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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In a world where Fintech is fast reshaping Africa’s economic landscape, few leaders are steering the transformation with the grace, grit, and vision of Charity Mutagamba, the CEO of FinCom…
Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s leading insurers and financial services providers are pleased to announce that they have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. The joint venture will operate as SanlamAllianz. “SanlamAllianz’s ambition is to be among the top three players, in both market share and profitability, in the markets where the company will operate,” the company said in a media statement. The joint venture, according to the statement, is expected to have…
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The Board of Directors, of Sanlam General Insurance, has elevated Ruth Namuli, to become the insurer’s Chief Executive for Uganda. The appointment took effect in June 2022. Ruth, who has spent 7 years with Sanlam, has previously been the company’s General Manager, since February 2016. She replaces Gary V. Corbit who has been appointed the Chief Officer of Sanlam Life Insurance Uganda- a sister company. Sanlam General Insurance is part of Sanlam, a diversified financial services company headquartered in South Africa, with a strong presence in more than 30 countries on the African continent, India, Malaysia and various other developed…
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Insurance guru Gary Corbit, previously the Chief Executive Officer at Sanlam General Insurance has been reassigned to the Chief Executive role at Sanlam Life Insurance. Gary joined Sanlam Life Insurance Uganda in March 2022. As Chief Executive, his role involves running the company’s strategy and allocating capital and people resources to deliver on the strategy. An experienced and hands-on Chief Executive, Gary is known for transforming Sanlam General Insurance from the 14th position to the 2nd position (based on Net Earned Premium), all in 7 years. He also grew Sanlam General’s asset book from UGX9.3 billion in 2015 to UGX147…
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Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with a century of history in Africa, have agreed to combine their current and future operations across Africa to create the largest Pan-African non-banking financial services entity on the continent. This combination means that customers across Africa will benefit from the expertise and financial strength of two respected and well-known brands. The joint venture will house the business units of both Sanlam and Allianz in the African countries where one or both companies have a presence. Namibia will be included…
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Sanlam Life Insurance Uganda has dismissed as “malicious”, allegations, that its Chief Finance Officer, Anthony Gitonga Kirimi, fraudulently transferred money, amounting to UGX3.5 billion for his private benefit, as has been alleged by some local news websites. In a 13th August 2021 statement received by CEO East Africa Magazine from the Sanlam Group’s communication, the pan-African financial services group said that after an audit into Sanlam Life Uganda’s books by the Group auditors, there was no evidence of the alleged fraud. “The Sanlam Group Internal Audit team conducted an audit to determine the veracity of recent unverified media reports alleging…
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Sanlam Head of Marketing & Channel Development- East Africa Donato Laboke has been appointed to the Board of Directors at Rays of Hope Hospice Jinja as a non-Executive Director. “We, at Rays of Hope Hospice Jinja, welcome this energy and enthusiasm to constantly find new ways to improve and we are very excited to have Donato Laboke as a new member of our Board of Directors,” the organisation’s management said in a statement. Rays of Hope Hospice Jinja is a non-profit, inter-faith organisation aimed at providing palliative care in the Busoga Region and Buikwe District in Uganda. Laboke is a…
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Donato Laboke has been appointed the Sanlam Head Marketing and Channel Development East Africa effective 1st January 2021. He has held the position in an acting capacity since 1st May 2020. In his new capacity, Laboke is tasked with leading the Sanlam Pan Africa regional marketing and channel development strategy within East Africa. Donato was previously the General Manager- Marketing and Brand at Sanlam General Insurance Uganda, a function he will continue to oversee as he takes on new responsibilities in the region. With over 12 years work experience, Donato has expertise in business, marketing & communication strategy development, sales…
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Although it is now slightly over 10 years since Sanlam, one of the 50 largest internationally active insurance groups and the second-largest in Africa, opened shop in Uganda as Sanlam Life, it is just about 6 years since Sanlam General Insurance (Sanlam GI) formally entered the Ugandan market. Sanlam GI’s entry was via a larger April 2014, acquisition of 49 percent of NICO Holdings’ general insurance business across in Malawi, Zambia, Tanzania and Uganda by Sanlam Emerging Markets (SEM), that saw Sanlam acquire a majority stake in Niko Insurance Uganda a subsidiary of NICO Holdings. At the time, NIKO just had…
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