Britam Insurance Company (Uganda) Ltd last evening unveiled their new offices located in the prestigious Nakasero suburb in Kampala.
The offices, which were acquired from AIG, will host both Britam Insurance Company (Uganda) Ltd- the insurance arm of Britam Holdings Limited and Britam Asset Managers Company (Uganda) Ltd.
Britam Asset Managers (Uganda) offers investment management and advisory services to pension funds, insurance companies, corporates, government owned entities and retail investors. The company was launched on 27th July, 2017.
Speaking during the official unveiling of the offices at Britam offices, Nakasero Kampala, Mr. Allan Mafabi, the Chief Executive Officer, Britam Insurance- Uganda, said; “We are excited about our new spacious offices, which gives us an opportunity to serve our customers better and offer the full range of diversified financial services to our customers under one roof,”
Mr. Allan Mafabi, the CEO, Britam Insurance (Uganda) said the investment in the new offices was a reflection of the group’s commitment to the Uganda market, and was meant to offer convenience and comfort to the customers.
“Uganda is a key strategic region for the group as it expands its product offerings in the region. We will continue to strengthen our operations in the country in a bid to generate more employment opportunities for the benefit of the citizens,” Dr. Benson Wairegi said.
He said that Britam, which entered the Uganda’s insurance market in November 2010, has since grown to become the number three biggest insurer by premiums out of the 21 insurance companies operating in Uganda.
Dr. Benson Wairegi, the Group Managing Director, said Britam would continue to further invest in the Uganda market because of its great potential made possible by a conducive business operating environment.
“Over and above our recent opening of an asset management company in Uganda, we are considering opening a property division as well in order to bridge the property and real estate gap in the country,” he said.
He noted that Britam had continued to attract global investors, among them the International Finance Corporation (IFC), the investment arm of the World Bank, and AfricInvest, one of the largest private equity funds in the world. The investments, he said, demonstrated confidence in the long-term future of the company.
Dr.Benson Wairegi also thanked the Uganda government, and the relevant industry regulators for fostering a favourable business operating environment that had enabled private business from Kenya to thrive in the country in the true spirit of East African Co-operation.
He further lauded the Ministry of Financial Planning and Economic Development (MoFPED) and Bank of Uganda (BoU), for launching The National Financial Inclusion Strategy (NFIS) 2017-2022 that among other things was focused on reducing financial exclusion and barriers to accessing financial services, whilst deepening and broadening formal savings, investments and insurance use.
