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TAKAFUL INSURANCE OF AFRICA
Many businesses today claim to embrace sustainability, but few translate those commitments into real impact, thus leaving stakeholders skeptical about corporate sustainability promises. True ESG leadership requires transparency, ethical governance, and tangible impact – especially in the financial sector, where trust is paramount.
Under the leadership of CEO Sumayya Hassan, Takaful Insurance of Africa (TIA) shows that sustainability is not just a compliance requirement – it is a business strategy delivering results. From climate-resilient insurance solutions to inclusive financial products and digital transformation, TIA demonstrates that ethical and sustainable practices can drive profitability, social impact, and long-term resilience.
TIA recognises the pressing global issue of climate change and is committed to minimising its environmental footprint. Under Sumayya’s leadership, the company has taken steps to reduce energy consumption and promote resource efficiency in its offices and operations.
TIA’s role as a Takaful insurer positions it uniquely to contribute to environmental sustainability. By design, TIA is a Shari’ah-compliant cooperative model, emphasising mutual responsibility and collective action. The company has been exploring innovative ways to integrate sustainability into its products, such as offering micro-insurance solutions for communities affected by climate-related risks by ensuring that its products are both responsible and responsive to the challenges posed by climate change.
TIA’s Index-Based Livestock Takaful (IBLT) is a pioneering climate-resilient, parametric insurance solution designed to protect pastoralist communities from the economic devastation caused by drought. Using advanced satellite technology to monitor grazing conditions, IBLT automatically triggers payouts when critical drought thresholds are reached, ensuring timely financial support without the need for traditional claims. Operating across more than eight counties, the program safeguards thousands of livelihoods, enhances food security, and empowers pastoralists to thrive in the face of climate change. Aligned with Sustainable Development Goal (SDG) 13 (Climate Action), IBLT is a vital tool in the fight against the growing impact of climate-related risks.
TIA has significantly minimized its environmental footprint through innovative Go-Green initiatives and a commitment to digital transformation, aligning with SDG 12 (Responsible Consumption & Production). By adopting 90 percent paperless operations through digital insurance certificates and automated workflows, the company has eliminated excessive paperwork while boosting operational efficiency. Additionally, TIA’s responsible e-waste management and recycling policies further reduce its environmental impact. These sustainability efforts strengthen TIA’s position as a responsible corporate citizen, setting an example for the takaful and broader insurance industry to integrate eco-conscious practices into their operations.
At the heart of TIA’s mission lies a deep commitment to social responsibility and community engagement. TIA’s efforts to improve financial inclusion are pivotal in empowering underserved communities, especially in rural areas. By offering accessible Shari’ah-compliant takaful solutions, TIA helps ensure that participants (individuals and businesses) in these communities can manage their risks effectively, contributing to greater financial resilience.
Committed to SDG 1 (No Poverty) and SDG 5 (Gender Equality), TIA empowers underserved communities by providing accessible financial protection and fostering economic inclusion. Through MicroTakaful, TIA offers affordable insurance to low-income earners, small businesses, and women entrepreneurs, ensuring their financial security. The Social Takaful program supports women’s groups with Shari’ah-compliant loans, encouraging economic growth and financial empowerment. Additionally, Village Insurance Saving Accounts (VISAs) are dedicated savings accounts that help women in saving groups manage indirect risks by covering the cost of takaful solutions. IBLT Plus further enhances these efforts by bundling index-based livestock takaful with personal accident coverage and a savings component, extending the safety net for vulnerable communities.
Through health awareness campaigns, TIA has reached over 50,000 individuals, promoting preventive care and well-being. The company also offers financial literacy training, equipping thousands with knowledge on Shari’ah-compliant finance solutions, fostering greater economic inclusion. Additionally, TIA provides disaster relief support, aiding vulnerable communities during crises and economic hardships. In its dedication to social causes, TIA supports charitable organisations and initiatives that address pressing societal issues, helping to alleviate poverty and uplift vulnerable populations. Beyond providing financial solutions, these initiatives align with SDG 10 (Reduced Inequalities).
Strong governance forms the backbone of TIA’s operations, with Sumayya’s leadership driving transparency, accountability, and ethical business practices that sustain stakeholder trust. As a dual-regulated entity under both Shari’ah Compliance and the Insurance Regulatory Authority (IRA), TIA adheres to stringent governance frameworks guiding its decision-making and business activities. The Shari’ah-compliant nature of TIA’s business model ensures that all products and services are ethically sound, socially responsible, and aligned with Islamic finance principles, positioning the company as a role model in the Islamic finance sector. As a Takaful provider, TIA emphasises fairness, risk-sharing, and ethical investment, operating with full transparency while avoiding speculative ventures. Its governance framework, aligned with both the IRA and the Shari’ah Compliance Council, ensures robust risk management and reflects a commitment to sustainable, impact-driven financial solutions. Through this alignment, TIA demonstrates that ethical governance and business success can thrive together, embodying the principles of SDG 16 (Peace, Justice, and Strong Institutions).
TIA’s governance extends beyond compliance, aiming to shape the future of ethical finance in Africa. Ethical leadership frameworks align business decisions with sustainability goals, and employee development programs foster a workforce committed to these values. TIA is also scaling digital adoption to ensure inclusivity, while integrating climate-conscious financial products that support long-term environmental goals. By refining its ESG strategies and adapting to evolving regulations, TIA demonstrates that sustainability is a business advantage that drives growth, strengthening its role as a leader in responsible finance. This approach underscores TIA’s commitment to SDG 8 (Decent Work & Economic Growth), proving that sustainability and business success can coexist seamlessly.
As the financial sector intensifies its focus on ESG commitments, TIA, under the visionary leadership of Sumayya Hassan, has firmly established itself as a frontrunner in financial inclusion, environmental stewardship, and governance excellence. Sumayya’s thought leadership continues to drive TIA’s innovative approach, positioning the company as a leader in sustainable finance and setting new benchmarks for responsible corporate practices.
AUTHOR: TAKAFUL INSURANCE OF AFRICA
EDITOR: HILDA NTHENYA
