Insurance Brokers make waves in Zanzibar

03 Oct Insurance Brokers make waves in Zanzibar

The Tanzania Insurance Brokers Association (TIBA) has just concluded its Annual Insurance Day and Annual General Meeting in Zanzibar last weekend.

Attended by over 180 participants which included Brokers from Arusha, Moshi, Zanzibar and Dar Es Salaam, over 20 Underwriters from Tanzania and representations from Broker Associations from Kenya, Uganda, Rwanda, Burundi, Lloyds UK, Nigeria and an International Journalist from Commercial Risk Africa (Ms. Liz Booth), the conference has been regarded by the Industry as one of the most successful ones in the Industry’s history.

The keynote speech at the event was given by The Commissioner of Insurance, Mr. Israel Kamuzora and the Regulatory Authority was present in good numbers to show support to an Industry which has one of the largest potentials in the Country. The event was graced with the presence of the Chief Guest, Honorable Minister of Finance of Zanzibar Dr. Khalid Salum Mohamed.

The theme for the conference ‘Towards Excellence’ illustrated the Association and Brokers commitment to professionalism in the market. In his speech, Mr. Mohammed Jaffer (President of Brokers Association of Tanzania and Vice President of East Africa Brokers Association) said “The presence of our Brothers and Sisters from East Africa, Lloyds UK, Commercial Risk Africa and other International players here today is a sign of how important the East African market and in particular the Tanzanian market is to Investors World over” he added “The Association has grown leaps and bounds with over 130 members today who contribute over Tshs 350,000,000,000/= in premiums to Underwriters in Tanzania which is approximately 60% of the entire GWP in Tanzania”

The lead sponsor for the event was KPMG and one of the highlights at the event was it marked the closure of the KPMG Internship Challenge which was whereby students from IFM were challenged to write an essay on selected subjects and the winner would win a paid Internship at KPMG Tanzania for a period of 6 to 12 months. KPMG Tanzania Partner Ketan Shah said at the event “The KPMG Internship challenge gave us a highlight of the potential of students at IFM with the winner showing exemplary skills in writing which were supported by innovative ideas, detailed research of markets from around the Globe and practical implementation of the same  and we are looking forward to sponsoring many more of such initiatives with the Brokers Association.”

The winner of the KPMG initiative was Mr. Geofrey Joseph, a 2nd year student from IFM. The event was also attended by the CEO of Viasat 1 Tanzania, Mr. Joseph Sayi who when approached for comments on the event said “The vibrancy of this conference was simply amazing, the speakers were informative not only for the Insurance Industry but across all sectors and the icing was the presence of Dr. Wale of Nigeria, one of the most renowned motivational speakers in Africa who ensured we all left charged to achieving excellence – we wish TIBA the very best and assure our support when called upon.”

Dr. Wale is one of the most renowned motivational speakers in Africa and has written numerous books including “Help! My Chocolate is melting” “Critical thinking” and several others – in his parting wordings Dr. Wale addressed the attendees very correctly by saying “To have a bigger piece of the cake, we must all first come together to bake a big cake!”

The AGM concluded the conference on Saturday with the membership re-electing Mr. Mohammed Jaffer for a second and final term of 2 years as President of the Association, the Vice President elected was Ms. Mendies Mhiribidi, Secretary Ms. Fikky Ntomola and Treasurer Mr. Saddick Somji.

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