Phillip Niwamanya, Oil and Gas Sector Head at Absa Bank Uganda Lack of collateral for financing is one of the challenges hindering local Small and Medium Enterprises (SMEs) participation in the oil and gas industry. This was one of the issues discussed during the virtual industry dialogue for the month of
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Police say taxis and boda bodas dominate 3rd Party Insurance fraud Uganda’s insurance industry is struggling to deal with the high levels of evasion of the Motor Third Party Insurance, a compulsory insurance policy for all motor vehicle or motorcycle owners. The insurance industry players say bodaboda riders or owners,
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The Insurance Regulatory Authority of Uganda (IRA) has published industry performance for the period April-June 2021 (Q2) with Bancassurance recording a 54% growth dominated by Stanbic Bank Uganda which consolidated its market-share to 21.2% from 19.1 between January and March. According to IRA, the insurance industry registered impressive growth in
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IRA Chief Executive Officer, Kaddunabbi Ibrahim Lubega The regulations that will guide the establishment of Takaful, the kind of insurance that employs Islamic principles for members to contribute money into a pool system to guarantee each other against loss or damage have been submitted to the Ministry of Finance for
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State Minister for Health, Robinah Nabbanja Parliament has unanimously rejected a move by government to withdraw the National Health Insurance Bill, 2019.Robinah Nabbanja, the State Minister for Health announced that the government was withdrawing the bill, moments after the Speaker of Parliament Rebecca Kadaga called for its second reading this
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After the digital session held in December on the topic of “Vaccine Economics, Trade, China and Growth in Africa” with Ludovic Subran, Chief Economist at Allianz SE, Allianz Africa Wednesday held a second webinar on “The Digitization of Agriculture Insurance Through Parametric Solutions” in partnership with Allianz Re. As Allianz
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Minister of state for finance (General Duties), Gabriel Ajedra Aridru (L) hands over the award to Steven Adrapi, Head of Sales and Marketing at ICEA General Insurance Co and Gabriel Kuria (R) CEO ICEA General Insurance.. The Insurance Regulatory Authority Chief Executive Officer, Ibrahim Kaddunabbi Lubega has given a positive
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Bryan Toshi Bwana, the CEO Global Consulting Services illustrating the need for the insurance sector to innovate or perish during the awards gala Insurers have been urged to innovate if they are to remain relevant and in business. The call was made by Bryan Toshi Bwana, the Chief Executive Officer
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Michael Mugabi (R), the Managing Director of Housing Finance Bank receiving the award Housing Finance Bank has been named the most innovative bancassurance agent for the year 2020 at the inaugural Annual Insurance innovation awards held at Serena Hotel Kampala on December 18, 2020. Receiving the accolade, Michael Mugabi, the
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Four years since Bancassurance was first introduced in Uganda as part of the amendments to the Financials Institutions Act 2014, experts say the concept is gaining ground and is expected to greatly impact Insurance penetration. Bancassurance is the selling and distribution of insurance products through banks. Commercial Banks are adopting
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