business and Management Sciences (CoBAMS), and Mr. Tonny Mayambala Sebbaggala, a Ugandan Economist based in Russia.
Commenting on the development, the Vice Chancellor, Professor Barnabas Nawangwe said, “By signing this MoU, the African Centre for Noonomy has been established at Makerere University. This adds to the growing number of African continental research centres that are coordinated by Makerere University. Makerere is clearly a leader on the Continent.”
The MoU signed on 19th September 2026 in Rome-Italy, builds on the inaugural conference on Noonomy, held in Uganda on 20th August 2026 at Makerere University under the theme, “The Theory of Noonomy and its Role in Resolving Modernity Issues: Pathways to Sustainable Social and Economic Transformation.”
At the Global Congress of the World Association of Noonomy, the scholars from Makerere University delivered three (3) presentations focusing on Noonomy and development challenges in East Africa, the transition from informal to formal employment, and the role of universities in advancing Noonomy.
About the Theory
The Theory of Noonomy is an emerging theoretical approach developed by Professor Sergey Bodrunov, Director of the S.Y. Witte Institute, which examines the changing relationship between knowledge, technology, production and human development. The theory places emphasis on knowledge and human potential as important drivers of development, while highlighting humanistic values and solidarity in shaping economic and social progress.
Advancing Alternative Economic Thought in Africa
Speaking at the Annual gathering in Rome, Prof. Sarah Ssali described Makerere University’s partnership as a great honour, highlighting the importance of creating space for broader theoretical perspectives on political economy and the global economy.
Reflecting on the evolution of political science and political economy studies, Prof. Ssali noted that following the era of Glasnost and Perestroika, free-market ideology and neoliberalism became increasingly dominant in global economic thinking.
“This dominance created a need for scholars to critically examine both the opportunities and limitations of market-based approaches,” she said.
She welcomed the opportunity to explore alternative ways of understanding the world, including not only the material relations of production, but also the material relations of consumption.
Prof. Ssali also acknowledged the Witte Institute for initiating the initiative and for choosing Makerere University as a key partner on the African continent.
She said Makerere University plans to establish a dedicated centre focused on the emerging area of study, with the institution aiming to launch the centre in February 2027.
“We hope the centre will become a leading African platform for research, teaching and dialogue on these issues,” she asserted.
Prof. Ssali noted that the ideas emerging from the Kampala meeting (held on 20th August 2026) are already being incorporated into Makerere University’s theoretical classes, with plans to substantially expand the initiative following the establishment of the centre of excellence.
She reaffirmed Makerere University’s commitment to the partnership and to expanding scholarly engagement on alternative approaches to political economy.
Call for Growth that Advances Social Welfare
Delivering the presentation titled: “The Role of Noonomy in Addressing Development Challenges in East Africa,” Prof. Edward Bbaale, Principal of the Makerere University College of Business and Management Sciences (CoBAMS), explored the potential of Noonomy as an alternative framework for understanding and addressing persistent development challenges in East Africa.
Prof. Bbaale noted that the approach contributes to emerging academic discussions on how economic systems can better connect economic growth with social wellbeing and inclusive development outcomes in the region.
“The study contributes to emerging academic discussions on how economic systems can better link economic growth with social wellbeing and inclusive development outcomes in the region,” he said.
The paper was co-authored with Dr Peter Babyenda and formed part of the scholarly contributions presented at the World Congress on Noonomy in Rome, Italy.
Prioritizing Human-Centred Development
Dr Peter Babyenda said Makerere University’s participation in the World Congress on Noonomy in Rome marked an important step in the University’s international engagement with the Theory of Noonomy.
“The engagement paves the way for establishing a Centre of Excellence for Noonomy at the School of Economics, under the College of Business and Management Sciences (CoBAMS),” he stated.
Dr Babyenda explained that the Theory of Noonomy places human welfare at the centre of development, arguing that development should be assessed not only through productivity and infrastructure, but also by how it improves people’s wellbeing.
He said consumption, knowledge transfer and solidarity are important considerations, including in the application of emerging technologies such as Artificial Intelligence.
Dr Babyenda revealed that Uganda has been offered an opportunity to host an upcoming World Congress on Noonomy, which he said could bring together participants from more than 55 countries and create opportunities for academic exchange, industry engagement and international visibility for Uganda.
He called upon the academia and industry to collaborate with Makerere University in advancing its engagement with the emerging field.
The Signing of the MoU at the Global Congress of the World Association of Noonomy marks a milestone in Makerere University’s efforts to contribute to international scholarly discussions on alternative approaches to understanding economic systems and development.
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