Vodacom Tanzania launches Faraja Bima in Dar es Salaam

Mr. Rene Meza, the Vodacom Tanzania General Manager

THE necessity of Insurance to business entities as well as ordinary people, Vodacom Tanzania in collaboration with Heritage Insurance Company have launched an Insurance agency dubbed as ‘Faraja Insurance’ (Faraja Bima) for its customers in Tanzania.

The colourful event was held at Kilimanjaro Hotel  yesterday in Dar es Salaam and launched by the Finance Minister William Mgimwa and by Vodacom Tanzania’s Managing Director, Rene Meza during the launch of the Insurance service.

He said that through the insurance service, Vodacom users can buy insurance plans and pay for their premiums electronically through M-PESA.

“Faraja Insurance will give individuals the option of changing or upgrading their insurance policies as their needs and budgets change,” said Meza.

He said through M-PESA services users can pay for Faraja Insurance ranging from Shs 2,000/= to Shs 9,800/= per month, adding that benefits will range from Shs 500,000/= to Shs 800,000/= for those who join the service.

Meza further added that all customers who conduct at least 10 M-PESA money transfers a month, will receive free insurance cover worth Shs 200,000/= in the following month.

“M-PESA customers can join the service by dialing the M-PESA menu, *150*00# and select the insurance package to purchase and their preferred policy, within 72 hours, the claims will be directly transferred into the M-PESA account,” he clarified.

He also urged customers to ensure that they put their details accurately and understand the terms and conditions of Faraja Insurance through reading Faraja brochures, visiting M-PESA agents as well as Vodacom’s and Heritage Insurance Company’s websites.

For his part the Minister of Finance, Dr William Mgimwa congratulated the two companies for playing a significant role in improving financial services in our country.

“Now that you have merged in financial and insurance services; a positive impact in our economy should be expected as even people in rural areas can now access Insurance services,” he said.

However Mgimwa urged other telecommunication companies to improve their services for the interests of clients and asked other insurance companies to educate people on the whole concept of insurance services and make sure that insurance services are available throughout the country.