Sonarwa Holdings co-chairman dead

The New Times has learnt that Oluwude, who founded Nigerian-based Industrial and General Insurance, which has a controlling 64.25 per cent stake in Sonarwa, passed on two days ago in a US hospital. He was 63.

An International investor in several companies across Africa, Olowude was chairman of Uganda Security Exchange-listed National Insurance Corporation, an insurance firm in Uganda. He was a director and co-chairman of Sonarwa Holdings board, which owns life, and general insurance companies in Rwanda since 2008.

Bonaventure Sangano, the head of non-bank financial institutions at the National Bank of Rwanda, said Oluwude believed in the potential of Rwanda’s nascent insurance sector and wanted to support its growth.

“His death is a big blow to the insurance sector in Rwanda. He contributed a lot to Sonarwa’s growth,” said Allen Karungi Gatete, the firm’s communications manager.

The New Times

UM– USEKE.RW