Kenya 🇰🇪 Teachers Are The Most Well Paid In East Africa

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ANALYSIS By Dorris Otieno Kenyan teachers are not only the best paid in East Africa, but also earn almost 12 times more than the country's average pay, a comparative study by Nation Newsplex and the Institute of Economic Affairs reveals. Even as teachers go on strike for the 12th time since their first industrial action in 1962, the analysis, which compares teachers' salaries in Kenya with those of their peers in select African countries , also finds that the lowest-paid teacher in Kenya earns more than the highest-paid teacher in Uganda. Uganda and South Africa were chosen as countries against which to compare wages of teachers because they have the most up-to-date data against which the comparison could be made. While Tanzania was not included in the comparison because only average pay for the year 2011 was available, even its figures indicated that Kenyan teachers earn more than their Tanzanian counterparts. The highest paid Kenyan teacher earns almost 12 times more than the...
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Investment Opportunities Available in Insurance Sector in Tanzania

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Both present and future market environment offer enormous opportunities for growth of the insurance industry. Data obtained from the Tanzania Insurance Regulatory Authority (TIRA) indicated that insurance market size (with respect to premiums) reached TZS 554.4 billion in 2014, increasing by 17.0% from TZS 474.1 billion in 2013, and the TIRA estimates that the Tanzania insurance sector should have grown by 18.0% in 2014 reaching approximately TZS 559.4 billion. Tanzania insurance penetration (premiums as a percentage of GDP) remained at 0.7% in 2014 as recorded in 2013. The Tanzania insurance premium per capita (insurance density) grew by 13.9% to TZS 12,052 in 2014 from TZS 10,582 in 2013. General insurance business showed a growth of 18.0% in gross premium income from TZS 417.7 billion during 2013 to TZS 494.0 billion during the year under review. Meanwhile, life assurance business volume increased by 7.1% from TZS 56.4 billion during 2013 to TZS 60.4 billion in 2014. The growing demand was due to several factors, such as regained public confidence in insurance services, and government’s efforts to create wealth. 

The regulatory environment creates a great opportunity for success in the industry, for example, section 111 of insurance act of 1996 and insurance regulation 33 that requires all insurances for locally based risks must be placed within Tanzanian insurers in order to boost the market. An increasing number of individuals and institutions who need insurance services is a clear indicator of the potential insurance market. Currently, there is a huge population of individuals, groups, and institutions, which is not covered by any insurance plan. This untapped segment may offer a significant potential market if appropriate strategies are carried out to reach them. The insurance sector in Tanzania offers plenty of assurance, reinsurance, and reassurance, business opportunities. To be specific, some areas of investment available in the business of providing insurance services include:

• Accident
• Sickness
• Land vehicles
• Railway rolling
• Aircraft
• Ships
• Goods in transit
• Fire and natural forces
• Damage of property
• Motor vehicle liability
• Aircraft liability
• Liability for ships
• General liability
• Credit
• Suretyship
• Miscellaneous
• Legal expenses
• Assistance
• Life insurance
• Pension and
• Permanent health.

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