Uganda Insurance Association scoops business award

By Mark Owor

The Uganda Insurance Association (UIA) has won the fourth annual Private Sector Foundation Uganda Development Association award for the third time.

UIA is an umbrella organization of insurance companies to advance interests of the insurance and reinsurance companies licensed in Uganda.

“UIA has been recognized as the national overall winner of the association of the 2011 because of its efforts to uphold and transform the insurance industry through imparting business ethics and appropriate code of conduct”, said PSFU Director Membership Service, Ruth Musoke.

The annual award which has been running for the last four years, aims to recognize the role that business associations play in strengthening the competitiveness of businesses in Uganda.

“We are very happy for winning the award. We thank those who voted for us and promise to continue serving the country,” UIA Chairman Deepak Pandey said soon after the company’s victory was announced at a gala at Serena Hotel.

In the 2011 edition, PSFU in partnership with Bernard Leer Foundation Netherlands introduced the Children Welfare Corporate Social Responsibility (CSR) award category which recognizes child-friendly businesses that invest in health, nutrition, learning and safety of young children below eight years.

The CSR Category was won by MTN Uganda followed by Century Bottling Company and Orange Uganda respectively, among others.

“This additional category was a deliberate move to promote and advocate for children welfare programs within the private sector activities in Uganda and MTN demonstrated the most outstanding in all its projects we visited ”, Musoke added.

The Associations of the Year Award is aimed at promoting good governance, excellent association management and best leadership practices with the Business Association Sector in Uganda.

First runner-up in the National Category was Uganda Community Tourism Association (UCOTA) and Uganda Small Scale Industry LTD Association (USSIA) was second runner-up.

 UN Staff SACCO won overall in the central region while the Western award went to Hoima District Famers Association. Adyaka Rural Youth Development topped in the Northern region as the Eastern region award was secured by Kapchorwa Commercial Farmers Association.

The finance minister Maria Kiwanuka, in her speech read by her deputy Fred Omach, thanked PSFU for mobilizing the private sector to participate in poverty reduction efforts through investment, job creation, productivity and output.

He said that Government shares the view that Uganda’s enterprises must increasingly engage in economic activities that lead to sustained growth for development and improving the standard of living for Ugandans.

He added that Uganda must develop strategies to transform the largely informal and small private sector into a modern economy.