The Trustees are responsible for the administration and general management of the Scheme, in accordance with the terms of the MURBS Trust Deed and Scheme Rules (TDSR). The Board of Trustees (BoT) is made up of seven-licensed trustees as stipulated in the MURBS TDSR.
Elizabeth Patricia Nansubuga (PhD)
CHAIRPERSON, BOARD OF TRUSTEESPhD in Population Studies | MUASA | URBRA License No. TR-23-0613
Godwin Kakuba (PhD)
SECRETARY, BOARD OF TRUSTEESPhD in Scientific Computing | MUASA | URBRA License No. TR-20-0551
CPA Francesca Angida Mugyema
TRUSTEEMBA Accounting & Finance | MASA | URBRA License No. TR-21-0561
Mr. George Bamugemereire
TRUSTEEMaster of Laws(LLM), Mergers and Acquisitions | Makerere University Council | URBRA License No. TR-23-0625
Mr. Joseph Ikarokok
TRUSTEEBachelor of Commerce | NUEI | URBRA License No. TR-21-0563
Deus Kamunyu Muhwezi (PhD)
TRUSTEEPhD in Tourism Marketing | Makerere University Council | URBRA License No. TR-23-0622
CPA Edna Isimbwa Rugumayo
INDEPENDENT TRUSTEEMSc Accounting & Finance | URBRA License No. TR-18-0442
Board Structure
The Board of Trustees is the highest authority in MURBS, and it works through three standing committees that are supported by co-opted members with technical expertise. These are the Investment Committee, Finance and Administration Committee, and the Audit Committee.
The Investment Committee
​The Investment Committee is responsible for reviewing and implementing the Board’s Investment Policy Statement (IPS) as well as managing all investment-related arrangements. The current Committee is composed of;
1. Mr. Joseph Ikarokok – Chairperson
2. Elizabeth Patricia Nansubuga (PhD) – Member
3. Deus Kamunyu Muhwezi (PhD) – Member
4. Godwin Kakuba – Ex Official
5. Mr. Alan Norman Lwetabe – Member
The Finance and Administration Committee
​The Finance and Administration Committee is responsible for reviewing and executing the Board’s policies pertaining to all aspects of the Scheme’s financial management and administration. The current Committee is composed of:
1. Godwin Kakuba (PhD) – Chairperson
2. Elizabeth Patricia Nansubuga (PhD) – Member
3. Mr. George Bamugemereire -Member
4. Arcadia Advocates – Scheme Lawyer
The Audit Committee
The Audit Committee is entrusted with the responsibility of overseeing and implementing the Board’s policies regarding all facets of the Scheme’s functions and risk management. The current Committee is composed of:
1. CPA David Ssenoga – Chairperson
2. CPA Franco Angida Mugyema – Member
3. Saul Hannington Nsubuga (PhD) – Member
4. Godwin Kakuba – Ex Official
Co-Opted Members
Mr. Paul Kuteesa
Scheme Lawyer (Representative - Arcadia Advocates)DIP LIP, LLB; Certified RBS Trustee. Partner and Head of Litigation at Arcadia Advocates. An acclaimed and meticulous Litigation Lawyer with over 16 years of courtroom experience, who has won several landmark cases for multinational and commercial investments in Uganda and East Africa.
Dr. Saul H Nsubuga
Member Audit CommitteePhD (Maths). Certified RBS Trustee since 2018. Former Trustee of MURBS (2010 - 2016) and one of the first two trustees of MUASA on the Board of Trustees. Also served as the Board Secretary of MURBS between 2010 to 2013.
CPA David Ssenoga
Chairperson Audit CommitteeMSc (Finance and Accounting). Certified RBS Trustee since 2017. Active member of ICPA(U) with over 33 years experience in banking, microfinance, auditing, investigations, due diligence assessments, taxation and financial reporting. Founder and practitioner at SDS & COMPANY Certified Public Accountants.
Mr. Alan Norman Lwetabe
Investment Advisor and Member of the Investment CommitteeCFA, CAIA; M.A Economics. Currently the Head of Advocacy at CFA Society East Africa and responsible for providing strategic direction and leadership in relation to Research, Advocacy and Standards across the East African region. Investment Director at Deposit Protection Fund of Uganda (DPF).