For years, Uganda’s digital lending sector has expanded at breathtaking speed, but without the underlying visibility required to support responsible growth. Borrowers have increasingly turned to mobile money as their...
There are years when an industry grows quietly, and then there are years when it changes character. For Uganda’s insurance industry, 2025 was unmistakably a change of character. Viewed from…
Paul Kavuma, the former Chief Executive Officer of Jubilee Allianz General Insurance Uganda, has announced his move to Liberty Uganda, where he takes up the role of Country Head of…
This festive season, Pearl Bank (formerly PostBank Uganda) reminded customers that banking can still feel human, warm, and personal, as it concluded its Christmas campaign dubbed “Pearl Santa.” The campaign…
Old Mutual Insurance Uganda, Uganda’s No.1 general insurer, has announced that its Managing Director and Chief Executive Officer, Stephen Chikovore, will step down from his role effective 31 January 2026.…
To help customers access quick cash conveniently, dfcu Bank introduced the Mobi Loan, a fully digital solution designed to provide financial relief in urgent situations. We sat down with Gloria…
Uganda Registration Services Bureau (URSB) registered a significant increase in borrower securities or collaterals under the Security Interest in Movable Property registry in the year ended June 2024, an indication of increased search for credit. Data contained in the URSB Annual Report for the 12 months to June 2024, indicates that during the period, borrowers registered double the number of securities against which more than 11,350 loans were advanced in the 2023/24 financial year. Data further indicates that registered securities – as collateral for loans – increased by 57.5, rising by 4,551 from 6,179 in the 12 months to June…
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This year holds a promise of growth with more Ugandans taking on insurance, The sector, even as penetration remains under 1 percent, has been expanding in terms of premiums, supported by especially growth in health or medical and micro insurance premiums, which have since the advent of Covid-19, registered significant uptake as Ugandans seek to insulate themselves against out-of-pocket expenses in cases of medical emergencies or other risks. In 2022, the Insurance Regulatory Authority Uganda indicated that health insurance was the fastest growing segment of the insurance sector as more corporate organisations and individuals continued to use it as a strong bargaining tool. But beyond this,…
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Uganda’s insurance sector has for long been viewed as a male-dominated sector, however, the last decade has seen more women rise into leadership ranks. On this Women’s Day, the CEO Magazine profiles some of the exceptional female leaders making meaningful contributions and major career accomplishments. Sophie Nkuutu | UAP Old Mutual Life Assurance chairperson Mrs Nkuutu chairs the board of one of most profitable insurance companies in the life category in Uganda. UAP Old Mutual is the second largest insurance company in the life category with a market share of 17.9%. She has over 25 years of experience in…
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Insurance gross written premiums grew by 12.04%, increasing by at least UGX 192.4 billion in the three months to December 2024. Details contained in the Insurance Regulatory Authority (IRA) Market Performance Report show that gross written premiums rose from UGX 1.5 trillion in the same period in 2023 to UGX 1.7 trillion supported by considerable growth in microinsurance, Health Maintenance Organizations (HMOs) and life premiums. During the period, microinsurance posted the largest share of growth of 67.4%, doubling gross written premiums from just UGX 888 million to UGX 1.4 billion, while premiums under HMOs grew by 24.01%, rising from UGX…
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The highly anticipated I&M Bank Katogo Golf Series is back for the 2025 season, promising thrilling competition with new formats of play and a significant financial boost. The tournament was…
Beyond the conventional channels of writing insurance premiums, insurers have also built a new revenue stream of bancassurance through which they partner with banks to recruit new policyholders. During the three months to December 2024, gross written premiums from bancassurance rose by 25.36% to UGX 225 billion from UGX 179.4 billion, contributing 12.56% to gross insurance written premiums. Life continues to dominate in terms of written premiums under bancassurance, contributing 78.26%, compared to 21.74% for nonlife. IRA data indicates that in the three months to December 2024, banks wrote 619,719 life policies, from which UGX 176 billion was generated, leading…
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By Adons Aryong For the last half of a century, Uganda’s vibrant education system held onto traditional models of school fees collections through direct bank deposits and cash payments at…
The insurance sector has continued to be pivotal in the financial sector. However, it is largely dominated by a few companies with the largest share of premiums written by just 10 companies for both non-life and life insurance. Under non-life, at least 58.9% of premiums are generated by five companies, while another five generate more than 88.5% of life premiums, according to data from the Insurance Regulatory Authority (IRA). IRA Market Performance Report for the three months to December 2024 indicates that the insurance sector has about 31 companies, of which 20 are non-life, while eight and three are life…
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The High Court has directed Bank of Uganda (BoU) to pay UGX 200 million to an interior design firm, C&S Upholstery Limited, for unfairly disqualifying it from a multi-billion contract to supply and install carpets at the central bank’s headquarters in Kampala. In a ruling delivered by Justice Musa Sekaana, court noted that Bank of Uganda had breached its statutory duty of fairness and transparency in the procurement process by wrongly rejecting C&S Upholstery’s bid over allegations of forgery. Court found no credible basis for Bank of Uganda’s actions, which caused financial losses and reputational damage to the company. Bank…
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