May 2019

21May

Alexander Forbes announces retreat from Uganda

Alexander Forbes Financial Services Ltd said it is exiting Uganda, part of a parent company strategic review to focus on core businesses in its primary market and reset its pan-African operations.The reset of operations outside South Africa, its primary market, will see the financial services group exit “sub-scale markets such as Uganda,” Alexander Forbes Group Holdings Ltd. said in a regulatory announcement on the Johannesburg Stock Exchange in March.“The company is committed to an orderly exit from Uganda and...

May 21, 2019
News, Slider
Read more...

March 2019

05Mar

Kenya’s pension firm enters Uganda’s market

A new pension administrator, Enwealth Financial Services, has entered Uganda’s pension market upon securing an operation license from the regulator, Uganda Retirement Benefits Regulatory Authority (URBRA). The firm that joins nine other pension administrators in the country plans to offer pension retirement services, training and consultancy services. Founded in 2011 in Kenya, it currently manages pension assets worth over Shs2trillion for 120 clients in 12 countries within Africa. Nelson Kuria, the company’s chairman Board of Directors said at the...

March 5, 2019
News, Slider, ,
Read more...

February 2019

22Feb

Pensions manager opens Uganda office

Local pensions manager Enwealth has started operations in Uganda where the firm plans to tap into the underserved small and medium enterprises (SME) sector. Following licensing by the Uganda Retirement Benefits Regulatory Authority (URBRA), the Kenyan company now joins nine other pension administrators serving the country's population. The firm’s expansion drives comes in the wake of ongoing reform agenda to liberalise the pensions sector in Uganda and broaden the coverage of pension schemes in the neighbouring country. Currently only...

February 22, 2019
News, Slider,
Read more...

July 2017

06Jul

Why Uganda should continue with pension sector reform

  The roadmap for reform of Uganda’s pension sector was drawn more than a decade ago. In 2003, the Minister of Gender, Labour and Social Development constituted the Stakeholders Transition Group (STG) to assist the Government with the development of a comprehensive legal, regulatory and financing framework for social security reforms. Following the STG recommendations another taskforce was established, the Pension Sector Reform Task Force, Chaired by Ministry of Finance, Planning and Economic Development (MOFPED). The main role of this task...

July 6, 2017
News, OP Ed, Slider
Read more...

April 2017
19Apr

Uganda: Reforms – Will Pensioners Benefit From NSSF’s Loss of Monopoly?

The Finance Committee of Parliament has been receiving views on the proposed plans to liberalise the pension sector in Uganda. And what has been the dominant topic is ending the monopoly of the National Social Security Fund (NSSF). Indeed, a closer look at the Liberalisation Bill, there is a clause that recommends the repeal of the NSSF Act. Among the many things faulted in the country's economy is the low level of domestic savings. The low savings have been blamed for...

April 19, 2017
News, OP Ed
Read more...
18Apr

“Pension tax could discourage savings” Interview with Stanlib Uganda’s General Manager

What are the key elements in your management philosophy as a manager? A managerial role normally comes with responsibilities over the operations of the entire company and you cannot do things on your own. It is a team effort. I work with experts in the various departments to ensure that the company meets its goals. What is your assessment of fund and investment management in Uganda? We have been in Uganda since 2001 although handling mostly institutional or large scale investment management....

April 18, 2017
News
Read more...