Dar es Salaam — In a bold move to strengthen financial security among Tanzanians, Equity Bank Tanzania has unveiled a new suite of insurance products during the 49th Dar es Salaam International Trade Fair (Sabasaba). The initiative responds to a fast-growing insurance market that still leaves millions unreached by practical, affordable coverage.
Speaking at the exhibition, Joseph Makingi, Head of Insurance at Equity Bank, said the institution is determined to drive meaningful change in the insurance sector by offering solutions that touch customers’ lives directly—from personal property to health and life coverage.
“We want the ordinary Tanzanian to be able to buy insurance, understand it, and experience its value when challenges arise. Insurance is not only for the wealthy—it is a tool to safeguard an individual’s and a family’s progress,” said Mr. Makingi.
According to Mr. Makingi, the upgraded insurance packages are tailored to meet the needs of small-scale traders, informal workers, and entrepreneurs—groups that often face financial vulnerability when confronted with unexpected events like fires, accidents, or medical emergencies.
Equity Bank is positioning itself as a long-term partner in Tanzanians’ lives, beyond its role as a financial institution. By making insurance more accessible, understandable, and responsive to the realities of everyday citizens, the bank is contributing to a broader vision of inclusive economic growth and resilience.
Mr. Makingi urged the public to visit the Equity pavilion at Sabasaba to access financial education and explore insurance offerings firsthand. He emphasized that empowering individuals with knowledge is just as critical as the products themselves.
“We believe that a secure nation is one where people are not only saving and investing but are also protected from life’s uncertainties. This is what real financial inclusion looks like,” he concluded.
As Tanzania accelerates its development agenda, Equity Bank’s insurance and financial education initiatives are laying the groundwork for a future where no one is left behind—where every Tanzanian, regardless of income level, can build and protect their economic well-being.
Equity Bank Tanzania has grown steadily since launching operations on February 9, 2012, when it opened its first branches in Dar es Salaam and Arusha. As part of Equity Group Holdings, one of Africa’s most influential banking institutions, the bank set out to offer inclusive financial services to a market underserved by conventional models. Over the past decade, Equity has played a catalytic role in extending modern banking to everyday Tanzanians and supporting national development goals.
From the outset, the bank prioritised innovative distribution channels. By 2013, it had introduced agency banking with thousands of agents, complemented by Eazzy digital platforms that brought banking to customers’ phones and communities. This commitment to accessible services has enabled Equity to reach micro, small, and medium enterprises (MSMEs), a sector that underpins much of Tanzania’s economic activity.
In recent years, Equity Bank Tanzania has strengthened its operations through significant capital injections—exceeding US$40 million between 2020 and 2025—underscoring the Group’s confidence in the Tanzanian market’s potential. With this strengthened base, the bank is now entering a growth phase characterized by robust profitability, enhanced digital capabilities, and a sharper focus on products that improve resilience, like affordable insurance.
As Tanzania accelerates its development ambitions and more citizens embrace financial services, Equity Bank’s expansion into accessible insurance solutions signals a positive future—one in which every Tanzanian, regardless of income or background, can build and protect their economic well-being with confidence.