Uganda’s insurance industry has launched an aggressive campaign that seeks to empower people across the country with the relevant insurance information to boost confidence in the sector and uptake.
Dubbed the Insurance Literacy and Market Development Agenda (ILMDA), the 5-year campaign spearheaded by the Insurance Regulatory Authority of Uganda (IRA), Uganda Insurers Association (UIA) was launched by the Permanent Secretary and Secretary to the Treasury from the Ministry of Finance Planning and Economic Development Mr. Ramathan Ggoobi, represented by Ag. Director Economic Affairs Mr. Moses Kaggwa at Mestil Hotel, Kampala on September 24, 2025. The campaign shall run under the theme, “Insurance for All: Promoting Insurance Literacy and Building Financial Resilience for Inclusive Growth”.
In his speech Mr. Ggoobi, hailed the insurance industry for the initiative, saying it is critical to Uganda’s economic development.
“Insurance underpins our 10-fold growth strategy, from agriculture to industrialisation, building resilience and protection. With stronger literacy, tailored solutions, and deeper rural outreach, we can empower citizens and grow penetration”, he said.
In his keynote address, the IRA Chief Executive Officer, Alhaj Dr. Kaddunabbi Ibrahim Lubega, applauded the industry for the milestone, saying that it will enhance awareness and boost insurance uptake to cushion Ugandans against unforeseen shocks and enable them and their businesses thrive confidently.
He added that despite the evident benefits, insurance uptake in Uganda remains below its potential, with the biggest barrier to uptake being low insurance literacy.
Many Ugandans either do not understand how insurance works or mistrust its mechanisms. Myths, misconceptions, and a lack of clear information have kept millions of our citizens outside the safety net that insurance can provide he said, adding that insurance literacy is not just a strategy but a necessity.
He noted that through the ILMDA, the industry seeks to bridge the knowledge gap, build trust, and empower Ugandans with the information they need to make informed decisions about their financial futures.
The agenda will simplify and demystify insurance, improve trust and attitudes, expand access and uptake and it envisaged that the gross written premium will grow by 20% by 2030. The campaign shall further enhance awareness and public confidence in insurance, promote consumer education and protection, encourage innovation and product relevance, strengthening partnerships among regulators, insurers and development actors and expand access to insurance in underserved regions, including rural and informal sectors.
“This agenda is our strategic tool to drive inclusion and resilience by putting people at the centre of our regulatory and developmental efforts,” he said.
The Africa Reinsurance (Africa Re) Regional Director, Dr. Phocas Nyandwi, underscored insurance as a key driver of market development across Africa.”With greater literacy, we can break more barriers,” he said.
He reaffirmed Africa Re’s support towards the success of ILMDA and urged the industry to design the right products and simplify claims payment processes to expand access and impact.
The Uganda Insurers Association (UIA) Vice Chairman, Mr. Paul Muwanga, emphasized that insurance literacy and market development are inseparable in building a stronger sector.
“This agenda is more than a strategy. It is a call to action to improve service quality, expand distribution networks and grow insurance penetration.” he said.
He commended the technical committee’s collaborative spirit and urged all stakeholders to strengthen partnerships and make firm commitments to realize this shared vision.
During a panel discussion on “Advancing Inclusive Finance through Insurance”, Dr. Bob Munene, Assistant Commissioner at the Finance Ministry emphasized the need for the insurance sector to develop tools that safeguard farms and also focus on government-backed initiatives.
He highlighted the importance of tax-free programs and tailored policies for small-scale farmers, especially in high-risk areas.
The United Nations Development Programme’s National Project Coordinator, Atiku Bran pressed for learning from past challenges to design innovative products that clearly demonstrate value, especially against climate and disaster risks.
The Financial Sector Deepening Uganda Programs Director, Mr. Joseph Lutwama highlighted coverage gaps among low-income earners and called for new, inclusive models that stabilize supply chains.
IRA’s Director Strategy and Market Development, Mr. Protazio Sande stressed the need for repackaging insurance to improve efficiency, sustainability, and consumer appeal.
The Bank of Uganda Deputy Director of National Payment Systems, Mr. Alex Ochan, highlighted the need for empowering the workforce to create a pool of skilled professionals to strengthen the sector’s impact and effectiveness.
