Dar es Salaam. The Tanzania Insurance Regulatory Authority (TIRA) and the Dar es Salaam Stock Exchange (DSE) have signed a Memorandum of Understanding (MoU) aimed at creating an enabling environment for the development of innovative financial products, including insurance instruments that can be listed on the local bourse.
The agreement, signed on July 31, 2025, in Dar es Salaam, marks a strategic partnership between the insurance and capital markets sectors in Tanzania, with the broader objective of enhancing public financial literacy and increasing access to capital for insurance companies.
Speaking during the signing ceremony, the Commissioner for Insurance, Dr Baghayo Saqware, said the collaboration would strengthen the financial ecosystem by enabling insurance companies to raise capital through the stock market, while safeguarding consumer interests and promoting financial efficiency.
“This partnership is strategic. It will expand capital access for insurance firms via the stock exchange, while also improving regulatory oversight and operational transparency,” said Dr Saqware.
“TIRA believes that the success of the insurance sector is intrinsically linked to the strength of capital markets. Together, we can build a more inclusive, resilient, and beneficial financial system for all Tanzanians.”
Dr Saqware further elaborated that the MoU would enhance information-sharing mechanisms between TIRA and DSE to facilitate efficient supervision and analysis of financial data.
It will also support the listing of insurance securities, foster joint research initiatives, and promote professional training for staff of both institutions.
In addition, the partnership is expected to catalyse public awareness campaigns on the value of insurance and capital market investment, contributing to greater participation among Tanzanians in both sectors.
On his part, the Chief Executive Officer of the Dar es Salaam Stock Exchange, Mr Peter Nalitolela, hailed the agreement as a deliberate step towards integrating two vital components of the financial sector, insurance and capital markets, in alignment with Tanzania’s long-term development aspirations.
“This MoU represents a strategic vision to synchronise the development of the insurance industry and capital markets. It will serve as a blueprint for how our two sectors can collaborate to deepen financial inclusion, enhance transparency, and accelerate economic transformation in line with the Tanzania Development Vision 2050,” Mr Nalitolela said.
He noted that the agreement would also strengthen human capital and community development, foster the growth of a competitive and inclusive economy, and create a platform for knowledge exchange between public and private institutions.
As part of the MoU, the two entities have committed to jointly organising high-level professional forums that bring together key stakeholders from the insurance industry, capital markets, and investment communities.
These events are expected to facilitate dialogue, encourage the adoption of best practices in risk management, and reinforce transparency in financial reporting.
“Through this collaboration, we are opening a new chapter of purpose-driven partnership. It is a chapter that promotes financial education, enhances accountability, facilitates access to capital, and ultimately delivers positive outcomes for individuals, families, and institutions across the country,” Mr Nalitolela added.
The partnership comes at a time when the Tanzanian government is intensifying efforts to develop a more robust financial infrastructure to support national economic goals.
The integration of insurance products into capital market frameworks is expected to deepen market liquidity, improve investor confidence, and stimulate sustainable economic growth.
