By Costantine Muganyizi
National Service Corporation Sole (SUMAJKT) has officially launched its latest enterprise – SUMAJKT Life Insurance Company Limited – marking a significant strategic expansion into the local financial services sector.
This new life insurance provider, now Tanzania’s 36th licensed insurer, becomes the 20th subsidiary under the economic arm of the Tanzania People’s Defence Forces (TPDF).
Speaking at the launch, Gen. Mkunda underscored the alignment of the new venture with Tanzania’s broader development goals.
“While our core mandate remains national defence, we also contribute meaningfully to Tanzania’s social and economic development. The establishment of SUMAJKT Life Insurance is a timely intervention that supports national resilience,” he said.
The event also drew key figures from the financial and insurance sectors, including the Commissioner of Insurance (COI), Dr Baghayo Saqware, who applauded the initiative as a strong step toward financial inclusion and economic sustainability.
Major General Rajabu Mabele, CEO of SUMAJKT and Head of National Service (JKT), highlighted the company’s ambition to rank among the top three SUMAJKT businesses in terms of impact and scale.
“Our aim is to serve Tanzanians across all sectors – military and civilian alike -by offering affordable, reliable, and purpose-driven life insurance solutions,” he remarked.
He emphasised that SUMAJKT Life Insurance will play a critical role in strengthening household resilience and long-term financial security through accessible products designed for the local context.
In a recent exclusive interview with Business Insider, Major Godson Mhando, Managing Director of SUMAJKT Life Insurance, revealed that the firm received its official license from the Tanzania Insurance Regulatory Authority (TIRA) on February 11, 2024.
It commenced full operations on May 11, 2024, with its flagship branch located at Mgulani JKT headquarters in Temeke District, Dar es Salaam.
“We’re committed to delivering people-centred, innovative insurance services that reflect Tanzanian values. As a government-owned institution under JKT, we have a nationwide footprint that positions us to effectively reach both urban and rural communities,” Major Mhando noted.
The entry of SUMAJKT into the life insurance sector comes at a time when Tanzania is striving to improve its insurance penetration rate, which remains relatively low compared to global averages. The sector, however, is experiencing consistent growth – currently at around 5% annually, according to Dr Saqware.
The CIO commended SUMAJKT for the bold investment, emphasizing its potential to provide critical risk protection to families and individuals while boosting the country’s overall financial ecosystem.
“Operate with the highest standards of professionalism, integrity, and customer care,” he urged, stressing that innovation and responsiveness will be key to gaining trust in a competitive market.
Ms. Flora Minja, Chairperson of the Association of Tanzanian Insurers (ATI), also expressed her support, pledging ATI’s collaboration to ensure SUMAJKT Life Insurance integrates seamlessly into the national insurance landscape.
“ATI is committed to supporting new entrants like SUMAJKT Life Insurance that aim to improve accessibility and affordability of life insurance services for all Tanzanians,” she stated.
Founded in 1982, SUMAJKT is the economic wing of Tanzania’s National Service. It operates in multiple strategic sectors, including agriculture, construction, manufacturing, logistics, and now insurance, with a mission to stimulate economic productivity and reduce the government’s fiscal load. The creation of a life insurance company underlines the increasing integration of defense institutions into national development frameworks, highlighting the dual role of the military in both protection and production.
