BUSITEMA, UGANDA – In a strategic move poised to reshape its financial future, the Busitema University Vice Chancellor, Professor Paul Waako, has announced the appointment of Dr. Fredrick Kiwuwa Lugya as its new Chief Executive Officer during the Busitema University Budget Retreat at Wash and Wills Hotel, Mbale City. The appointment, effective immediately, signals a new chapter for the Fund, with a clear mandate to transform it into a self-sustaining, profit-generating powerhouse.

Dr. Lugya, a seasoned academic and administrator with a proven track record in strategic development, brings a wealth of experience to the role. His vision for the Fund is not merely one of management, but of aggressive and innovative growth, aligning its operations with the university's broader mission of excellence and self-reliance.

Upon assuming office, Dr. Lugya did not waste any time, immediately kick-starting a series of bold initiatives designed to "breathe fire" into the Fund's operations. He outlined a multi-pronged strategy focused on diversification, commercialisation, and strategic partnerships.

In his inaugural address to the Fund's staff, Dr. Lugya emphasised a culture of accountability and results. "The era of the Fund being a passive entity is over," he declared. "We are now an active, agile firm. Our goal is not just to generate income, but to grow this Fund into one of the best university-based investment vehicles in the region, a model for others to emulate."

University stakeholders have welcomed the appointment and the bold new direction. The Fund’s Chairperson of the Board of Directors expressed confidence that Dr Lugya’s dynamic leadership will be the catalyst needed to secure the institution's financial autonomy and fuel its future growth.

With these initiatives already in motion, the Busitema University Fund SME is on a clear trajectory under Dr. Lugya’s stewardship, poised to become a cornerstone of the university's long-term sustainability and excellence.