The Ministry of Finance, Planning and Economic Development, Matia Kasaija, together with Minister of State for Foreign Affairs, Oryem Henry Okello, signed the Host Agreement between the government of Uganda and ZEP-RE ( PTA Reinsurance Company), a leading reinsurer in Africa.

Hope Murera, the Managing Director & CEO of ZEP-RE, signed on behalf of the Company.

The objective of the Host Agreement is to enable this company to expand its operations in Uganda. The company already has a strategic location in 9 capitals & is serving 50 countries.

It is envisaged that hosting this company in Uganda will increase the insurance and reinsurance business, create employment & further build Ugandans’ capacity in the insurance business.

“We hope that ZEP-RE shall support the ongoing initiatives like agricultural insurance, support Uganda’s credit rating,de-risk the financial sector, and provide technical capacity among other services,” said Kasaija.

ZEP-RE (PTA Reinsurance Company) is a leading reinsurer in Africa and a specialized institution of the Common Market for Eastern and Southern Africa (COMESA). Uganda is one of the founding members of this COMESA institution founded in 1990.

The company was established in 1990 under the then Preferential Trade Area, a precursor to COMESA, to develop the insurance and reinsurance industries and support capacity building.