IBAU, UIA & IEC Sign Tripartite MOU to Strengthen Risk Management and Capacity in Uganda’s Oil & Gas Sector
Date: 31th October 2025
Venue: Industry Enhancement Centre (IEC) Offices, Kololo, Kampala
The Insurance Brokers Association of Uganda (IBAU), together with the Uganda Insurers Association (UIA), formally entered into a tripartite Memorandum of Understanding (MOU) with the Industry Enhancement Centre (IEC), an oil and gas sector–led initiative implemented by Zoramu Consulting Group and Invest in Africa (IIA) Joint Venture, and funded by Total Energies EP Uganda alongside Joint Venture Partners CNOOC Uganda and UNOC, in collaboration with the Petroleum Authority of Uganda and the Ministry of Energy and Mineral Development.
The signing took place during the IEC Networking Event themed “Access to Markets and Diversification: Building Sustainable Enterprises Beyond the Oil & Gas Sector.” The event convened SMEs, industry stakeholders, and market enablers from across the economy to explore opportunities for expansion, diversification, financing, partnerships, and sustainable business growth within and beyond the oil and gas value chain.
Through this MOU, IBAU, UIA and IEC have committed to working collaboratively to enhance the preparedness and competitiveness of enterprises participating in Uganda’s evolving energy sector. The partnership will focus on:
• Oil and gas–specific training and capacity-building programmes
• Knowledge-sharing on risk assessment, compliance, and insurance requirements
• Strengthening industry understanding of business continuity and diversification strategies
• Developing and promoting suitable insurance solutions for sector needs
This collaboration will enable industry players to better navigate the complexity of the oil and gas environment while building capabilities that support long-term sustainability.
IBAU Chairman Paul Muhame Reaffirms Commitment to Tailored Insurance Solutions
During his remarks at the signing ceremony, IBAU Chairman, Mr. Paul Muhame, underscored the importance of empowering industry participants to understand and manage risks effectively. He noted that even within the established insurance sector, supporting the oil and gas industry has required deep technical understanding and continuous learning, a journey that highlights the importance of training and structured institutional support.
“Our commitment is to ensure that the insurance sector continues to offer well-designed, dependable solutions that address the unique risks encountered in oil and gas,” Mr. Muhame said.
“We are dedicated to strengthening risk management practices and developing products that support industry resilience and sustainability beyond the current project lifecycle.”
He commended IEC for spearheading sector development and reaffirmed IBAU’s readiness to continue offering professional risk advisory services to industry participants.
Advancing National Content and Enterprise Sustainability
The tripartite agreement aligns with Uganda’s wider national content agenda by enhancing technical capacity, supporting compliance with sector standards, and equipping enterprises with the tools needed to participate competitively in complex industrial environments.
This partnership is expected to not only support the current oil and gas development phase but also strengthen long-term capabilities that can be applied across diverse sectors of the economy.
The formalization of this MOU marks a significant milestone in strengthening cooperation between the insurance sector and the Industry Enhancement Centre. With coordinated efforts from IBAU, UIA and IEC, industry players can expect improved access to risk advisory insights, technical guidance, and sector-specific knowledge that fosters sustainable enterprise growth.
IBAU is proud to be part of this strategic partnership and looks forward to continued collaboration that supports Uganda’s industrial advancement and economic development.
