I&M Capital Limited has officially commenced operations in Uganda, expanding the I&M Group’s presence in the country’s investment and wealth management sector.
The company was launched on Thursday, August 13, 2026, at Kampala Serena Hotel, with executives from I&M Group, I&M Capital and I&M Bank joining customers, regulators and other players in the financial services industry.
I&M Capital, an investment and wealth management company under I&M Group PLC, will provide individuals, businesses and institutions with services aimed at managing, growing and diversifying their wealth.
Its offerings include portfolio management and investment advisory, money market investments, government securities, equities and offshore investments.
The company was licensed by the Capital Markets Authority (CMA) in November 2025 to operate as a fund manager, allowing it to participate in Uganda’s capital markets.
I&M Capital CEO Silas Ngumi Mutuku said the company sees significant potential in Uganda, citing the country’s growing economy, expanding professional class and increasing number of entrepreneurs seeking investment opportunities beyond traditional savings.
“Quite simply, we see the exact same opportunity that inspired us when we started I&M Capital in Kenya; a growing economy, a young and increasingly sophisticated professional population, entrepreneurs building businesses and a growing number of people who want to move beyond simply saving and start investing more deliberately for their future,” Mutuku said.
He said the company intends to support customers throughout different stages of their financial lives, including career development, business growth, wealth accumulation and succession planning.
“We want to be there as a young professional builds a career, as an entrepreneur builds a business, as a family grows and as wealth is accumulated, diversified and ultimately passed on to the next generation. We also want to play our part in building a stronger culture of investment and financial literacy in Uganda,” he said.
I&M Bank CEO Robin Bairstow said the entry of I&M Capital responds to growing demand from customers for financial solutions that go beyond conventional banking services.
“Customers are asking new questions. How do I grow my wealth? How do I diversify my investments? How do I preserve what I have worked hard to build? How do I create long-term value for my family, my business and future generations? I&M Capital is positioned to help answer all these questions,” Bairstow said.
He said I&M Capital will complement the bank’s existing services rather than replace them.
“Together, our banking and investment capabilities create a more complete financial ecosystem, allowing us, as the I&M Group, to support customers at every stage of their financial journey,” Bairstow said.
The launch featured a fireside discussion hosted by I&M Capital Country Manager Uganda Philip Musinguzi, with I&M Bank Uganda Board Chairman Francis Kamulegeya.
Kamulegeya said effective wealth management requires investors to balance liquidity, risk protection and the transfer of assets between generations.
“Whether managing Shs100 million or Shs1 billion, effective wealth management requires balancing liquidity, risk protection and multi-generational transfer,” he said.
He added that younger generations are increasingly viewing inheritance differently, with growing interest in financial assets that provide liquidity and flexibility instead of relying solely on land, property and other physical assets.
The Capital Markets Authority welcomed the entry of I&M Capital, noting the growing importance of Uganda’s capital markets in mobilising long-term financing.
CMA Market Supervisor Denis Kizito said capital markets provide avenues for transforming savings into equity, corporate debt, infrastructure financing, collective investment schemes, real estate investment vehicles and other forms of long-term capital.
“The entry of I&M Capital into the market further strengthens this ecosystem,” Kizito said.
I&M Bank Uganda Head of Marketing and Corporate Communications Annette Nakiyaga said the launch will give customers greater access to investment opportunities and professional wealth management services.
“Through I&M Capital, we are expanding the solutions available to customers and opening up greater opportunities for them to participate in Uganda’s growing investment landscape, supported by professional expertise and the strength of the I&M Group,” Nakiyaga said.
The launch comes amid significant growth in Uganda’s capital markets.
According to CMA figures, domestic market capitalisation increased from Shs4.33 trillion in June 2021 to Shs21.77 trillion in March 2026.
Over the same period, assets under management in Collective Investment Schemes increased from Shs731 billion to Shs6.02 trillion, while funded investor accounts rose from approximately 29,000 to more than 220,000.
The growth reflects increasing participation in investment products and the expanding role of Uganda’s capital markets in mobilising long-term capital for the economy.
