MUA’s East African subsidiaries progressed well in 2021, despite some challenging market conditions. The year was marked by the integration of the MUA Kenya and Saham Kenya teams, who have been operating from their new building since August 2021. As was previously announced, this integration meant some important leadership changes in Kenya and regionally.
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Ashraf Musbally, previously CEO of MUA Kenya took up his new responsibilities as CEO of the group’s Tanzanian operations from August 2021, based in Dar es Salaam, Tanzania. He retains his role as Regional CEO for East Africa. Tanzania is MUA’s second biggest market in the region, with a local market share of about 5% and currently the 5th largest insurer in the country. This is a key market for MUA, with enormous potential for growth in the coming years. Ashraf is an MUA veteran, having Joined La Prudence (Mauricienne) Assurances (now part of MUA) in 1997 to manage and develop its health insurance department. He was appointed Chief Operations Officer of the General Insurance business in 2004, taking over the responsibility of the General Insurance Underwriting Department in 2012. He was promoted to Head of General Insurance in 2014. He was appointed CEO Kenya & East Africa in 2016, developing MUA’s biggest East African entity until its merger with Saham Kenya. |
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Lydia Kibaara – Nzioki, MUA Kenya Following the integration of the Kenyan operations, Lydia Kibaara – Nzioki was appointed Managing director of the merged entity. The former Saham Kenya Managing Director brings with her a wealth of experience in Kenya and regionally. She previously served as the Regional Head of Medical for East Africa & Mauritius at Jubilee Insurance, where she developed the business to become a clear market leader. Lydia was appointed MD of Saham Kenya in 2014, overseeing a period of important transition for the business through its acquisition by Sanlam and subsequently MUA. Lydia is well known in the industry for her invaluable and transformational leadership, ability to deliver exceptional performance for business and her clear track record of turn-around and growth in her various roles. |
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Our operations in Rwanda also saw a change in leadership with the arrival of Konde Bugingo, who was appointed Managing Director of MUA Rwanda in November 2021. After gaining experience in Europe, he spearheaded transformation projects at Banque Populaire du Rwanda as Chief Operating Officer. He then served as CEO of Rwanda's national payments switch before becoming CEO of Atlas Mara’s Commercial Bank in Rwanda. He has extensive boardroom experience in various sectors, combined with two decades of business executive experience in Europe and Africa in financial services, mergers & acquisitions, and expansion. |
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The consolidation of MUA’s leadership talent in East Africa bodes well for the group’s regional ambitions, pursuing growth and market share objectives in the years ahead. MUA Uganda’s Managing Director Latimer Kagimu Mukasa completes the leadership team in East Africa. Together they will be focused on harnessing the insurance potential of the four countries in which MUA operates, supported by digitalisation initiatives, enhanced distribution channels and a customer-centred product offering. |
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