07 May 2021

Vodacom Tanzania launched ‘VodaBima’ – a digital service to give customers immediate access to insurance services, with the aim of driving up adoption of insurance solutions in the market.

In a statement, the operator references a Finscope report 2013 which found that insurance uptake in Tanzania was at 13.0% having doubled from 6.8% in 2009.

Despite the double-digit growth, Vodacom Tanzania believes insurance to be one of least utilised financial services in Tanzania. Reasons range from low awareness, mistrust of the service and bottlenecks to access the services.

This has formed the backdrop for the roll out of VodaBima. Speaking in Dar es Salaam, M-Pesa director, Epimack Mbeteni said that VodaBima is a new addition to M-Pesa portfolio of products and services all aimed at making digital inclusion in Tanzania a reality.

“For 13 years now, Vodacom M-Pesa has been a key catalyst in growth of financial inclusion in the country and we are always looking into new ways of pushing for an inclusive digital economy,” Mbeteni added. “Vodacom aims to bridge the gap of access to insurance services by offering a digital solution that will cut down costs and increase access to Insurance products. VodaBima gives customers the option of saving up for Insurance at no cost in their VodaBima wallet throughout the year.“