In a significant move to strengthen Uganda's insurance sector, the Insurance Training College (ITC) has entered into a Memorandum of Understanding (MoU) with Ndejje University. The agreement was officially signed by ITC's CEO, Saul Sseremba, and Rev. Can. Prof. Olivia Nassaka Banja, the Vice Chancellor of Ndejje University, on November 14, 2024, at Ndejje University.
This MoU outlines four key areas of collaboration and is expected to play a crucial role in improving the quality of insurance education in Uganda, providing students with the essential skills and knowledge needed to succeed in the industry.
In his remarks during the signing ceremony, Sseremba emphasized that the MoU marks the beginning of a strategic partnership between ITC, a leading institution for insurance professional training, and Ndejje University, one of Uganda’s most respected academic institutions.
“ITC’s mandate has evolved beyond simply training professionals to actively engaging with young people and students,” Sseremba said. “The College is now focused on enriching curricula at all levels of education by incorporating insurance topics while raising awareness about the importance of insurance in the broader community. This collaboration addresses the increasing demand for skilled insurance professionals in Uganda.”
He also highlighted ITC's significant contribution to the successful inclusion of insurance in Uganda’s O-Level curriculum, where a section was introduced to provide students with a foundational understanding of insurance principles.
Key Areas of Collaboration
Some of the key areas of cooperation under this agreement include;
1. Curriculum Review and Development: The two institutions will collaborate to review, design, and implement specialized insurance curricula, ensuring that students graduate with recognized qualifications and gain a comprehensive understanding of the insurance industry.
2. Establishing an insurance club: The club will act as a hub to nurture and prepare students of Ndejje University for the world of work in the financial services sector by extending training, internships, and opportunities.
3. Certification and Professional Training: ITC will provide professional certification to students of Ndejje University to earn recognized insurance qualifications upon completion of certain courses.
4. Training of Trainers: The institutions will also provide facilitators with the necessary skills to teach effectively and mentor students. This will ensure the continuous availability of qualified instructors, enhancing the quality of insurance education in Uganda.
Dr. Mutumba Geoffrey, Dean of the Faculty of Business Administration and Management, applauded ITC for this initiative, emphasizing that it will be highly beneficial for many students within the Faculty, particularly those enrolled in programs related to insurance. He highlighted that this collaboration offers a significant opportunity for students, who will now have direct access to ITC’s training resources and industry expertise.
He further stated, “As education institutions, it is our responsibility to teach our students the fundamentals of business and finance and emphasize the crucial role that insurance plays in building resilient economies. I am confident our combined efforts will help develop a new generation of skilled professionals who will make meaningful contributions to the insurance industry locally and globally.”
Similarly, the Deputy Principal of ITC, Sylvia Kajubi, noted that while Uganda’s insurance industry has seen steady growth, driven by increased awareness of insurance benefits and rising demand for risk management, there remains a significant shortage of skilled professionals.
“This partnership is a major step towards bridging this gap,” Kajubi said. “By providing quality education, career guidance, and professional development opportunities, we are helping to equip the next generation of insurance experts with the knowledge and tools they need to thrive in this industry.”
Through ongoing collaboration, ITC and Ndejje University are set to make a lasting impact on Uganda's insurance sector, helping to ensure its long-term growth and success.