Mak to build Shs70 billion innovations hub

Patrick Bitature (L) the Chairman Simba Group of companies also the board chairman Private Sector Foundation Uganda, receiving a gift hamper from Eratus Sifuma the Vice President Head of Business Development Pine Bridge Investments East Africa at Protea hotel in Kampala yesterday. PHOTO BY STEPHEN OTAGE

What you need to know:

The university has allocated them two acres of land near the University Guest House to construct the 12-storey commercial facility which will have a library, publishing house, innovations hub, offices and lecture rooms estimated to cost between $15 million and $21 million depending on the contractor

KAMPALA.

Makerere University Holdings Company has secured two acres of land within the university to construct the Emmanuel Mutebile Centre of Excellence to process and refine innovations and ideas.
Speaking to pension managers around the country during a pension schemes’ symposium organized by Pine Bridge investments, a global asset management company with an asset management portfolio estimated at $2 billion within East Africa on Wednesday, Mr Patrick Bitature, the board chairman Private Sector Foundation Uganda, said the Mutebile Centre of Excellence is a partnership between the academia, government and the private sector to come together and process their ideas and innovations which can move the country forward.
“We have many people with chunks of money but do not know how to move to the next level. There is no work in progress; there is dire need for this facility because the private sector is supposed to lead the economy but it is government leading,” he said.

He revealed that the university has allocated them two acres of land near the University Guest House to construct the 12-storey commercial facility which will have a library, publishing house, innovations hub, offices and lecture rooms estimated to cost between $15 million and $21 million depending on the contractor.
He added that government has already committed $3.5 million towards the project and they are looking for a core investor to accomplish the project.
“Rwanda, Kenya and Tanzania are not sleeping. We need a centre to refine our ideas and make them viable we must define our destiny and have a vibrant organised private sector,” he said.
The symposium brought together managers of various pension schemes in the country.

According to PineBridge CEO, Jonathan Stichbury, lack of diversification can compromise investments because property goes through different cycles.
“We have gathered different professionals to talk about opportunities in pension funds because most schemes have not diversified their investments and yet diversification is a good strategy to reduce risk,” he said.

PineBridge deals in hedge funds, manages property of asset class clients and advises them whether to invest in government securities or property so that they diversify their investments.