Head legal and company secretary | UAP Old Mutual Insurance Uganda and Old Mutual Investment Group Uganda (OMIG)
Philo Nyadoi Elizabeth
Head legal and company secretary | UAP Old Mutual Insurance Uganda and Old Mutual Investment Group Uganda (OMIG)
Legal team size: Three
Major legal advisers/external counsel: S&L Advocates, Signum Advocates, Ligomarc Advocates
Which recent political, economic or regulatory changes have impacted your work the most in recent years?
The Insurance Licensing and Governance Regulations introduced significant changes, including requiring Boards to be comprised of most independent Non-Executive Directors, mandating Board Committees, and implementing risk-based supervision requirements. Additionally, the Capital Adequacy and Prudential Requirements Regulations brought changes to capital adequacy requirements.
The Competition Act, which came into force this year, follows the Ministry of Trade’s National Trade Policy 2007 and the National Competition and Consumer Protection Policy 2014. These policies documented the government’s desire to formulate and implement competition legislation for managing the country’s liberal economy. Our business is currently assessing the likely impact of this new legislation on our operations. The Act provides for the enactment of Regulations to support its implementation, and we are closely monitoring any legislative movements regarding these Regulations.
Are there any causes, business or otherwise, that you are passionate about?
I am passionate about educating and empowering the girl child and am actively involved in several related charities. Additionally, I am a corporate governance enthusiast and an active member of the Institute of Corporate Governance of Uganda (ICGU), where I am a member of the Governing Council and serve as the Secretary to the Executive Committee of the Council.