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Mak receives property: NIC hands over Plot 2A Kampala Road

On Wednesday 10th July 2019, the Chairperson of National Insurance Corporation (NIC) Dr. Martin Jerome Okec Aliker together with the Managing Director Mr. Bayo Folayan handed over property located on Plot 2A Kampala Road to Makerere University Chairperson of Council, Mrs. Lorna Magara.

In a report, the Director of Estates and Works Department at Makerere University, Eng. Christina Kakeeto highlighted that the Plot is developed with a five storey structure along Kampala Road with a gatehouse and a generator house at the south western end. The land is regularly shaped and measures approximately 0.072 Ha (0.178 Acres). The gross external area of the Building is 1,990 square meters.

Witnessed by NIC Board and Management, Chairperson of the Finance, Planning, Administrative and Investment Committee of Mak Council, the Vice Chancellor and his Management team, Lawyers, Mak Legal team and Public Relations Office, the handover of the property to Makerere University marked the end of long term negotiations.

On receiving the property documents, the Chairperson of Council, Mrs. Lorna Magara applauded the Board of National Insurance Corporation and Makerere University Management and Council upon reaching an amicable solution.

Today the property-Plot 2A Kampala Road officially gets listed onto the University's Asset Register and must be managed in accordance with the laws governing public assets. We appreciate everyone who has ensured that we reach this day and we look forward to continued guidance on how to manage this property better with minimum liability on the university, she said.

She thanked the Government of Uganda particularly the President, H.E Yoweri Kaguta Museveni for supporting the negotiations. Mrs. Magara also commended the Ministry of Finance, Planning and Economic Development for implementing the presidential directive and for the crucial guidance given during the negotiations between Makerere University and National Insurance Corporation.

As the University Council, we remain committed to creating the policy and governance atmosphere that creates an environment conducive to the promotion of teaching and learning, research and community outreach. The three pillars of our mandate. I have no doubt that the newly acquired property will go a long way in promoting the mandate and aspirations of Makerere University, she added.

The Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe said that the formalized relationship with National Insurance Corporation presents both parties with a platform to partner in several areas of development.

He applauded Prof. William Bazeyo, the Acting Deputy Vice Chancellor (Finance and Administration), who spearheaded the negotiations on behalf of Makerere University Management for relentlessly engaging the Management of National Insurance Corporation, the Ministry of Finance, Planning and Economic Development and other Government entities until an amicable solution was realized.

The Chairperson of National Insurance Corporation, Dr. Martin Jerome Okec Aliker was delighted that the long term negotiations that started way back, building on from his predecessors, have yielded positive results during his tenure. We are very happy for the conclusion of the negotiations. We would like the good working relationship between Makerere University and National Insurance Corporation to continue, said Dr. Aliker.

The Managing Director of National Insurance Corporation Mr. Bayo Folayan said the property symbolizes long term negotiations and a strong partnership that has been developed between Makerere University and National Insurance Corporation.

Prof. William Bazeyo reiterated that the property received is an investment for Makerere University. He re-affirmed his readiness to work with the University Management and Council to ensure that the property generates income for the University.

Source: Makerere University

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