Pride Bank Uganda unveils “Pride Care,” a savings account with built-in health insurance

Kampala, Uganda | THE INDEPENDENT | Pride Bank Uganda has announced the launch of Pride Care, a groundbreaking product that integrates health insurance directly into customer savings accounts. Developed in partnership with Jubilee Health Insurance and Padre Pio Insurance Brokers, the product marks a milestone in Uganda’s financial services sector, bridging the gap between financial inclusion and social protection.

The launch, held at Nakawa Market, introduced Pride Care under the campaign “Malayo ne Pride” — a Luganda phrase meaning “distance yourself from worry.” The product enables customers who maintain a minimum balance of Shs 100,000 in their Pride Bank accounts to automatically qualify for medical insurance coverage, offering protection against common illnesses without the need for additional forms or premiums.

“At Pride Bank, we believe true financial inclusion must go hand in hand with social protection,” said Veronicah Gladys Namagembe, Managing Director of Pride Bank Uganda.

“Pride Care is not just a banking product; it is a commitment to walk with our customers through life’s uncertainties, offering them the reassurance that their health and that of their families can be protected when they maintain a disciplined savings culture.”

Pride Care reflects Pride Bank’s evolving strategy to deliver financial products that extend beyond traditional banking services. Customers who qualify for the program gain health insurance coverage from Jubilee Health Insurance, with benefits accessible at over 800 health facilities across Uganda.

The coverage targets five of the most common illnesses that significantly affect Ugandan households: malaria, typhoid, diarrhoea, urinary tract infections (UTIs), and upper respiratory tract infections (URTIs). These were identified based on national and World Health Organization (WHO) data, which show malaria alone accounted for up to 40% of outpatient visits in Uganda in 2023.

Dan Musiime, CEO of Jubilee Health Insurance, described the partnership as a crucial step in addressing healthcare affordability.

“There are five common diseases covered under Pride Care. That’s Malaria, Typhoid, Diarrhea, Urinary Tract Infections (UTIs) and Upper Respiratory Tract Infections (URTIs). These were carefully identified based on healthcare data showing the ailments that most burden our customers. For example, according to the World Health Organization, Malaria accounted for 30–40% of Ugandan outpatient visits in 2023,” Musiime explained.

“This partnership demonstrates how financial institutions and insurers can collaborate to meet the practical health and economic needs of Ugandans.”

Pride Care is structured into three tiers; Bronze, Gold, and Platinum allowing customers to earn proportional health coverage based on their monthly closing balance. The higher the savings maintained, the greater the insurance benefit received.

“We believe your savings should work harder for you,” said Joseph Feeta, Head of Business at Pride Bank. “By maintaining a minimum balance of just Shs100,000, customers automatically unlock medical insurance benefits. The bigger your savings, the bigger your coverage. This product empowers Ugandans to save with purpose and security.”

The simplicity of the system, he added, was intentional. Pride Care eliminates lengthy insurance paperwork, premium payments, and complex eligibility criteria, ensuring that the protection is built directly into the act of saving.

“This product was born from listening to our customers,” Feeta said.

“Too many people lose their hard-earned savings to unexpected medical bills. We wanted a simple, sustainable solution that ensures saving money also means protecting your health and that of your family.”

Pride Bank has also positioned Pride Care as a vital tool for Small and Medium Enterprises (SMEs) and informal traders, who often face challenges in providing affordable health protection for employees. By embedding insurance into business accounts, Pride Care allows entrepreneurs to extend basic health benefits to their staff without additional administrative or financial burdens.

“For market traders, boda-boda riders, and small business owners, a medical emergency can wipe out months of savings,” Feeta added. “Pride Care offers a safety net that allows small enterprises to remain stable even when employees face health challenges.”

The launch at Nakawa Market was therefore symbolic a direct connection with the bank’s grassroots clientele, many of whom live on variable incomes and have limited access to formal insurance.

Rising healthcare costs continue to push many Ugandan families into financial distress.

According to data from Uganda’s Ministry of Health, out-of-pocket medical expenses remain one of the leading causes of poverty, with households often resorting to borrowing or selling assets to pay for treatment.

Namagembe said Pride Care directly tackles this challenge by merging savings and protection in one financial ecosystem.

“We all know that healthcare costs are a major source of financial strain,” she said.

“Too many families are one illness away from losing their savings. Pride Care directly intervenes in this cycle. By embedding insurance into your everyday banking, we remove the barriers and provide immediate protection.”

She emphasized that the initiative is a natural evolution of Pride Bank’s 30-year mission of advancing financial inclusion through innovation, particularly among Uganda’s underserved populations.

The bank says it has invested heavily in support systems to ensure seamless implementation and customer experience, including claims processing, eligibility verification, and nationwide awareness campaigns.

“At Pride Bank, we are committed to ensuring that every Ugandan understands how Pride Care works and how it benefits them,” said Feeta.

“We have built robust systems to provide after-sales support and quick responses for claims and queries. Pride Care is not just an innovation, it’s a promise.”

By embedding health insurance into savings, Pride Bank hopes to contribute to broader national goals such as reducing out-of-pocket healthcare expenditure and improving financial resilience.

The bank says the initiative also aligns with Uganda’s vision of achieving universal health coverage and increasing household participation in formal financial systems.

“Today, we are not just launching a product — we are transforming the way banking contributes to well-being,” Namagembe said.

“This is how Pride Bank fulfills its promise: empowering Ugandans to save responsibly, live securely, and plan confidently for their futures.”