UMA, UIA form partnership to promote insurance awareness for businesses

The chairman of the Uganda Manufacturers Association (UMA) Deo Kayemba, has reaffirmed their commitment of to collaborate with the Uganda Insurers Association (UIA) in developing a strategy to leverage each other's capabilities and fulfill their respective mandates.

Kayemba made the announcement during a meeting held at the UMA Head Offices in Lugogo, where UIA was formally recognised as a partner.

Kayemba highlighted that the proposed Memorandum of Understanding would inform the partnership between the two associations and commended UIA for its continuous support towards UMA projects, such as the recent manufacturing budget dialogue held in July 2023.

“The certificate is a form of appreciation for UIA’s continued support towards UMA projects like the manufacturing budget dialogue that was recently held on 26th July, 2023 at the Kampala Serena Hotel,” Kayemba noted.

UIA Chairman, Latimer Mukasa, praised UMA's leadership for establishing a productive partnership that focuses on creating awareness about the value of insurance to businesses through events and exhibitions.

“We are confident that the role that UIA Members are playing compliments UMA’s mandate & program for its members. This relationship is particularly relevant in this time of the changing business landscape in light of the emerging laws, technological advancements, tax regimes and non-tax barriers to trade,” he said.

Mukasa detailed that the partnership would operate under defined modalities and activities, including conducting research studies, capacity building initiatives, workshops, and policy dialogues relevant to their members.

Mukasa emphasised that UIA's members' contributions align with UMA's mandate and program for its members, which is crucial given the evolving business landscape impacted by changing laws, technological advancements, tax regimes, and non-tax barriers to trade.

UMA Board Member, Joseline Kateera, expressed excitement in formally welcoming UIA as partners and conveyed readiness to work collaboratively to ensure a successful partnership.

The two associations will explore potential collaborations among their members in feasible and appropriate business opportunities, while maximizing their core strengths and advantages to support each other's work in key areas such as the business environment, lobbying, advocacy, regional member engagements, and de-risking cross-border trade.

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