• Tamini General Insurance has launched operations as Uganda’s first Islamic insurer.

• The company offers Takaful, a risk-sharing model aligned with Islamic finance principles.

• Authorities see the sector as a way to expand insurance access in a market with low coverage.

Tamini General Insurance began operations in Uganda on Tuesday, March 3, becoming the country’s first Islamic insurance provider. The company received approval in late November 2025 from the Insurance Regulatory Authority of Uganda (IRA).

Tamini is a subsidiary of Salaam Group, a financial services group active in Djibouti, Malaysia, Kenya and Uganda. Its launch introduces a new insurance model to the Ugandan market based on Islamic finance principles.

The company operates under the Takaful system, which follows rules derived from Sharia law. The model excludes interest-based transactions and investments in sectors considered prohibited under Islamic law. Instead of transferring risk from the policyholder to the insurer, Takaful contracts rely on a system of shared risk among participants.

Ugandan President Yoweri Museveni attended the launch ceremony for Tamini General Insurance.

A Step in Uganda’s Islamic Finance Expansion

Tamini’s entry comes as Uganda gradually opens its financial system to Islamic finance.

In 2023, Parliament approved reforms to the country’s Financial Institutions Act, allowing financial products that comply with Sharia principles. That same year, Salaam Bank became the first licensed Islamic bank in Uganda after acquiring Top Finance Bank and receiving authorization from the Bank of Uganda in September 2023.

A Tool to Broaden Insurance Access

Uganda’s insurance market has grown in recent years but still covers a small share of the population.

According to IRA Director General Ibrahim Lubega Kaddunabbi, gross written premiums reached about 2 trillion Ugandan shillings in 2025, compared with 1.1 trillion in 2021 and 240 billion in 2020. Despite that growth, insurance penetration in the country remains below 1%.

Kaddunabbi said the introduction of Takaful could help expand access to insurance by attracting customers who prefer financial products aligned with religious principles.

The development of Islamic insurance could also support broader financial inclusion. A wider range of insurance products may help households protect their income, give businesses better tools to manage risk and contribute to the financing of the economy.

Chamberline Moko