The Minister of Finance, Ambassador Khamis Mussa Omar (MP), has called on the National Insurance Corporation (NIC) to prepare strategic plans that fully align with Tanzania’s long-term development agenda, highlighting the sector’s potential to drive economic growth.
Speaking during a meeting with NIC leadership in Dodoma, Minister Omar stressed that the insurance sector is among the key areas that can accelerate the country’s industrial and economic transformation under the National Development Vision 2050.
“We have ambitious national plans. The Five-Year Development Plan and the National Development Vision 2050 show huge economic opportunities, particularly in the insurance sector. NIC, as a public corporation, must position itself to support these initiatives, including industrial growth, establishment of industrial zones, specialized economic areas, agriculture, and other strategic sectors,” Minister Omar said.
He also urged NIC to expand its public awareness campaigns and accelerate insurance education, ensuring citizens understand the opportunities in the sector and appreciate the importance of insurance, especially in times of emergencies.
Responding to the Minister, NIC Acting Managing Director, Mr. Abdi Mkeyenge, assured that the corporation has been performing effectively and is committed to delivering quality services across the country.
Mr. Mkeyenge added that NIC plans to increase investments in development projects, including industrial ventures, infrastructure, and capital markets, with the ultimate goal of boosting national revenue.