Bumaco Insurance and Bumaco Life Actively Participate in the 4th Forum on Tanzanian Participation in the Mining Sector
- Date 17-06-2025
Mwanza, June 2025:
Bumaco Insurance and Bumaco Life Assurance fully participated in the 4th Forum on the Implementation of Tanzanian Participation in the Mining Sector, organized by the Ministry of Minerals in collaboration with various industry stakeholders. The forum took place in Mwanza and brought together a diverse group of participants, including miners, investors, contractors, financial institutions, and insurance companies.
Through their involvement, Bumaco Insurance and Bumaco Life showcased the significant role the insurance sector plays in strengthening mining activities by providing education on products and services designed to reduce risks and enhance the safety of mining operations. The Bumaco exhibition booth attracted numerous stakeholders who received detailed information about the following insurance services:
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Motor and mining equipment insurance
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Property and machinery disaster insurance
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Life insurance for mine workers
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Personal accident insurance for miners
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Bond insurance
Company experts also actively participated in professional discussions, delivering presentations and explanations on the importance of financial protection against unforeseen disasters. Bumaco emphasized that insurance is not a cost but an investment in the safety and prosperity of the mining sector.
One of Bumaco’s marketing specialists was quoted saying:
"For the sustainable development of the mining sector, it is essential to have strong risk management and financial protection systems. Insurance is not a cost — it is an investment."
The forum also provided Bumaco with the opportunity to strengthen relationships with both new and long-term stakeholders, including mining companies, equipment suppliers, government and private organizations, and small-scale miners.
Bumaco Insurance and Bumaco Life remain committed to leading efforts in supporting government and private sector initiatives to ensure Tanzanians benefit fully from the nation’s resources through robust insurance protection.