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 accountancy, consultancy and project management that has been key in transforming banking, telecommunication, and services sectors within and beyond Uganda.
She is also a non-executive director at Absa Bank, ABI Finance and chairs the Access Financial Services board.
Ms Nkuutu has previously worked as a non-executive director for African Alliance Uganda, a consultant programme manager for DFCU Bank, chief financial officer for Vodafone (Afrimax) Uganda, and DFCU Bank.
Barbara S. Mulwana | Jubilee Health chairperson
The electrical engineer and computer scientist, has been a key figure in the manufacturing sector having served as the chairperson of the Uganda Manufacturers’ Association.
She is currently the chairperson of Jubilee Health, the fourth largest insurance company in the life category with a 15.5% and gross written premium of UGX 114.8 billion.
She is an accomplished industrialist, having worked with Nice House of Plastics, a company founded by her late father since 1991 as head of sales and marketing and later as executive director.
In May 2017, she was elected chairperson of Uganda Manufacturers’ Association, an industrial lobby and advisory association that brings together over 600 Ugandan manufacturers and industries.
She holds a Bachelor of Science in Electrical Engineering and Computer Science from Northwestern University in Evanston, Illinois, in US and an Electronic Document Professional certification, from the Kellogg School of Management.
Mrs Mulwana has also previously worked as an applications engineer at Goodyear Tire and Rubber Company in Akron, Ohio, US.
Ketrah A Tukuratiire | NIC General
Mrs Tukuratiire, an advocate of the courts of judicature, is the chairperson of one of Uganda’s oldest insurance companies, which has a market share of 0.3% and gross written premiums of UGX 1.8 billion.
Before joining private legal practice, she worked in various capacities in the Ministry of Justice and Constitutional Affairs, retiring after 21 years of service at the rank of Acting Registrar General.
She has previously worked as a manager, legal services at Bank of Uganda, served as a member on the Capital Markets Authority, Vision Group and Management Committee of the Law Development Centre.
She holds a bachelor Laws from Makerere University and a Post Graduate Diploma in Legal Practice from the Law Development Centre, and a Diploma in Modern Management and Administration from the Cambridge International College, UK.
Grace Makoko | Britam Life Assurance chairperson
Before she was appointed chairperson of Britam Life Assurance, Mrs Makoko had served as a non-executive member of Britam Life Assurance.
She is a career banker with over 25 years of experience in banking across East Africa. She began her career at Standard Chartered Uganda as a contract staff in the loans administration unit in 1995, before rising through the ranks to become the area head of financial markets in East Africa from 2011 to 2015.
She has written widely on personal finance and wealth creation and has since September 2016 contributed to a weekly column on personal finance, wealth creation and business in the New Vision and on financial literacy, personal finance, money markets and banking, in Daily Monitor from February 2010 to April 2015.
Eva Mukasa | APA Uganda chairperson
The finance and microfinance consultant with over 30 years in the finance sector, is the current chairperson of APA Uganda, which has a market share of 3.2% and gross written premiums of UGX 30.8 billion.
She has previously worked with East Africa Development Bank as an accountant and director of finance and also actively participated in the formulation of the concept paper that conceived the Association of Microfinance Institutions of Uganda, for which she was also its first president.
She is currently the Treasurer Buganda Kingdom where she is responsible for the management of the finances of the Kingdom from all sources.
Candy Wekesa Okoboi | Mayfair chairperson
Mrs Okoboi is currently the chairperson of Mayfair, which has a market share of 3.4% and gross written premiums of UGX 28.1 billion.
She has more than 25 years of experience in senior roles within legal practice, financial markets and consulting. She is currently the head legal Stanbic Bank Uganda.
She has previously worked as the deputy group company secretary of UAP Old Mutual, headed the legal and compliance departments of Uganda Securities Exchange and the Capital Markets Authority and served as a member of the Africa Peer Review Mechanism, chaired the Centenary Bank Staff Retirement Benefits Scheme Board of Trustees and the Stanbic Incubator, among others.
She is currently a member of BAT (U) Limited and a trustee on the Stanbic Staff Retirement Benefits Scheme Board of Trustees.
She holds a bachelor of Laws from Makerere University, a Post Graduate Diploma from the Law Development Centre and a Master of Business Administration from University of Edinburgh Management School. She is currently pursuing an Executive, Master’s level Diploma in Strategy and Innovation at the University of Oxford.
Aphwa Kawaase Sebyala | Women in Insurance in Uganda chairperson
Mrs Sebyala has more than 38 years of experience in insurance, in which she has held several senior roles including deputy chairperson of Insurance Regulatory Authority, secretary of Insurance Institute of Uganda and Uganda Insurers Association.
She was the founding chairperson of Women in Insurance in Uganda, a position that she still holds and she is also the founding director of Energizing Solutions, a consultancy firm offering a range if insurance solutions.
She holds a Bachelor of Sciences from Makerere University, a diploma in Business Management from the Institute of Public Administration, a Masters in Management Studies from Uganda Management Institute.
Sarah Nanziri Bagalaaliwo | Alliance Insurance chairperson
Mrs Bagalaaliwo is the current chairperson of Alliance Insurance. In addition to this, she is the chairperson of Exim Bank, where she has also previously served as a non-executive director.
Inside Uganda’s Property Market: Broll Uganda’s Moses Lutalo on Sector Realities and the Signals Investors Can’t IgnoreGrace Bakunda | Insurance Regulatory Authority vice chairperson
She is highly experienced in financial management and operations, strategy and result implementation.
She has previously chaired the PostBank board, helping the bank to create a niche market in a market that is highly saturated.
Currently, she serves as the vice chairperson of the Insurance Regulatory Authority.
Evelyn Nkalubo | SWICO chief executive officer
She is the current vice chairperson of the Women in Insurance in Uganda where she also serves as the chairperson of finance and administration committee.
She has wide experience in the insurance business and is currently the chief executive officer of State Wide Insurance Company (SWICO).
She has previously worked as secretary of the Uganda Insurance Commission and deputy commissioner for insurance of the Commission.
Ruth Namuli | Sanlam General chief executive officer
Mrs Namuli was in 2022 appointed as the Sanlam General chief executive officer, after serving the company as general manager-corporate from 2016.
She is also the current chairperson of the Uganda Insurer Association.
She has since steered Sanlam General into a market leader, becoming the second largest nonlife insurer with a market share of 11.5% and gross written premiums of UGX 112.6 billion.
Mrs Namuli has more than 18 years of insurance underwriting experience, having worked as an underwriter at the Insurance Company of East Africa, before becoming the underwriting manager of UAP Old Mutual between 2011 and 2016.
Ritah Kabayiza Mutesi | Willis Towers Watson Insurance Brokers
Mrs Mutesi is currently the vice chairperson of the Insurance Brokers Association of Uganda, an umbrella association that brings together more than 48 insurance companies.
She has more than 16 years of experience in insurance operations and is currently the executive director of Willis Towers Watson Insurance Brokers.
She has previously worked with Eagle Africa and Grassavoye.
Aidah Nkwanzi Mwebaze | Britam Life Assurance chief executive officer
Mrs Mwebaze has more than 18 years of experience in commercial and personal insurance that she has used at Britam Life to deliver improved sales, relationship management, risk assessment, pricing, and underwriting.
Her expertise is complemented by strong analytical skills, a results-driven mindset, and excellent interpersonal abilities to build teams, integrity, and maintaining a positive, solution-oriented approach to work to deliver better results.
She is passionate on delivering value and fostering long-term partnerships in the ever-evolving insurance industry.
Martha Aheebwa | Standard Chartered Bank head of Bancassurance
She is a chartered insurer with more than 15 years of experience in direct insurance operations, product development, wealth management, and policy advocacy.
She currently heads the Bancassurance division at Standard Chartered Bank and also serves as the chairperson of the Uganda Bankers’ Association’s Bancassurance Technical Committee.
She has previously worked with UAP Old Mutual, the Uganda Insurers Association and DFCU Bank as principal officer for Bancassurance.
She holds a bachelors in Statistics from Makerere University, and an advanced diploma in Insurance from the Chartered Insurance Institute London.
Ann Atukunda | Prudential Assurance head of Bancassurance
She has more than 10 years of experience in insurance operations and she is currently the head of Bancassurance Partnerships at Prudential Assurance Uganda.
She has previously worked with Sanlam Uganda, serving in various roles including manager Bancassurance corporate relationship, Bancassurance manager senior manager, corporate business.
She holds a bachelors degree in Development Economics from Makerere University and a diploma in insurance from the Insurance Training College.
Her professional journey has been centred on developing and executing innovative bancassurance strategies that drive sustainable business growth and enhance financial inclusion.
Josephine Mutabuza | Absa head of Bancassurance
She has spent the last eight years at Absa as head of Bancassurance.
Before joining Absa in 2017, she had worked at Stanbic Bank as a Bancassurance officer from which she accumulated experience to navigate one of the fastest growing sectors in the insurance business.
She holds a Master of Business Administration from the East and Southern African Management Institute.
Priscilla Mugisha | Britam Bancassurance manager
She has about 10 years of experience in insurance business and operations, having worked for some of Uganda’s most versatile insurers.
She is currently the Britam Insurance Company Bancassurance manager and has previously worked as the special channels manager UAP Insurance Company Uganda.
