Kampala, Uganda: The Senior Presidential Advisor on Political Affairs and Head of the Office of the National Chairman (ONC), Hadijah Namyalo, has revealed that newly launched Tamini General Insurance will prioritise Uganda’s Bazzukulu in the informal sector, including market vendors and communities vulnerable to disasters.
Namyalo made the remarks on March 3 during the grand launch of Tamini at an Iftar dinner organised by her office at Millennium Park, Lugogo.
“We realised that many low-income earners have remained outside formal insurance. This initiative is aimed at extending protection to them,” she said, urging the Bazzukulu to embrace the Takaful insurer as one that offers transparency all throughout.
President Yoweri Kaguta Museveni, who officiated at the function, urged the Muslim community and Ugandans at large to focus on wealth creation and investment rather than consumptive spending.
“Insurance is about preparing so that if anything goes wrong, you have a backup. Borrowing is good when you invest, but what if plans don’t go as expected? Tamini Insurance completes the cycle,” Museveni said.
The President highlighted Uganda’s population growth, now over 48 million and projected to reach 100 million by 2050, stressing the need for financial tools such as insurance to safeguard investments.
Museveni also referenced government wealth-creation initiatives like the Parish Development Model (PDM), noting that the programme operates without interest and should adopt a broader family-based approach to benefit more households, particularly women-led homes.
Tamini Group CEO Mohamed Bahdon said the company will anchor its operations on ethical standards, financial inclusion and sustainable growth. “African money must be invested in Africa. For too long, wealth generated from our continent has flowed out, leaving our communities underserved,” Bahdon said.
He described Uganda as not just a market but a home for Salaam Group’s long-term investment vision, linking Tamini’s launch to Salaam Bank, which was established in 2023.
“Banking and insurance are twin pillars of any modern economy. Ethical financing must go hand in hand with ethical risk protection,” he added.
IRA: Takaful Promotes Shared Responsibility
The Chief Executive Officer of the Insurance Regulatory Authority of Uganda, Ibrahim Kaddunabi Lubega, said Tamini operates under Takaful principles following the gazetting of Islamic insurance regulations in October 2025.
“This company operates under Takaful principles. It avoids interest-based transactions and promotes mutual protection and shared responsibility,” Lubega noted.
He called for strict professionalism and adherence to ethical compliance, while urging the government to fast-track the National Health Insurance Scheme to broaden coverage.
Tamini General Insurance received its licence from the Insurance Regulatory Authority on November 26, 2025. The firm becomes Uganda’s second Sharia-compliant financial institution after Salaam Bank, launched under the Financial Institutions (Amendment) Act 2023.
Officials say the insurer will target low- and middle-income earners with Sharia-compliant products designed to provide mutual protection and expand financial inclusion.
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