Zimbabwe’s 2026 National Budget Statement sets out plans to strengthen the Microinsurance Framework to increase the availability and uptake of microinsurance for low-income households and micro, small and medium-sized enterprises (MSMEs). The Budget notes that at least 70% of the population is uninsured and frames microinsurance as a core social protection tool against financial shocks. The Budget highlights the role of microinsurance in mitigating risks including illness, death, property loss and crop failure, and links the planned changes to refining the regulatory environment and promoting innovation in product design so insurers can develop products tailored to low-income households and SMEs. It also reports industry growth between 30 September 2024 and 30 September 2025, with the insurance sector’s asset base increasing about 50% from around ZiG20 billion to ZiG30 billion and US$-denominated revenue rising about 17% to around USD 275 million for the nine months ended 30 September 2025. Pension fund assets are reported at about ZiG75 billion (approximately USD 2.8 billion using the official exchange rate), up about 40% from about ZiG54 billion a year earlier, with total expenditure of USD 172.87 million over the period and USD 130.7 million (75.6% of total) incurred towards benefits.
Zimbabwe Insurance and Pensions Commission 2025-12-03
Zimbabwe Government plans to strengthen the microinsurance framework to expand cover for low-income households and MSMEs
Zimbabwe's 2026 National Budget Statement plans to enhance the Microinsurance Framework to boost access for low-income households and MSMEs, addressing the 70% uninsured population. It emphasizes microinsurance as a key social protection tool and aims to refine regulations and foster product innovation. The insurance sector saw significant growth, with assets rising 50% to ZiG30 billion and US$-denominated revenue increasing 17% to USD 275 million as of September 2025.