By Our Reporter
President Yoweri Kaguta Museveni on Tuesday officially launched Tamini General Insurance Company, Uganda’s first-ever Sharia-compliant insurance provider, in a historic ceremony held at Millennium Park in Lugogo.
The launch marks a significant milestone in Uganda’s financial sector, introducing Islamic insurance, commonly known as Takaful, into the country’s growing insurance industry. The colorful event drew senior government officials, regulators, leaders from the Muslim community, and executives from Salaam Bank Limited, among others.
The ceremony was organized by the Office of the National Chairman under the stewardship of the Special Presidential Assistant and ONC Manager, Hajjat Hadijah Namyalo Uzeiye.
In her address, Hajjat Namyalo described the launch as a defining moment for Uganda’s Muslim community and the country at large.
She noted that when Tamini first approached the ONC, it was seen not merely as a business venture but as an opportunity to respond to the long-standing demand for financial services aligned with Islamic principles.
“This is what the revolution has always been about, inclusivity, empowerment, and economic liberation for all Ugandans,” she said.
Namyalo emphasized that Tamini will offer protection to ordinary Ugandans, from market vendors and boda boda riders to farmers in rural communities, without requiring them to compromise their faith.
She hailed the President for his trust in grassroots mobilization structures and reaffirmed ONC’s commitment to ensuring that such initiatives benefit citizens at the lowest levels.
The Chief Executive Officer of the Insurance Regulatory Authority of Uganda, Alhaj Dr. Kaddunabbi Ibrahim Lubega, revealed that Tamini was officially licensed on November 20, 2025, following the gazettement of the Insurance (Takaful and Retakaful) Regulations, 2025.
He described the development as the opening of a new chapter in Uganda’s financial landscape.
Under the Takaful model, insurance operations avoid interest-based transactions, excessive uncertainty, gambling, and investment in non-permissible ventures.
Dr. Lubega highlighted the steady growth of Uganda’s insurance sector, noting that gross written premiums have risen from approximately UGX 240 billion in 2020 to about UGX 2 trillion in 2025.
Globally, he added, the Takaful market was valued at USD 36.6 billion in 2024 and is projected to reach USD 75.3 billion by 2033, reflecting strong global expansion.
He also used the occasion to request the President’s support for the rollout of the National Health Insurance Scheme and invited him to commission the newly completed 14-storey Insurance Tower on Lumumba Avenue.
Mr. Ibrahim M. Abdirahman, Chairman of Salaam Bank Limited, said the launch of Tamini Insurance completes the twin pillars of ethical finance in Uganda, banking and insurance.
He recalled that nearly two years ago, President Museveni launched Salaam Bank as Uganda’s first Islamic bank, calling it a transformative milestone. The addition of Tamini Insurance now creates a fully integrated Sharia-compliant financial ecosystem under the Salam Group.
“A farmer can now access halal financing from Salaam Bank and insure his crops through Tamini. This is how we build resilience and contribute to Uganda’s transformation into a producing nation,” he said.
Abdirahman stressed the group’s philosophy that African money must be invested in Africa, pledging long-term commitment to Uganda’s economic growth.
In his remarks, President Museveni commended Salaam Bank for championing interest-free banking, observing that saving and borrowing without interest is a long-standing financial practice that can benefit society beyond religious boundaries.
He noted that government initiatives such as the Parish Development Model are structured without profit motives and revealed that he had previously engaged Muslim leaders on aligning financial empowerment with community values.
The President said Tamini’s role in providing insurance and financial security would strengthen confidence among entrepreneurs and borrowers, encouraging more Ugandans to engage in productive economic activities.
He urged citizens to use borrowed funds responsibly to improve household incomes and drive national development.
Museveni also applauded Hajjat Namyalo for her continued grassroots mobilization and promotion of the NRM manifesto.
Following the launch, Hajjat Namyalo hosted thousands of Bazzukulu and members of the Muslim community to a grand iftar dinner at Millennium Park. The evening featured a wide array of traditional and contemporary dishes and refreshments, symbolizing unity, diversity, and shared celebration during the holy month of Ramadan.
The launch of Tamini General Insurance not only expands Uganda’s financial services sector but also reinforces the country’s commitment to inclusive growth, ensuring that faith-based financial solutions have a firm place in the national development agenda.
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