Prudential Assurance Uganda CEO, Tetteh Ayitevie, presents UGX 135m cheque to 4 Makerere University actuarial science graduate
Prudential Uganda has awarded Shs135 million to the top five graduates of Makerere University’s Actuarial Science program, stressing the company’s ongoing dedication to cultivating indigenous actuarial expertise.
The awards were disbursed through the Prudential Actuarial Support Scheme (PASS), a flagship program launched in 2022 in collaboration with Makerere University.
According to Tetteh Ayitevie, CEO of Prudential Uganda, PASS aims to identify and nurture the most talented actuarial students by providing them with comprehensive financial backing, personalized mentorship, structured internships, and crucial funding for internationally recognized professional actuarial certification exams.
Tetteh Ayitevie, CEO of Prudential Uganda
Ayitevie said by supporting bright minds at a critical stage in their careers, PASS not only rewards academic excellence but also bridges the gap between academic training and industry requirements.
He said the initiative empowers graduates to gain the credentials and practical experience needed to excel in the competitive global actuarial landscape, while also addressing the shortage of certified actuaries in Uganda.
“This investment is vital to securing the future of Uganda’s financial and insurance sectors by nurturing the talented professionals who will spearhead innovation and ensure long-term sustainability. Actuaries play a critical role in the industry, because they are essential for accurate risk assessment, precise pricing models, innovative product development, and robust long-term financial planning that underpins the stability and growth of financial institutions,” he said.
He noted that the emerging professionals embody the next generation of industry leaders and change-makers. By providing them with the necessary support and resources, he said Prudential is laying the foundation for a stronger, more resilient, and dynamic financial ecosystem in Uganda, one that is equipped to meet future challenges and capitalize on new opportunities in an ever-evolving market
As Uganda’s insurance, pensions, and broader financial services sectors continue to expand, the demand for actuaries, professionals trained to analyze financial risk and ensure long-term stability has grown significantly.
However, the supply of fully qualified actuaries remains critically low, creating a skills gap that could hinder industry growth. The Prudential Actuarial Support Scheme (PASS) was established to help close this gap by identifying high-potential graduates and equipping them with the technical knowledge, global qualifications, and industry exposure needed to thrive in both local and international markets.
This year, five exceptional graduates, Brendan Joseph Lule, Twinomujuni Gordon, Galabuzi Allan, Katana Daphine, and Inyangat Kenneth, were recognized under the PASS initiative. Each received a cash award of USD 500 and full sponsorship to pursue globally recognized professional actuarial certifications. These include the Certified Actuarial Analyst (CAA), Associate (ASA), and ultimately Fellowship (FSA) designations, credentials that represent the highest standard in actuarial practice worldwide.
Prof. Edward Bbaale, Principal of the College of Business and Management Sciences at Makerere University, commended the growing impact of the PASS initiative, describing it as a transformative force in the university’s actuarial science program.
Prof. Edward Bbaale, Principal of the College of Business and Management Sciences -MUK
“PASS has become a powerful catalyst for academic excellence and professional readiness among our students. It not only rewards top performance but also bridges the gap between academia and industry, equipping graduates with the practical skills, mentorship, and global certification opportunities needed to lead in a rapidly evolving financial landscape,” he said.
Since its launch in 2022, the Prudential Actuarial Support Scheme has supported 14 top-performing actuarial science graduates. Notably, two alumni of the program have already transitioned into full-time roles at Prudential Uganda—demonstrating the initiative’s tangible impact on career development and workforce readiness. As each new cohort is inducted, PASS continues to advance the long-term goal of building a robust, self-sustaining actuarial profession in Uganda, led by locally trained and globally certified experts.
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