After eight years, Makerere University Kampala, Uganda, has more than 300 graduates in actuarial science. These graduates are preferred to those graduating in statistics, economics or accounting by Ugandan employers in banking, insurance and pensions due to the broad nature of the actuarial degree.
The Actuarial Association of Uganda (TAAU) is the umbrella organisation for actuarial science in Uganda and is working to gain relevance in a range of sectors by contributing to policies that will benefit the country.
TAAU has submitted valuable advice to government and regulators in regard to the Pensions Liberalisation Bill, which is a major change for the country. Input by TAAU has been recognised by industry regulators and stakeholders like the Insurance Regulatory Authority, Uganda Retirement Benefits Authority, Insurance Institute of Uganda and Uganda Insurers Association.
TAAU members are pursuing the Institute and Faculty of Actuaries exams and currently have two members who have completed the CT exams. These members serve to encourage the younger students through talks at the university and various TAAU activities.
TAAU is working with various international actuarial associations to begin mentorship programmes and organise tutorials and seminars to promote the profession in Uganda.
With TAAU at the helm of promoting the actuarial profession, Uganda will have a great wealth of actuarial skills and expertise to serve both local and international markets within the next three to five years.
For more information, visit www.ugandanactuaries.com/