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Uganda Report
Marcopolis presents the Uganda Report focused on topics such as economy, investments and doing business, featuring interviews with Uganda's leaders. The sectors under review in this issue are agriculture & agribusiness, health & pharma, hospitality & tourism, industry, insurance, mining & petroleum, services and many more.
VideosJanuary 29, 2020
Minet: Qualitative Risk Management and Insurance Consulting in Uganda and Beyond
- Written by Sandra Francisco
- Published: January 29, 2020
Maurice Amogola, CEO of Minet Uganda, presents Minet, one of the leading local insurance brokers both in Uganda and in the region.
"We have been in the Ugandan market since 1954. We are proud to have over 60 years in the market. We have gone through various mergers and acquisitions. For over ten years, we worked under the Aon Corporation brand. Aon Corporation then decided to pull out of Africa and sold the business to Minet. Minet is now represented in 10 African countries. By virtue that we are the largest correspondent of Aon in Africa, we do a lot of work for those clients in Africa as well as local corporates and many individuals that would like to have qualitative risk management and insurance consulting here in Uganda and beyond. We are among the leading local insurance brokers both in Uganda and in the region", says Maurice Amogola.
"We have just started agricultural insurance which poses a lot of potential for growth because Uganda is an agricultural economy. The challenge we have is to get people to accept insurance as a very strategic partner towards their business in agriculture. We have a lot of potential in oil and gas. Once the final investment decision is done, we expect that about 20 billion dollars’ worth of investment will pour into Uganda. This will bring opportunities to people in banking, insurance, contractors. Among the 20 billion dollars’ worth of investment, there will be a pipeline, a refinery, a holding facility. A major international airport is being developed in western Uganda so aviation will also be a very significant part of this investment. The potential for investment carries on along these major investment opportunities. In mining, we have a lot of iron ore deposits, cobalt deposits, and all these are opportunities that any potential investors can look forward to investing in. For insurance to make money and for us as insurance consultants to make money, we rely on a lot of investors coming into the country to put up manufacturing plants and to exploit the mineral potential. We have a lot of gold and very soon a number of companies will be licensed to start mining it as well", he adds.
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