The Insurance Training College (ITC) hosted this year’s Insurance Post-Budget Forum at the Mestil Hotel, Kampala, bringing together leading voices from insurance, banking, finance, and public policy to reflect on Uganda’s 2025/26 National Budget. With the theme “Full Monetization of Uganda's Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access,” the forum provided a timely platform to explore the budget’s implications and the critical role of insurance in advancing national development.
In his keynote address, Prof. Samuel Sejjaaka, Principal at Mat Abacus Business School, unpacked Uganda’s current fiscal position, expressing concern over the rising public debt and its potential to limit investments in essential areas like health, education, infrastructure—and financial services, including insurance.
“Uganda’s rising debt burden—now at 46.8% of GDP—is tightening economic space. With nearly 40% of our domestic revenue going toward debt servicing, there’s limited room left for investments in critical sectors,” said Dr. Sejjaaka.
He urged participants to look beyond figures and consider the real-world implications for the financial services sector, stressing the need for thoughtful planning and strategic partnerships to drive resilience and growth.
Representing the CEO of the Insurance Regulatory Authority (IRA), Edward Kasaato, reflected on the budget theme and stressed that strategic planning will be key to successful implementation. He noted that “turning ambition into action will require strong collaboration across sectors. In the insurance industry, developing tailored products and robust risk mitigation tools will be essential to support growth in agriculture, industry, and digital trade—key pillars of this year’s budget.”
He reaffirmed that insurance remains a cornerstone in protecting investments, enabling enterprise, and supporting inclusive economic growth.
Saul Sseremba, the CEO of ITC, echoed this perspective, noting that the College’s role goes beyond technical training. “We are committed to fostering discussions that inform decision-making,” he stated, highlighting the importance of forums like these in shaping both policy and practice. For ITC, the Insurance Post-Budget Forum is part of a broader effort to position insurance as a driver of resilience and transformation in Uganda’s economy.
The forum concluded with a panel discussion chaired by Racheal Naggayi, Chief Financial Officer at Uganda Re. The discussion focused on budget inclusivity and how the insurance sector can respond to national priorities. Robin Bairstow, CEO of I&M Bank Uganda, shared insights on how the budget acts as an enabler for the banking sector, citing growing opportunities in broadened services, like industrialization and commercial agriculture, all of which offer potential for partnership with the insurance industry.
Panelists also addressed ways to make insurance more accessible, including strategies to reduce premium rates and expand coverage to underserved markets. Environmental, Social & Governance (ESG) principles were a central topic, with panelists calling for more sustainable and socially conscious insurance products that address emerging risks like climate change.
The Insurance Post-Budget Forum 2025/26 reinforced the sector’s essential role in building an inclusive, resilient economy. As Uganda turns its budget into action, insurance will remain a vital enabler, offering protection, promoting investment, and helping the country navigate its path toward sustainable development