How competent are university teaching staff to deliver effectively their present and future university duties in Uganda? This question was explored in this study by collecting data from managers (n = 90), teachers (n = 126), and students (n = 179) through a questionnaire administered at Kyambogo University. The results show that teacher performance in the role of innovating; knowledge society facilitating; collaborating and networking; higher education designing and developing; and entrepreneurship, could not be considered as satisfactory. It was also established that there are significant differences in the perception of the aforesaid among the respondent categories. The findings suggest that urgent intervention is needed to develop teacher innovation competence if Uganda wants to have an effective higher education. This study also highlights the centrality of using various internal key stakeholders in the educational system such as students and educational managers if effective teacher performance evaluation is to be attained in universities.