NIC Tanzania, Coop Bank ink MoU to expand insurance access
National Insurance Corporation (NIC) Managing Director, Kaimu Abdi Mkeyenge on the left and COOP Bank Managing Director, Godfrey Ng'urah (right) at the signing ceremony of the MoU between the two entities in Dodoma
Dodoma. The National Insurance Corporation of Tanzania (NIC) Limited has entered into a strategic partnership with Coop Bank Tanzania through the signing of a Memorandum of Understanding (MoU) aimed at widening access to insurance services across the country.
The agreement, signed on September 10 at Coop Bank’s head office on Kuu Street in Dodoma, is expected to bring together Coop Bank’s nationwide branch network and NIC’s long-standing expertise in insurance solutions.
The collaboration seeks to make affordable and reliable insurance products more accessible to Tanzanians, particularly those in rural and underserved communities.
Speaking during the signing ceremony, NIC Managing Director, Kaimu Abdi Mkeyenge, described the partnership as a milestone in strengthening financial protection for individuals, families, and businesses.
He said the initiative would make it easier for citizens to access general and life insurance products, while also contributing to broader efforts to promote financial inclusion.
“This partnership marks a major step towards broadening access to both general and life insurance services,” Mr. Mkeyenge said. “By combining Coop Bank’s reach with NIC’s proven solutions, we will make it easier for Tanzanians to access affordable and reliable insurance.”
His sentiments were echoed by Coop Bank Managing Director, Godfrey Ng’urah, who said the collaboration would introduce innovative products designed to meet the specific needs of clients in key sectors.
He noted in particular that the bank would focus on providing tailored solutions to support the agribusiness supply chain, with the aim of strengthening the sector and improving financial resilience among farmers and other stakeholders.
“We will be providing bespoke insurance solutions targeting the agribusiness supply chain to strengthen the sector and our clients financially,” Mr. Ng’urah said.
Through this partnership, insurance services will be distributed through Coop Bank’s broad presence, enabling clients in both urban and rural areas to access a wider range of financial products under one roof.
By extending protection against risks such as loss of income, accidents, or damage to property, the initiative is expected to boost security for individuals and enterprises while supporting national socio-economic development goals.
NIC reiterated its commitment to delivering customer-focused solutions that safeguard lives, assets, and businesses, while both institutions emphasized their shared ambition of advancing Tanzania’s financial inclusion agenda.
The signing of the MoU, officials said, represents a significant milestone in extending insurance coverage to more citizens and fostering long-term economic growth
