KAMPALA— Old Mutual Investment Group (OMIG) Uganda is set to introduce new products, including Real Estate Investment Trusts (REITs) and other alternative assets, as part of a strategic plan to double its assets under management within the next three years.
The firm’s Board Chair, Richard Byarugaba, announced the plan at the company’s Agents Half-Year Awards and Recognition event at Hotel Africana in Kampala, where he celebrated OMIG’s market dominance. As of the end of March, the company’s total assets under management reached UGX 2.8 trillion, controlling 67% of Uganda’s collective investment schemes.
Byarugaba stated that the company will not take its market leadership for granted. To maintain its dominant position and achieve its ambitious growth target, OMIG’s strategy will center on continued innovation and empowering its agents, whom he called the “heartbeat of the organization,” with the necessary digital tools and training.
“We will soon introduce new products in alternative assets, such as real estate and real estate investment trusts,” Byarugaba said. These new offerings are designed to provide customers seeking long-term savings and wealth creation with more diverse options beyond the company’s current fixed-income and equity products. Byarugaba expressed confidence that OMIG will become a major contributor to Uganda’s $42 billion GDP.
The event, which took place against the backdrop of steady economic growth with the nation’s GDP expanding by 6.06% in the last financial year, also featured comments from OMIG’s Managing Director, Zac Kisesi.
Kisesi credited the rapid growth of the firm’s unit trust funds to its investment advisors and a commitment to financial education. He revealed that the company’s dollar-denominated unit trust fund has soared from just $24 million a year ago to more than $7 billion today, a surge he attributed primarily to the excellent customer service provided by the advisors.
