Business
Old Mutual Investment Group Targets Doubling Assets Under Management in Three Years
Old Mutual Investment Group (OMIG) Uganda, the market leader in the nation’s collective investment sector, has unveiled an ambitious plan to double its assets under management (AUM) within the next three years, buoyed by rapid growth in its dollar-denominated unit trust fund and a pipeline of new investment products.
Speaking at the company’s Agents Half-Year Awards and Recognition event at Hotel Africana in Kampala, OMIG Board Chair Richard Byarugaba said the firm currently commands 67% of Uganda’s collective investment schemes. By the end of March, its total AUM stood at UGX 2.8 trillion.
“To maintain this leadership, our strategy is centred on innovation and empowering our agents—the heartbeat of the organisation—with the right digital tools and training,” Byarugaba noted. “We will soon introduce new products in alternative assets, such as real estate and real estate investment trusts.”
Byarugaba added that OMIG is positioning itself as a significant contributor to Uganda’s economy, aligning its growth strategy with the country’s expanding GDP, which rose by 6.06% in the last financial year.
OMIG Managing Director, Zac Kisesi, attributed the firm’s success to strong financial advisory services and consistent investor education. He revealed that the company’s dollar-denominated unit trust fund has skyrocketed from $24 million a year ago to more than $7 billion today, a surge he credited to excellent customer service and growing investor confidence.
“The collective investment sector in Uganda is still young but growing fast,” Kisesi said. “The pandemic accelerated awareness, and Ugandans are now realising the value of professional financial management. By offering a secure, regulated investment environment, OMIG is helping to bridge a historical gap where options were limited to bank fixed deposits.”
He added that the sector is poised for “unstoppable growth,” emphasising OMIG’s continued role in championing financial literacy and broadening access to investment opportunities.
With its dominance in the market and strategic expansion into alternative assets, OMIG is well-positioned to maintain its leadership while reshaping Uganda’s investment landscape.
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