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Stima Sacco bets on insurance brokerage

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Stima Sacco CEO Gamaliel Hassan says insurance business is critical to supporting the Sacco's mandate of offering savings and credit solutions. [File, Standard]

Stima DT Savings and Credit Cooperative Society Limited (Stima Sacco) has converted its insurance arm into a fully licensed brokerage, giving it freedom to shop the market rather than sell for a single insurer. 

The Sacco announced that the conversion to Mpawa Insurance Brokerage, a fully-fledged insurance subsidiary, marks a shift to financial cooperatives are evolving beyond savings and loans into full service financial ecosystems.

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