Dar es Salaam — Experts in actuarial science, finance and statistics have called for greater investment in accurate, timely and accessible data, saying reliable information is critical for strengthening financial resilience, improving insurance systems and guiding sound policy decisions in Tanzania.
The call was made during the one-day National Actuarial Symposium on Digital Innovation and Data-Driven Financial Resilience, officially opened by Professor Rose Upor of the University of Dar es Salaam, April 24, 2026.
Speaking at the event, Prof. Upor said Tanzania’s ongoing digital transformation offers a unique opportunity to modernize financial systems and expand access to services.
“With the rapid growth of mobile technology and digital financial services, Tanzania is well positioned to move beyond traditional systems and develop innovative and inclusive financial solutions,” she said.
She noted that data has become far more than a by-product of transactions.
“Data is now a strategic asset. When used effectively, institutions can anticipate risks, respond to shocks and build resilience. This is especially important in designing inclusive insurance products and managing pension liabilities,” she said.
The symposium brought together academics and actuarial science professionals from institutions including the University of Dar es Salaam, Institute of Finance Management and University of Dodoma, alongside representatives from insurance firms, banks, social security funds, the National Bureau of Statistics and the Tanzania Revenue Authority.
Dr. Marco Mpimbo, Head of the Department of Mathematics at the University of Dar es Salaam, said effective forecasting depends on dependable data systems and strong institutional discipline.
“Good forecasting is not built on luck. It is built on accurate statistics, strong systems and institutional discipline,” he said.
He warned that when data is incomplete, delayed, poor in quality or badly managed, even the most advanced technical systems cannot deliver reliable outcomes.
“The result is weak decision-making in pricing, reserve setting, insurance and pension product design, financial management and even social policy planning,” he said.
Dr. Mpimbo added that actuarial science can play a major role in creating sustainable financial solutions for low- and middle-income citizens through stronger savings systems, investment planning, pensions, insurance and social protection.
The symposium was preceded by a capacity-building workshop held on April 23 at the United Nations Development Programme House in Dar es Salaam. The workshop was organized by the University of Dar es Salaam College of Natural and Applied Sciences, the Department of Mathematics, and the United Nations Development Programme under the Global Actuarial Initiative (GAIN) Programme.
It brought together regulators, insurers, social security funds and academics, and focused on strengthening data analysis and evaluation skills among actuarial scientists in Tanzania.
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During panel discussions, participants from government, academia and the private sector explored ways to bridge the gap between academic theory and professional practice in Tanzania’s actuarial industry.
Students and academics also raised concerns over the absence of a national life table — a key tool used in actuarial calculations involving life expectancy, mortality trends and insurance pricing.
“We Tanzanian actuarial science students still rely on outdated life tables from countries such as the United Kingdom. When will Tanzania have its own life table to support our studies?” asked student Ligembe Dutu.
Responding to the concern, Milimo Mashini of the Population, Census and Vital Statistics Department at the National Bureau of Statistics said the bureau already publishes datasets containing indicators relevant to life table development.
“We produce two annual reports — Tanzania in Figures and the Statistical Abstract. These reports compile indicators from various surveys, including migration, mortality and fertility, which provide a strong foundation for developing a national life table,” he said.
Mashini added that the bureau had taken note of the concerns and was prepared to work with university experts in actuarial science to assess the best path forward.
Participants also commended the National Bureau of Statistics for its efforts in producing and distributing official data, but urged the agency to expand detailed statistics on income, living standards, wages and employment conditions to regional and city levels, rather than relying mainly on national averages.
They said more localized data would support realistic policy decisions, salary structures, allowances and benefits that better reflect the differing economic and social conditions across Tanzania.
