STANBIC BANK BOOSTS INSURANCE AWARENESS WITH MWANZA STREET CLINIC INITIATIVE

Janeth Mbaruku, Bancassurance Manager at Stanbic Bank Tanzania, engages with an entrepreneur during an insurance education clinic held on the streets of Mwanza. The initiative aims to increase public awareness of financial protection and risk management, educating citizens and business owners on the importance of insurance in safeguarding their assets and health.

Mwanza, Tanzania — Stanbic Bank Tanzania has intensified its efforts to promote insurance literacy, bringing an interactive insurance awareness clinic directly to the streets of Mwanza as part of a broader strategy to strengthen financial protection and resilience among Tanzanians.

Held outside the bank’s Nyerere Road branch, the outreach initiative brought insurance education closer to the public, attracting small business owners, professionals, and everyday citizens eager to better understand how insurance can safeguard their health, businesses, property, and overall financial well-being.

The activation underscores Stanbic’s evolving role—not just as a financial services provider, but as a key advocate for improved risk management awareness and the practical relevance of insurance in daily life.

Speaking during the clinic, Janeth Mbaruku, Manager Bancassurance at Stanbic Bank Tanzania, highlighted the persistent gap in public understanding of insurance despite its critical importance.

“Many people still see insurance as something complicated, expensive, or only necessary after something has gone wrong. What we are doing through this clinic is helping people understand that insurance is part of being financially prepared and protecting what matters most,” she said.

 

Mbaruku noted that the Mwanza activation builds on a growing awareness campaign, following a similar engagement conducted in Tanga last year.

“This is a continuation of a conversation we started earlier, and we want to keep taking it to more communities. What we saw in Tanga, and now again in Mwanza, is that there is real interest from people who simply need the right information explained in a practical and relatable way,” she added.

The outreach was delivered in collaboration with key insurance partners, including Britam Insurance Tanzania Limited, Newtan Insurance Company Limited, Alliance Insurance Corporation Limited, Sanlam Allianz General Insurance Tanzania Limited, and Heritage Insurance Company Tanzania Limited. Together, they aim to empower more Tanzanians to make informed decisions around financial protection—before unexpected losses or emergencies occur.

For many attendees, the clinic provided a rare and valuable opportunity to engage directly with insurance experts and receive clear, practical guidance.

Florence Lugobi, a Mwanza-based entrepreneur, described the session as eye-opening, particularly in the context of managing everyday business risks.

“As business people, we often focus on sales, stock, and daily operations, but we do not always stop to think about what would happen if something unexpected occurred. Today’s session has shown me that insurance is not just a formality—it is protection and peace of mind,” she said.

She emphasized the need for more public awareness initiatives, especially for small and growing businesses that remain vulnerable to disruption while lacking adequate risk protection strategies.

“Many people have never had this information explained properly. When you understand it well, you realize insurance is not for a few people—it is something many of us need in order to plan better and protect what we are working for,” she added.

The Mwanza insurance clinic reflects a broader shift in how financial institutions engage with communities—moving beyond product promotion to meaningful public education around financial security and preparedness.

With insurance uptake in Tanzania still relatively low compared to the risks faced by households and businesses, industry stakeholders continue to emphasize awareness and trust as key drivers of adoption.

For Stanbic Bank Tanzania, the Mwanza outreach signals that the next phase of financial inclusion may depend not only on access to financial services, but also on how effectively individuals and businesses understand and utilize tools that protect their financial progress.