KAMPALA – Standard Chartered Bank Uganda and Prudential Uganda have announced a groundbreaking partnership aimed at expanding financial inclusion and providing comprehensive financial security solutions to customers.
This collaboration combines the banking expertise of Standard Chartered with Prudential’s insurance prowess, enabling customers to access a range of financial protection solutions.
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“We are excited to partner with Standard Chartered Bank to deliver holistic financial solutions that empower their clients with enhanced financial security,” said Tetteh Ayitevie, CEO of Prudential Uganda. “Together, we are committed to ensuring that individuals and businesses have access to the long-term protection they need to secure their futures.”
Sanjay Rughani, CEO of Standard Chartered Bank Uganda, emphasized the importance of strategic collaborations. “As Standard Chartered, we are honored to enter into this partnership with Prudential and remain committed to creating partnerships that enhance the local financial sector’s proposition and infrastructure, improve customer experience, and boost operational efficiencies,” he said.
Rughani added, “Private sector partnerships like this are crucial as they allow institutions to learn from one another, share evidence and experiences, and promote modernized and structured products and solutions needed in a modern 21st-century economy.”
The partnership will leverage the global expertise and local knowledge of both organizations to address the evolving financial needs of Ugandans. Standard Chartered Bank’s clients will soon have access to Prudential Uganda’s tailored insurance solutions, integrating banking and insurance services for convenient financial management.
Emmanuel Mokobi, CEO of Prudential Africa, noted, “Partnering with Standard Chartered Bank allows us to provide their clients in Uganda with convenient access to world-class financial protection products. Our shared vision is to create a more financially inclusive environment, offering tailored solutions that meet the diverse needs of customers and help them achieve their ambitions.”
The bancassurance sector in Uganda has experienced significant growth, with gross written premiums increasing from UGX 83 billion in 2020 to over UGX 170 billion in 2023. This partnership is poised to contribute to the sector’s continued growth, offering customers an integrated financial protection and security experience.
The collaboration underscores the commitment of both organizations to delivering exceptional value to clients and promoting financial well-being in Uganda.
