Dar es Salaam, Feb. 22 -- ZANZIBAR: ZANZIBAR President Hussein Mwinyi has called on insurance providers in the country to innovate and develop affordable insurance products that can be widely accessed by all citizens.

Dr Mwinyi made the call on Thursday when he officiated at the function held to release the 2023/2024 Tanzania Insurance Market Performance Report, saying expanding insurance coverage would contribute to economic growth for both individuals and the nation.

In 2023, the insurance market in Tanzania grew by 7.4 per cent, with its contribution to the national GDP rising from 1.99 per cent in 2022 to 2.01 per cent in 2023.

Investment levels in the sector also saw a significant increase.

President Mwinyi commended stakeholders...