Tanzania, November 9, 2017 – A number of insurance companies have been asked to venture into the rural areas, with a tip of emerging business market for their services. The businesses have been urged to sell their services in the remote areas of the country in order to boost the country’s economy. Their venture will not only be a one sided benefit but they will be able to improve the social welfare of individuals in the state.
Such areas have always been neglected due to poor infrastructure and low market to reach out to but that seems to be wrong. There are a number of people who could greatly benefit from the insurance companies and bolster their lives.
During the launch of the African Insurance Organization (AIO) life seminar that took place in Arusha, the Deputy Minister for Finance and Planning said the Tanzanian population is an opportunity the insurance companies to capitalize their influence on. Dr. Ashatu Kijaji added that the insurance should take an initiative to invest now and help the citizens overcome risks by customizing innovations and localize their solutions.
The insurance sector faces a number of challenges such as low level of literacy from their customers. There is also the barrier of many uncovered citizens, not only in the country but Africa as well that has been widely highlighted in the continent.
The Government of Tanzania has gone an extra mile, undoubtedly to keep the insurance sector alive. They have come with rules and regulations, policies as well to help the insurance market penetrate further into diverse markets.
Their support is to help Tanzanians see the credibility of the services and lure them into getting into the companies for help.
The Deputy is convinced their backing up will create job opportunities for a country of close to fifty million people and still growing.
The country is in need of employment opportunities to cater for the youth that remain stranded after school. Their skills need to be harnessed to achieve results for the country and add to the economy of the same. The man power is enough in the country but the problem is limited opportunities as it is with a number of East Africa countries as well.
She has added on to the companies keeping track and records of the investments to help in growth and expansion of their businesses as well as improve the customers’ services.