Unguja. The Zanzibar government has reiterated its commitment to adopting digital technology, citing its role in enhancing security and driving economic growth.
Speaking during the launch of a mobile payment service for fuel purchases via Mixx by Yas in Unguja on March 2, 2025, Second Vice President Hemed Suleiman Abdulla commended Zanzibar Petroleum Ltd for introducing the service, saying it reflects the country’s progress in digital transactions.
“Zanzibar is making great strides in technology. This initiative is proof of the ongoing digital transformation, aligning with global advancements,” said Mr Hemed.
He said that mobile fuel payments will enhance transaction security, reduce reliance on cash, and enable citizens to purchase fuel quickly and efficiently via mobile phones.
He further directed the company to ensure that all security measures are in place at fuel stations to protect users of the service. He also urged other fuel retailers in Zanzibar to embrace electronic payment systems to support the government’s financial inclusion goals.
“I encourage citizens to take full advantage of this service, as it will simplify payments, enhance transparency, and secure their funds,” he added.
Mixx by Yas Zanzibar regional director, Azizi Said Ali, reaffirmed the company’s commitment to working with the government and other institutions to expand digital payment solutions across various sectors.
“We are ready to collaborate in enhancing digital transactions for service provision, ensuring trust and security for both providers and consumers,” he said.
He added that the company is open to partnerships aimed at improving essential services such as electricity, water, and fuel through digital payment solutions.
Zanzibar Petroleum’s Tanzania regional manager, Altaf Jiwan, assured customers of the company’s commitment to delivering efficient, fast, and high-quality services. He noted that the mobile payment service was designed to offer convenience, safety, and round-the-clock accessibility.
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Britam half-year net profit hits Sh2bn on higher investment income
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The rise in half-year net profit from Sh1.64 billion posted in a similar period last year came on the back of net investment income rising 2.5 times to Sh13.27 billion from Sh5.3 billion.
“We are confident in the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and the region. Our business is expanding its revenue base while effectively managing costs,” Britam Chief Executive Officer Tom Gitogo said.
“Our customer-centric approach is fueling growth in our customer base and product uptake, particularly through micro-insurance, partnerships, and digital channels.”
The investment income growth was fueled by interest and dividend income rising 34 percent to Sh9.1 billion, which the insurer attributed to growth in revenue and the gains from the realignment of the group’s investment portfolio.
Britam also booked a Sh3.79 billion gain on financial assets at a fair value, compared with a Sh1.8 billion loss posted in a similar period last year.
The increased investment income helped offset the 12.7 percent decline in net insurance service result to Sh2.13 billion in the wake of claims paid out rising at a faster pace than that of premiums received.
Britam said insurance revenue, which is money from written premiums, increased to Sh17.8 billion from Sh16.6 billion, primarily driven by growth in the Kenya insurance business and regional general insurance businesses, which contributed 30 percent of the revenue.
The group has a presence in seven countries in Africa namely Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.
Britam’s insurance service expense hit Sh13.6 billion from Sh11.3 billion, while net insurance finance expenses rose 2.6 times to Sh12.3 billion during the same period.
“Net insurance finance expenses increased mainly due to growth in interest cost for the deposit administration business driven by better investment performance. This has also been impacted by a decline in the yield curve, which has led to an increase in the insurance contract liabilities. The increase has been offset by a matching increase in fair value gain on assets,” said Britam.
Britam’s growth in profit is in line with that of other Nairobi Securities Exchange-listed insurers, which have seen a rise in profits.
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CIC Insurance Group posted a 0.64 percent rise in net profit to Sh709.99 million in the same period as net earnings of Liberty Kenya nearly tripled to Sh632 million from Sh213 million, while Sanlam Kenya emerged from a loss to post a Sh282.2 million net profit.
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