On June 23rd, the Insurance Training College (ITC) and the Actuarial Academy of East Africa (AAEA) signed a Memorandum of Understanding (MOU), formalising a partnership that seeks to bridge the actuarial skills gap and strengthen Uganda's financial and insurance sectors. 

This collaboration promises to deliver global-standard training, professional exam support, knowledge sharing forums, mentorship, and certification support to Ugandan students and professionals. The MOU establishes a framework for building local capacity, aligning academic programmes with international standards, and creating pathways for Ugandan actuarial talent to thrive globally.

Through this partnership, ITC will benefit from AAEA's expertise and resources, including technical support, access to experienced trainers, mentorship networks, and high-quality examination materials. This knowledge exchange will enhance the delivery of actuarial education and ensure that students are equipped with relevant, up-to-date skills. Additionally, the partnership will position ITC to work towards becoming a recognized actuarial training and examination centre under international professional bodies.

The collaboration also introduces structured support systems for students, including sponsorships for registration fees, study resources, and access to mentorship programs. This aligns with ITC's broader mandate to support professional development across the financial services sector and demonstrates a strong commitment to innovation, relevance, and excellence in training.

By leveraging AAEA's regional footprint and ITC's institutional strength, the partnership sets the stage for Uganda to emerge as a key player in actuarial science and risk management in Africa. As implementation of the MOU begins, both institutions will roll out a series of joint activities, including training programs, mentorship initiatives, and accreditation processes. Stay tuned for more updates in the coming weeks!