Old Mutual Investment Group (OMIG) Uganda’s new board chairperson, Richard Byarugaba, has outlined a bold vision to consolidate the firm’s market leadership and position it as the most trusted investment partner in Uganda.
Speaking on Wednesday in Kampala, Byarugaba said Uganda’s collective investment and savings sector is expanding rapidly, and Old Mutual is well placed to harness this growth through innovation, efficiency, and a strong distribution network.
“The fastest-growing industry in Uganda is collective investments and collective savings. If you look at any town, you’ll find local savings societies. The government has also been very keen on the Parish Development Model, which deals with predictive savings. We believe that the unit trusts offered by Old Mutual are a winning product for this environment,” he said.
Byarugaba emphasized that his vision is anchored on trust, innovation, and service excellence.
“My vision is simple: to position Old Mutual as the most trusted investment partner in Uganda. We will achieve this by delivering innovative solutions that meet real needs, putting the customer at the center of every decision, and building long-lasting relationships based on trust and service excellence,” he explained.
He noted that every customer interaction must inspire confidence in the brand while strengthening loyalty.
“Customers love us because we understand their needs and we are able to deliver. We have a very good network of agents, a strong distribution system, and we are both electronic and digital. This allows us to continue offering the promise of savings to our customers,” he said.
A critical part of his strategy is empowering Old Mutual’s teams and agents. Byarugaba pledged continued investment in digital tools, training, and supportive workplace culture to enable staff to thrive. “When we empower our people, we empower the entire organization,” he stressed.
The new chair also revealed that Old Mutual is preparing to launch fresh products in alternative assets such as real estate and real estate investment trusts (REITs), in addition to its current fixed-income and equity products.
“This will give customers who want to make long-term savings and grow their wealth the opportunity to consume different products that serve their purpose,” he added.
Byarugaba praised the company’s top-performing agents and unit managers, saying their success demonstrated the strength of Old Mutual’s brand and the importance of teamwork. “Recognition isn’t just about applause — it’s about pride, belonging, and motivation. It reinforces our values of accountability and excellence,” he said.
Looking ahead, Byarugaba predicted that Old Mutual will not only maintain its number-one position but also significantly increase its economic contribution.
“We will remain number one. I believe we will be a major contributor to Uganda’s GDP. We aim to double our assets under management within the next two to three years,” he declared.
With his roadmap, Byarugaba is positioning Old Mutual not only as a market leader but also as a driver of national growth, channeling collective savings into investments that fuel Uganda’s economy
