UAP Old Mutual showcased a year of exceptional performance at its Annual General Meeting, with key stakeholders highlighting robust growth, regulatory compliance, and strategic innovations aimed at strengthening Uganda’s financial sector.
Chairperson of the Unit Trust Holders, Mr. Kihuguru Geoffrey, opened proceedings by attributing the firm’s success to Uganda’s macroeconomic resilience and disciplined strategy.
The country’s GDP grew by 6.06% in 2024, while Old Mutual’s assets under management surged by 43% to UGX 2.4 trillion. Over 20,000 new unit holders joined the firm’s funds, signaling rising investor confidence. “Our focus remains on capital preservation, consistent returns, and fostering an inclusive financial future,” Kihuguru stated.
Independent auditors KPMG, represented by Mr. Stephen Ineget, confirmed that Old Mutual’s 2024 financial statements were fully compliant with IFRS and Capital Markets Authority (CMA) regulations. The audit revealed no material issues, with client funds properly segregated and securities accurately documented. “This clean audit underscores our operational integrity,” Ineget noted.
Ms. Roselyn Ochola of Standard Chartered Bank, Trustee for the UGX Unit Trust Fund, reiterated her institution’s commitment to safeguarding investor assets and ensuring regulatory compliance.
Similarly, Mr. Patrick Sewanyana of KCB Uganda, Trustee for the Dollar Fund, reported that the fund’s value tripled to over USD 39 million, driven by disciplined global fixed-income strategies.
Managing Director Mr. Zac Kisesi also unveiled Old Mutual’s new Private Wealth service, designed for high-net-worth clients seeking bespoke legacy planning. “Preserving wealth across generations requires deliberate, tailored solutions,” Kisesi explained. The service integrates fiduciary structures with personalized financial planning, reinforcing Old Mutual’s role as a trusted long-term partner.
With strong growth, regulatory endorsements, and innovative offerings, Old Mutual is poised to further solidify its leadership in Uganda’s financial sector in 2025.