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Tanzania: Insurance Industry in Dire Need of Skilled Manpower
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The Citizen (Dar es Salaam)
8 May 2008
Posted to the web 8 May 2008
Tanzania's insurance industry faces a daunting task of finding adequately trained and skilled manpower.
"For over 30 years after the nationalisation of industries, insufficient attention was directed towards training Tanzanians in this industry," said the Reliance Insurance Company's board chairman in Tanzania, Mr Mohamed Sumar.
"The monopolistic nature of the insurance industry during the 30 years did not help either as Tanzanians became less aware of the need and advantages of insurance."
He was speaking during the company's 10th anniversary in Dar es Salaam on Tuesday.
He also pledged his company's award of Sh1 million each to Form Four students who excel in their examinations.
The money will be given out to two boys and two girls through the Ministry Education and Vocational Training.
Tanzania's insurance sector was liberalised a decade ago.
In 1998. the country had six insurer and the number has grown to 16 companies at present.
Meanwhile, the Government has promised to continue providing a friendly environment to investors.
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Finance and Economic Affairs minister Mustafa Mkulo also commended the insurance industry for complementing Government development efforts.
He said that was done by providing security to lives and businesses in the country against risks to businesses and people.
He said when the Government liberalised the insurance industry 10 years ago it wanted the industry to provide services in an efficient, cost-effective, competitive, economical, comprehensive and customer-driven manner.
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