Makerere University is set to sign a Memorandum of Understanding (MoU) with the Uganda Bankers Association (UBA) aimed at promoting financial literacy among staff and students.

The mutual partnership will also focus on incorporating financial literacy in the University curriculum and hosting of workshops/seminars.

The Uganda Bankers Association is the umbrella body of 25 commercial banks and one Development Bank operating in Uganda. The UBA member commercial banks are licensed and regulated by the Bank of Uganda under the Financial Institutions Act 2004.

Addressing the Makerere University Management, Mr. Emmanuel Turyamuhika Kikoni- the Executive Director, Uganda Bankers Association highlighted that Makerere University, with a population of over 40,000 students and staff, is one of the critical and valued strategic partners of banks. He noted that many UBA member banks are strongly represented at Makerere University; the University and its staff and students are good customers of UBA member banks as depositors, borrowers and consumers through various banking outlets.

“Makerere University is an institution that trains business and economics; we thought it worthy collaborating with it in promoting our financial literacy programme to sensitize Ugandans on money, the principles of its effective handling, borrowing and investment activities,” he said.

The Vice Chancellor, Prof. John Ddumba-Ssentamu appreciated UBA’s proposal on financial literacy and expressed the institution’s readiness for partnership.

“We are glad that you have chosen Makerere University as your partner institution. Makerere University embraces private-public partnerships. We welcome the financial literacy programme. We also know the vital services banks provide. I believe that our community will benefit tremendously from your services when you actively engage with them,” said the Vice Chancellor.

On the implementation of the financial literacy programme, the Vice Chancellor stated that the UBA team would work with the Makerere University College of Business and Management Sciences in liaison with the mandated offices in the University including the Office of the Deputy Vice Chancellor (Academic Affairs), Dean of Students and the Public Relations Office.

Prof. Ddumba-Ssentamu reiterated the need for both parties to sign a Memorandum of Understanding that will describe the terms and conditions of their mutual partnership. To expedite the MoU, the Vice Chancellor advised the UBA team to work with the Makerere University  Legal Office. He equally encouraged the UBA team to develop a program activity that both parties would follow during the implementation of the partnership activities.

The team from UBA comprised the following: The Executive Director Mr. Emmanuel Turyamuhika Kikoni, the Chairman of the Association Mr. Fabian Kasi, Vice Chairman Mr. Balbir Singh Dhaka, Manager Research Mr. Solomon Ichumar and Consultant Mr. Daniel K. Nsibambi.

The Makerere University  team comprised the following: Deputy Vice Chancellor for Academic Affairs-Associate Prof. Okello Ogwang; Ag. University Secretary-Mr. Charles Barugahare; Ag.University Librarian-Dr. Helen Byamugisha; Ag. University Bursar-Ms Deborah Nalule; Academic Registrar-Mr. Alfred Masikye Namoah; Dean of Students-Mr. Cyriaco Kabagambe; Ms Naome Kiconco representing the Mak Legal Office; Ms Caroline Nanono-Personal Assistant to the Vice Chancellor; and Ms Ritah Namisango-Senior Public Relations Officer. The meeting was held on 13th October 2015 in the Main Building Council Room.

Article Credit:  Makerere University Public Relations Office