KAMPALA — SBG Securities, a subsidiary of Stanbic Uganda Holdings Limited, has launched a pension fund management business as it calls for greater mobilisation of Uganda’s long-term savings to support economic growth.
The new service was launched during the inaugural Stanbic Uganda Pensions Conference held under the theme, “The Role of the Pensions Sector in Accelerating the Tenfold GDP Growth Strategy.”
The conference brought together regulators, policymakers, retirement scheme trustees, fund administrators, employers and investment professionals to discuss how pension assets can be invested in productive sectors while generating sustainable returns for contributors.
Mark Ocitti Ongom, Chief Executive Officer of Stanbic Uganda Holdings, said pension funds could provide long-term capital for infrastructure, housing, industrialisation and other sectors.
“At Stanbic Uganda, our purpose is clear: ‘Uganda is our home; we drive her growth.’ We believe the pensions sector has a unique opportunity to contribute to Uganda’s long-term development by mobilising domestic savings and deploying them into productive investments that stimulate economic activity, create jobs and improve livelihoods,” Ongom said.
He said retirement savings provide financial security for workers while professionally managed pension assets can also contribute to national development.
Ongom said the expansion into pension fund management would enable Stanbic Uganda to work more closely with pension schemes, regulators and government to create greater value for contributors.
Delivering the keynote address, Minister of State for Labour, Employment and Industrial Relations Simon Mulongo said strengthening Uganda’s pension system was important both for retirement security and economic development.
He said the government was working to expand pension coverage, particularly among workers in the informal sector, through initiatives including the National Long-Term Savings Scheme.
“The pensions sector is no longer only about securing people’s retirement. It has become an important pillar for mobilising domestic capital that can finance Uganda’s long-term development priorities,” Mulongo said.
He called for stronger policy and regulatory frameworks to encourage wider participation while protecting contributors’ savings.
The launch allows SBG Securities to offer pension fund management alongside other services within the Stanbic Uganda Holdings group, including banking, custody, trustee services and investment advisory.
Grace Semakula, Chief Executive Officer of SBG Securities Uganda Limited, said the new service was intended to meet demand for professional pension fund management.
“Our objective is to deliver consistent value to retirement schemes through disciplined investment management, strong governance and sound risk management,” Semakula said.
“Pension savings deserve professional stewardship that balances sustainable returns with long-term capital preservation.”
Semakula said the business would also support efforts to increase retirement savings and extend pension coverage to Uganda’s informal sector.
Paul Muganwa, Executive Director and Head of Corporate and Investment Banking at Stanbic Bank Uganda, said pension funds could provide a significant source of long-term investment capital for the economy.
“The journey towards a tenfold economy will require significant pools of long-term investment capital. Pension funds provide one of the most reliable sources of that capital,” Muganwa said.
He said stronger cooperation between government, regulators and the private sector could help channel pension resources into productive sectors while protecting contributors’ interests.
Muganwa said Stanbic Uganda’s experience in corporate banking, investment banking, custody services and capital markets positioned the group to provide integrated financial services to pension schemes and institutional investors.
SBG Securities has expanded its investment products over the years from traditional securities to include Uganda shilling and US dollar unit trusts.
The pension fund management service is the latest addition to its investment offering.
The company said the expansion is intended to support Uganda’s long-term savings culture and increase the mobilisation of domestic capital for investment.
The launch also marked the start of Stanbic Uganda’s October customer appreciation activities and comes as the group marks 35 years of operations in Uganda under Standard Bank Group.
