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SUMAYYA HASSAN
CEO, TAKAFUL INSURANCE OF AFRICA
Since her appointment as the CEO of Takaful Insurance of Africa (TIA) in July 2019, Sumayya Hassan has redefined the organisation’s role within East Africa’s Islamic finance landscape. As the first female CEO of TIA, she has driven remarkable growth while solidifying the company’s commitment to ethical finance.
A lawyer by profession, Sumayya holds a Master’s degree in Law from the University of Nairobi. She is also an esteemed Eisenhower Fellow and has studied at prestigious institutions, including the Saïd Business School and Stanford University.
From the outset, Sumayya has prioritised enhancing TIA’s Shari’ah governance to meet the ethical demands of a Takaful insurance provider. She appointed a dedicated Shari’ah Compliance Manager and filled a key vacancy on the Shari’ah Supervisory Council (SSC) with a respected scholar. Under the guidance of Professor Achene Lahsasna, a Shari’ah Advisory Leadership Award recipient, the SSC ensures that TIA’s products and services align with Islamic principles.
Recognising a knowledge gap regarding Shari’ah compliance among employees, Sumayya implemented a comprehensive training program to equip staff with a clear understanding of TIA’s values and offerings, ensuring consistent and informed representation across the organisation.
Under Sumayya’s leadership, TIA has embraced product diversification and digital innovation. Initiatives such as TIBA, which provides affordable healthcare coverage, and Motisure, a convenient, pay-as-you-go personal accident micro-insurance solution offering passengers coverage during commutes, demonstrate TIA’s responsiveness to evolving participant needs. The revamped Dada Takaful program, tailored specifically for women, further highlights TIA’s commitment to inclusivity and community-focused solutions.
TIA’s Index-Based Livestock Takaful (IBLT), is a standout example of technology transforming service delivery. By employing satellite imagery for timely compensation, IBLT enhances risk management, allowing participants to confidently address financial uncertainties. This innovative approach not only streamlines processes but also empowers participants to navigate challenges efficiently.
To expand TIA’s reach, Sumayya has established new distribution channels and franchises, making Takaful products accessible to underserved regions, thus reinforcing TIA’s commitment to inclusivity.
In 2021, Sumayya led TIA’s Organisational Culture Study to assess the company’s work environment and identify areas for improvement. Insights from this study informed the Takaful 3X transformation plan, emphasising growth through research, innovation, and strategic employee development.
She introduced a blended training program that integrates e-learning with hands-on experience, ensuring employees are well-equipped to meet the demands of a competitive market. A performance-based reward system acknowledges individual contributions, fostering a culture of excellence and accountability.
Sumayya’s commitment to financial inclusivity is evident in her efforts to bridge the gap in Shari’ah-compliant financial solutions across East Africa. Under her leadership, TIA appointed board members with expertise in law, Shari’ah compliance, and finance to establish the Takaful Umbrella Fund (TUF).
She has championed the development of innovative shari’ah-compliant financial solutions, including Takaful Africa Sacco, a unique savings and credit cooperative tailored for Muslim investors and underserved communities. Additionally, she is spearheading the exploration of new halal investment schemes designed to offer ethical wealth management options. These initiatives reflect her commitment to making accessible, values-driven financial services a reality for diverse communities.
As Editor-in-Chief, Sumayya launched TIA’s eMagazine in 2020, a quarterly publication aimed at educating and engaging stakeholders on Takaful insurance. By sharing knowledge and industry updates, the magazine fosters a deeper understanding of Takaful’s unique benefits and growth potential.
Her leadership has garnered numerous awards for both TIA and herself, including Best Takaful Operation and recognition as one of the Most Influential CEOs. Sumayya has shared her expertise at international conferences, discussing Islamic finance, leadership, and women’s economic empowerment.
Sumayya Hassan’s leadership has fortified TIA’s operational and financial standing, establishing the company as an ethically driven organisation aligned with community values. Her approach seamlessly blends ethical governance, innovative strategies, and inclusive growth, elevating TIA’s profile and impact. Sumayya’s tenure exemplifies the power of responsible, visionary leadership, transforming organisations and communities while setting a benchmark for future leaders in the industry.
AUTHOR: TAKAFUL INSURANCE OF AFRICA
EDITOR: HILDA NTHENYA
