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The Ministry of Finance and National Planning has urged insurance companies in Zambia to broaden their operations into regional and international markets as a demonstration of the sector’s maturity and resilience.
Permanent Secretary for Economic Management and Finance, Mulele Mulele, said the industry had grown significantly in recent years — from just eight firms to 32 — but needed to aim higher.
“We would like to see one of our Zambian companies growing across borders and expanding within the region and beyond,” Mulele said on Wednesday evening in Livingstone at the 2025 Insurance Awards dinner.
He commended the ceremony as an important platform to celebrate institutions and individuals that safeguard lives, protect businesses, and contribute to an inclusive insurance sector.
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“As we celebrate tonight, let us remain mindful that the future of our industry rests on our collective ability to adapt, innovate, and uphold professionalism,” he added.
Insurers Association of Zambia (IAZ) president, Irene Muyenga, said the awards were not just about recognition, but also about motivating institutions to uphold best practices while highlighting the sector’s achievements.
“Beyond recognition, these awards provide a benchmark for others to aspire to while reminding us of the progress we have made and the potential that lies ahead,” Muyenga said.
Professional Insurance Authority (PIA) Deputy Registrar, Brian Machishi, emphasized that the regulator wanted the awards to remain industry-driven to ensure sustainability.
“Awards are not meant to foster unhealthy competition but to inspire innovation, efficiency, and better service delivery, especially in claims settlement,” Machishi said.
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