UAP Old Mutual celebrates Wavamunno’s legacy in farewell dinner

UAP Old Mutual has bid farewell to its retiring shareholder and board chairman Sir Gordon Wavamunno during a dinner hosted at the Kampala Serena Hotel.

Wavamunno served for more than 4 decades as Chairman of the Board of Directors at UAP Old Mutual.

UAP Old Mutual which operates an integrated financial services business model, is one of the largest in the country and offers customers insurance, investment, banking and savings solutions.

UAP Old Mutual was formed in 2015 after Old Mutual PLC acquired a controlling stake in Faulu Microfinance Bank in 2014 and UAP Holdings PLC (formerly UAP Holdings Limited) in 2015.

Mathias Katamba, the new group chairman said Wavamunno bought 92% percent stakes of United Assurance in 1973 and remained chairman until not too long ago.

Katamba said that Wavamunno’s story with UAP Old Mutual spans over four decades of dedication, innovation and impactful leadership.

“As both a shareholder and board chairman, his leadership has been pivotal to the success of UAP Old Mutual. He has played a key role in the evolution of UAP Old Mutual through various milestones in some of the most challenging years of businesses in this country,” said Mr. Katamba.

He also told the guests that Mr. Wavamunno during his leadership of the insurance firm facilitated the successful strategic entry of UAP into Uganda, as the company was previously United insurance before leading a complex merger from UAP to UAP Old Mutual.

The businessman was also instrumental in the construction of Nakawa Business Park where the company is at the moment.

“Prof. Wavamunno’s visionary guidance elevated UAP Old Mutual to a prominent leading position of an insurance company of his stature Uganda. His insights have successfully led to the transformation of the business and we follow on that legacy to continue the taking the company further,” he told an audience comprised of Wavvamunno mostly from the business community.

Katamba added that Wavamunnos’ philanthropic contributions have uplifted communities and earned him international recognition.

Mr. Stephen Chikovore, UAP Old Mutual Uganda, Managing Director praised the retiring board chair for his contribution and committed leadership.

“Sir Gordon Wavamunno’s exceptional leadership and business prowess have been part of the driving force behind UAP Old Mutual Uganda’s growth. His dedication to success is truly inspiring!” said Chikovore.

He added:  “His journey as a business leader in most challenging years of this country is an inspiration for all of us at UAP Old Mutual. His relentless pursuit of excellence and his ability to turn challenges into opportunities are values that resonate with our organization’s ethos.”

During his time at UAP Old Mutual, Chikovore said, Wavamunno grew and maintained the company’s position as a leading insurance company and as a result “we are still a top insurance company to this day.”

Prof. Samuel Sejjaaka who delivered a keynote address at the night described Dr. Wavamunno’s life journey as a true beacon of commitment to excellence and innovation.

“We are honoured to celebrate a man who has not only shaped the business landscape of Uganda but has also been a beacon of hope through his philanthropic work. His life is a journey of commitment to excellence and innovation,” Prof. Sejjaaka said.

“More than a business tycoon, he’s a symbol of hope and innovation,” he added.

On his part, the joyous Sir Gordon Wavamunno reflected on his journey as an entrepreneur and encouraged young people to believe in themselves & equip their children with the right skills to run the businesses that they’ll leave behind.

He thanked his family and asked them to keep working as a team and also acknowledged the milestones UAP Old Mutual Insurance has attained within the industry.

In 2012, the Queen of England bestowed upon Wavamunno the British royal order of chivalry as a knight in the order of Saint John.

The award was in recognition of his philanthropic work with St John Association of Uganda, where he has been a member since 1983. He currently serves as the chairman of the association. Among other charitable acts, Wavamunno is credited with having donated ambulances to the association, renovating their offices in Kampala, and offering bursaries to orphans.

Wavamunno was born in Rugaaga, present-day Isingiro District. He also serves as the honorary consul of Hungary to Uganda.

Wavamunno was also awarded an honorary doctorate by Makerere University, and, he says, he is a “professor” in business and entrepreneurship at Nkumba University, which he also serves as chancellor.

In his business career, Wavamunno says he was the first African to start up a dry cleaning company,

Whitener Dry Cleaner Limited and the first African to start up a driving school – Western Driving School, all by then stationed in Mbarara.