CULTIVATING A SAVING CULTURE, JUBILEE INSURANCE LAUNCHES SMART SAVE PLAN.

Uganda is rated among the highest growing economies in Africa. This is attributed to the increase in investments and the favorable investment climate. Well, The Raising awareness and educating the public about the available savings options in the market is equally key to cultivating the savings culture in the country. This observation was made by the Jubilee Life CEO Kumar Sumit Gaurav during the launch of the company’s Smart Save Plan, a savings product with numerous inbuilt benefits. Mr. Gaurav noted that the reasons to save for the future are well documented and further demonstrated by several cautionary tales all around us, though there’s still need to regularly address them Recent estimates by Bank of Uganda reveal that only about 3-5% of the 18M Ugandan workers save on a monthly basis. Kenya on the other hand has saving rate at 23%, Rwanda at 18% and Tanzania at 13%, making Uganda’s situation look all the more precarious. Besides inculcating a consistent saving discipline, customers have also been guided to navigate the available solutions and opportunities in the market. ENDS.