The transition is part of a Group-wide rebrand that unifies all operations across Africa under one trusted and recognisable brand – Old Mutual.
Speaking during the function held in Kampala the Ministry of Finance Permanent Secretary, Ramathan Ggoobi congratulated Old Mutual Uganda on the transition and key milestone but also for its business resilience and serving customers for over 180 years,
“Today we celebrate Old Mutual‘s strides to empower Ugandans towards financial wellness and overall economic growth,” Ggoobi said.
He said Uganda was ranked as East Africa's most rewarding economy for investment in the 2023 Africa- Reward Index by Oxford Economics Africa, following a significant improvement in its risk- reward score between 2022 and 2023, adding that the country has met the United Nations’ criteria for graduation from the Least Developed Countries (LDC) category, a momentous achievement that signals readiness for economic transformation.
Ggoobi also mentioned the country’s tenfold growth strategy, a blueprint for rapidly expanding Uganda’s economy in a transformative, sustainable and inclusive manner.
“One of the key ambitions under this strategy is to double the level of savings in the economy from 20% GDP in 2022 to 40% GDP in 2024, to match the required level of investment (40% of GDP). We appreciate Old Mutual’s efforts in contributing towards Uganda’s economic transformation through the life assurance business that offers savings solutions and the investment group business that offers solutions such as the unit trusts.”
The Insurance Regulatory Authority CEO, Al Hajji Lubega Kaddunabbi said Old Mutual as a leading insurer has actively driven digital innovation, improving customer experience.
“Additionally, IRA strongly encourages insurance professional development. Old Mutual has also been noticed for its commitment to professional growth. We have had several graduates from Old Mutual through the Insurance Training College (ITC). This is important for public confidence in service delivery,” Kaddunabbi said.
He commented Old Mutual for standing out for its commitment to Environment, Social, Governance (ESG) initiatives.
The Old Mutual board chair, Mathias Katamba said this is a strategic move to solidify Old Mutual’s role as a diversified financial services provider, blending digital solutions with a focus on customer financial wellness.
“In Uganda, we have been purposeful in our growth, evolving from insurance to a truly diversified financial services provider,” said Katamba.
The Old Mutual Uganda Insurance Managing Director, Stephen Chikovore,said at the heart of the rebrand are the people who make Old Mutual what it is.
“The rebrand is a recognition of your resilience and your commitment. It is also a promise that as Old Mutual grows, so too will the opportunities, benefits, and experiences available to you. As we step into this future together, let us embrace the opportunities ahead with shared purpose. Together, we will continue to innovate, grow, and strengthen the bonds that make Old Mutual an organization we are all proud of,” Chikovore said.
“We are reimagining what it means to work at Old Mutual. With initiatives like enhanced medical schemes, subsidized fitness, and wellness programs, we are making sure your wellbeing is always prioritized. This rebrand also represent broader career pathways, opening doors for you to explore new skills and new roles across the wider Old Mutual Group.”
He said as the group looks to the future, they hope for a stronger brand, a stronger future, and a stronger Old Mutual – built for financial wellness for our clients and for the growth, wellbeing, and success of its people.