KCB Uganda held an annual client appreciation event on the 24th November 2021 for its Investor Services clients at the Serena Hotel in Kampala.
The event was attended by KCB clients in the pension and collective investment schemes sectors as well as the industry regulators (URBRA and CMA).
“To you our dear customers, we cannot thank you enough for the strategic business relationships and alliances we enjoy with you, we applaud you for the undoubted support over the years. We do not take this for granted or business as usual.” noted KCB Uganda, Managing Director, Edgar Byamah.
Byamah further appreciated the role of the Capital Markets Authority (CMA) and the Uganda Retirement Benefits Regulatory Authority (URBRA) in the development of the pensions and unit trusts industry in Uganda, “To our regulators, we thank you for your continued guidance and support amidst the prevailing challenges to ensure growth of the industry, the licenses we hold are not just mere licenses, but a trusted responsibility we shoulder as KCB Uganda that we must execute this responsibility with high ethical standards, we applaud you for this positive role towards creating an enabling operating environment.”
He applauded the KCB Uganda Investor Services team for the exceptional hard work it has exhibited in serving its clients and ensuring that the Bank exercises its custodian and trustee mandate as prescribed within the different regulations.
Speaking on behalf of the KCB Uganda Investor Services clients, The Chief Executive Officer for ICEA Life Uganda, Emmanuel Mwaka appreciated KCB Uganda for its exceptional service and support towards the Investor Services clients and urged all clients to be loyal and financially responsible to promote growth of their businesses and a healthy market.
The Director Supervision and Market Conduct at URBRA, Daisy Linda Nabakooza, highlighted the role played by regulators in the economic transformation of the country and applauded KCB Uganda for its role as a corporate trustee and custodian, “KCB is a well-capitalized entity, it manages over 800 billion Uganda Shillings, and it is compliant with the financial regulations of the country, this creates revenue which greatly contributes towards the economic growth of the country.” Daisy further commended KCB Bank as a Corporate Trustee and custodian through its Investor Services unit for continuously exhibiting professional market conduct and being compliant.
Speaking on behalf of Keith Kalyegira the Chief Executive Officer for the Capital Markets Authority, Dickson Ssembuya, Director for Research and Market Development at the Capital Markets Authority reiterated the role of trustees in the growth of the financial services sector and in particular the mutual funds in managing risks.
He further emphasized the role played by the regulators in ensuring good market conduct.
“KCB Uganda is a regulated entity and a trustee recognized under the Collective Investment Schemes, which sub sector has been growing at a very exponential rate” Ssembuya noted.
According to Ssembuya, in 2017, the Collective Investments Scheme sector had about 64 billion Uganda shillings in savings and is currently over 849 billion shillings, which growth trajectory depicts a compounded average growth of about 65% in the last 4 years.
He mentioned that at very conservative rates, the subsector is projected to grow to 4 trillion Uganda shillings in the next four years and that this would be enabled by industrial participants like KCB Uganda.
KCB Uganda is a licensed corporate trustee for pension schemes, custodian, and Collective Investment Schemes trustee.
These services are offered under the KCB Uganda Investor Services unit within its Corporate department.
The event is an annual one held by KCB Uganda to appreciate and recognise its Investor Services customers for their continued business relationship and loyalty to the KCB Uganda brand.