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In a rare case of an efficiently managed public institution in Uganda, the Insurance Training College (ITC) emerges as an island of financial discipline in a sea of inefficient state enterprises. In his report for the 12 months ended June 2024, Auditor General Edward Akol delivers glowing praise: the College’s books are clean, its statements comply with International Financial Reporting Standards (IFRS), and its liquidity is not just adequate – it’s exemplary. But behind the commendation lies a quiet dysfunction: an execution gap that threatens to erode the very mandate the College was created to uphold. Clean accounts are no…
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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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Over 5,000 runners took part in the Absa KH3-7 Hills Run marathon that took place on Sunday 17 March 2024. The annual marathon challenges runners to traverse the length of the proverbial 7 hills that make up Kampala City. Proceeds from the run dubbed “Run Her Race” and organised by Absa Bank Uganda and Kampala Hash House Harriers (KH3) will go towards initiatives that focus on returning girls who have dropped out of school prematurely, to school as well as providing urgent menstrual hygiene support to impoverished schoolgirls who often drop out of school due to prohibitive costs of sanitary…
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Nine Life Assurance Companies, in 2018 underwrote UGX216.88 billion, nearly 4 times the amount of business the sub-sector underwrote in 2013- a year before the regulator took a strategic decision…
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