Ramathan Ggoobi speaking at the Old Mutual rebranding eventThe Permanent Secretary, Ministry of Finance, Planning and Economic Development, Ramathan Ggoobi, has commended Old Mutual for supporting financial wellness in Uganda.On Wednesday, UAP Old Mutual officially rebranded to Old Mutual, marking an exciting new chapter for the business in Uganda. The transition is part of a Group-wide rebrand that unifies all operations across Africa under one trusted and recognisable brand – Old Mutual.Speaking as Chief Guest, Ggoobi said: “I would like to start by congratulating Old Mutual Uganda on this transition and key milestone. I commend Old Mutual for its business resilience and serving customers for over 180 years. Today, we celebrate Old Mutual‘s strides to empower Ugandans towards financial wellness and overall economic growth. I also commend Old Mutual on their journey to support financial wellness in Uganda.”“The Ministry of finance appreciates Old Mutual’s efforts of supporting inclusive growth for all Uganda and looks forward to collaborating,” Ggoobi, who’s also the Secretary to Treasury, said..According to Ggoobi, one of the key ambitions under this strategy is to double the level of savings in the economy from 20% GDP in 2022 to 40% GDP in 2024, to match the required level of investment (40% of GDP).To this, he appreciated Old Mutual’s efforts in contributing towards Uganda’s economic transformation through the life assurance business that offers savings solutions and the investment group business that offers solutions such as the unit trusts.Uganda has developed a tenfold growth strategy, a blueprint for rapidly expanding Uganda’s economy in a transformative, sustainable and inclusive manner. The tenfold strategy also frames an action agenda that will propel growth through industries such as the oil and gas sector and uninterrupted and affordable electricity suppliers.According to Ggoobi, the strategic target is to expand the country’s GDP from nearly USD 50 billion (2023) to USD 500 billion (2024).He acknowledged the fact that Old Mutual is protecting national assets as the business is the lead insurer for the Insurance Consortium of Oil and Gas Uganda (ICOGU) and insures major hydro power plants that supply electricity to Ugandans such as Karuma and Isimba.Old Mutual East Africa Group CEO, Arthur Oginga said that “this rebrand will strengthen our business, enabling us to leverage more synergies across the continent, backed by Old Mutual’s 180-year heritage.”“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.” “Through this rebrand, and with the scale and expertise of the Old Mutual Group, we are excited to strengthen our role as a trusted financial partner in Uganda. A new chapter of financial wellness truly begins today with Old Mutual,” Oginga added.Industry stakeholders in a group photo with Old Mutual officialsZaccheus Kisesi, the Investment Group Managing Director added, “For our customers and partners, this rebrand does not change the value, trust, or service you have always received from us. What it does is give us a renewed focus on you, ensuring that your financial goals remain at the heart of everything we do. This is your assurance that while our name has changed, our commitment to you remains the same.”The rebrand is a significant step for Old Mutual in East Africa, where operations were previously run under a joint venture -UAP Old Mutual. Old Mutual acquired UAP in 2015 and has since been consolidating its brand footprint across the region, beginning with Rwanda in 2021, Kenya in 2023, and now Uganda in 2025.Old Mutual Uganda has invested heavily in digital innovation to enhance customer experience and accessibility. The company has implemented integrated digital self-service platforms, mobile-first insurance solutions, and online investment tools designed to make financial planning simpler, faster, and more convenient. These are across web, USSD and mobile applications. Some of the digital access products include motor comprehensive, travel, Somesa, travel, sure deal, Unit trust client portals among others. Old Mutual also recently invested in a private wealth solution to provide high-net-worth clients with personalized, tech-enabled investment management and advisory services, giving them real-time visibility, control, and convenience in managing their portfolios.These advancements reflect Old Mutual’s commitment to meeting the evolving needs of today’s customers and supporting Uganda’s transition toward a more connected and inclusive financial ecosystem.Old Mutual also reaffirmed its long-term commitment to Uganda, continuing to invest in the country through strong distribution networks, deep-rooted local partnerships, and financial stability anchored in prioritized local shareholding.Over recent years, Old Mutual Uganda has built strong capabilities across insurance and investment, including the leading Unit Trust product in Uganda, and the first USD Unit Trust offering in the market; A comprehensive portfolio including Pensions, Alternative Investments (Private Wealth), and Brokerage Services, and leadership in insuring strategic national projects such as the Kingfisher Development Area, Tilenga Oil & Gas, and the East Africa Crude Oil Pipeline through the Insurance Consortium of Oil and Gas Uganda (ICOGU).The post PS Ggoobi Commends Old Mutual For Supporting Financial Wellness In Uganda appeared first on Business Focus.