UAP Old Mutual has officially rebranded to Old Mutual as part of a Group-wide strategy to unify all operations across Africa under one trusted and recognisable brand in Uganda and beyond.
The recent rebrand marks a significant step for Old Mutual in East Africa, completing the consolidation of its brand footprint—which began after the 2015 acquisition of UAP—by moving away from the former UAP Old Mutual joint venture name in Uganda, following similar moves in Rwanda (2021) and Kenya (2023).
Speaking as the keynote speaker at the company’s official rebrand dinner held at the Kampala Serena Hotel, the Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, applauded Old Mutual Uganda for its resilience, innovation, and continued contribution to the country’s economic transformation.
Ggoobi commended the insurer’s role in expanding financial services and protecting national assets through its life assurance, investment, and general insurance businesses. “I commend Old Mutual for its business resilience and for serving customers for over 180 years. Today, we celebrate Old Mutual’s strides to empower Ugandans toward financial wellness and overall economic growth.”
Ggoobi noted that Uganda’s economy continues to show strong fundamentals, with positive progress on poverty reduction and investor confidence.
“Uganda was ranked 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,” he said. “Additionally, Uganda has met the United Nations’ criteria for graduation from the Least Developed Countries category — a momentous achievement that signals readiness for economic transformation.”
He highlighted that Uganda’s poverty rate had dropped from 21% in 2022 to 16% in 2024, attributing this progress to sound fiscal reforms and inclusive growth strategies. However, he cautioned that more interventions were still needed to ensure equitable development.
Outlining the government’s vision under the Tenfold Growth Strategy, Ggoobi said Uganda aims to expand its GDP from USD 50 billion in 2023 to USD 500 billion, with an emphasis on local value addition, innovation, and sustainable industrialisation.
“One of the key ambitions under this strategy is to double the level of savings in the economy from 20% of GDP in 2022 to 40% of GDP in 2024,” he explained. “We appreciate Old Mutual’s efforts in contributing towards Uganda’s economic transformation through life assurance and investment solutions such as unit trusts.”
He further lauded Old Mutual’s involvement in strategic national projects, including its leadership role in the Insurance Consortium of Oil and Gas Uganda (ICOGU), which covers key energy installations like Karuma and Isimba hydropower plants.
“Old Mutual is protecting national assets,” Ggoobi said. “The Ministry of Finance appreciates your efforts in supporting inclusive growth for all Ugandans and looks forward to continued collaboration.”
New Chapter of Financial Wellness
Arthur Oginga, CEO of Old Mutual East Africa Group, said the transition represented more than a name change — it signalled a renewed focus on delivering integrated financial solutions for individuals, businesses, and communities.
“We believe this rebrand will strengthen our business, enabling us to leverage more synergies across the continent,” Oginga said. “With this rebrand, we are renewing our promise to help customers and communities achieve their lifetime financial goals while unlocking new possibilities for financial wellness.”
Zaccheus Kisesi, Managing Director of Old Mutual Investment Group, reassured clients that the company’s values, service quality, and customer-centric focus remain unchanged. “This rebrand does not change the value, trust, or service you have always received from us,” Kisesi said. “It gives us a renewed focus on you — ensuring your financial goals remain at the heart of everything we do.”
Alhaj Kaddunabbi Ibrahim Lubega, CEO of the Insurance Regulatory Authority, praised Old Mutual’s commitment to digital innovation, professional training, and environmental sustainability. “Old Mutual has stood the test of time, demonstrating resilience and excellence,” he said. “Its ISO certification and A+ credit rating reflect its dedication to quality, innovation, and responsible growth.”
Josephine Okui Ossiya, CEO of the Capital Markets Authority, commended Old Mutual for deepening Uganda’s investment landscape through unit trusts and private wealth products that empower both institutional and retail investors.
Stephen Chikovore, Managing Director of Old Mutual Insurance Uganda, said this gesture symbolised the company’s commitment to nurturing growth and resilience within Uganda. “Just as trees take root and grow strong, we are deepening our roots in Africa — serving communities, protecting livelihoods, and empowering financial wellness,” Chikovore remarked.
Old Mutual Uganda has significantly invested in digital innovation across web, USSD, and mobile applications to radically enhance customer experience, offering integrated self-service platforms, mobile-first insurance, and a new private wealth solution for high-net-worth clients that provides personalised, tech-enabled investment management.
