Uganda: Britam Uganda Won't Exit the Market

25 January 2023
The Independent (Kampala)

Kampala, Uganda — Britam Insurance Company (Uganda) Limited and Britam Asset Managers Company (Uganda) Limited executives have said, the company does not have any plans to exit the Ugandan market.

This follows recent media reports about a possibility of the company exiting Uganda. "Britam Uganda is now looking at growing its revenue streams even further by considering additional product offerings such as entry into the Life Insurance Market," said Tom Gitogo, the Britam Group MD.

Britam has a presence in seven countries (Uganda, Kenya, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi) and is looking at entering into other countries in the region with a promising growth trajectory as appropriate.

Gitogo added: "We have noted baseless rumours about a potential exit of the company from the Ugandan. Britam Uganda, through its holding company Britam Holdings PLC would like to reiterate its commitment to staying in and growing within the markets it operates.

With this, Britam Uganda would like to categorically state that the company does not have any intentions of leaving the Ugandan General Insurance and Asset Management sectors. The company is in the 3rd year of its 5 year (2021-2025) Transformational Strategy that focusses on customer centricity and exceeding value delivery to its clients and partners."

Read the original article on Independent (Kampala).

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