Collins Hamusonde:
Steady at the Helm
Cargo88 is one of those places in Lusaka that makes you pause. Hidden behind the polished storefronts of East Park Mall, the container-clad exterior gives an industrial feel, unapologetically different, as if to say: “This is not your average spot.” It reminded me of Truth Coffee, my favourite coffee spot in Cape Town – edgy, warm, and intentionally designed.
Here, I met Collins Hamusonde, the new Chief Executive Officer of ZSIC Life Plc. Over pork chops and mashed potatoes for me, and sirloin with fries for him, we got talking. I ordered a Red Bull with ice; he went with a Tonic and Coke. Something about that combination told me he was relaxed, present, and not looking to impress. We were just two professionals, exchanging stories.
Collins joined ZSIC Life in January 2025 after an impressive 11-year stint at ABSA, where he most recently served as CEO of ABSA Life. Before that, he cut his teeth with recognisable industry names. You could say he’s a purebred insurance man, though, interestingly, that wasn’t always the plan.
‘’Don’t miss a deadline. Everything else can be negotiated. I like to listen and get involved, but I trust my people to get the work done.”
— Collins Hamusonde,
Chief Executive Officer, ZSIC Life.
He grew up in a disciplined household. Born in rural Southern Province, he is a self-proclaimed village boy—his mother, a teacher; his father, a mechanical engineer and professor. Books were everywhere. Engineering texts and theory manuals are the kind of material that shapes methodical thinkers. But Collins, even early on, knew he wasn’t wired for torque and tension rods. He was drawn to business.
“I believe my dad preferred the sciences for me, while my mother was clear that I was born for TV. Unfortunately for them, I told them I wanted to do business administration. They had created an environment where you decided what you wanted and went for it, so they supported me until I could support myself.”
Insurance, however, was an accident. Or perhaps a divine test of grit. A college lecturer once told him insurance was the hardest thing to sell. And yet, that’s where he landed. His first job was selling policies door to door in the Zambian heat, a masterclass in rejection.
That rough start gave him an edge because four years in, something clicked. He stopped treating insurance like a starter job, and started seeing it as a career. The more effort he put in, the more it paid off. He was hooked.
“In insurance, the reality is hard. People don’t give you the time or the respect. But I stuck with it and fell in love with the industry. I decided to dig my heels into this and see where it would take me.”
That conviction and a thirst to grow propelled him up the ladder. He moved from African Life (now Sanlam) to Metropolitan, and eventually ABSA, where he joined the Life Insurance division. Eventually, he had the opportunity to act as CEO of ABSA Life, and he took it. But even he admits he wasn’t ready. The shoes were too big. He laughs about it now.
“Within three months of acting, I realised I wasn’t ready. It took a lot to admit that it was too much for me. I would sit in meetings to explain the business, then realise that my explanation fell short. The more it happened, the more I realised it was not due to my inability, but rather my lack of exposure. Ultimately, I wasn’t given the role, but I was not disappointed. I knew I needed to bridge the gap.”
It was a turning point. He enrolled at Rhodes Business School in Grahamstown, South Africa. The MBA programme was intense and, by his own account, humbling. He found himself in study groups with younger, more erratic thinkers. They weren’t as methodical, but they still managed to get results. That contrast expanded his perspective.
As fate would have it, two years later, the CEO job circled back around, and this time, he was ready and cinched it. It was the culmination of years of preparation, learning, failing, and rising again.
Eleven years at ABSA is nothing to sneeze at, so his move to ZSIC Life, a 58-year-old state-owned insurer, caught many off guard. Why leave a blue-chip private-sector company for a government parastatal?
He smiles knowingly. Even he admits: it’s an odd move.
“ZSIC Life is a parastatal, while my other roles were part of a private group with systems and structures already in place. At ZSIC Life, you have to make most decisions without those structures to rely on. I have to think a lot more in this role, but working with a new team to understand their roles and implementing my ideas has been rewarding so far.”
ZSIC Life, like many government-owned companies in Zambia, has seen better days. For years, it was plagued by inefficiencies, delayed claims, outdated systems, and a disconnect from the very people it was meant to serve. But Collins saw a different opportunity: to build and repair. Eight months in, his mission is clear: restore operational efficiency, increase revenue and profitability, and leverage technology.
When he arrived, ZSIC Life owed millions in unpaid claims. In just six months, every outstanding claim was cleared. The business is now current. That alone is no small feat.
“We paid more than K150 million in claims by April 2025, which has changed the perception. Ultimately, insurance is about meeting customers’ needs when they need it most. The internal culture is just as important. I want to see staff proudly walking the streets, not running away from customers. Those days are gone.”
Collins leads a team of over 100 people. Many of them have been with ZSIC Life for decades. He understands that trust is not given, but earned, and he has travelled across the country to meet staff in person, branch by branch. The feedback from the field, not boardroom presentations, has shaped his early strategy.
His leadership style is versatile. He adapts to context. He knows when to lead from the front and when to step back. Above all, he leads with clarity. His vision is persuasive, rooted in transparency.
“I have principles that should not be broken, such as don’t miss a deadline, don’t be late for any of my meetings, and come prepared when you step into my office. Everything else can be negotiated. I like to listen and get involved, but I trust my people to get the work done.”
Away from the office, Collins lives a grounded life. He does not indulge side hustles or the usual weekend farming, a rarity in today’s corporate Zambia. He has shown that excellence in one thing can still make room for a whole and meaningful life. His time outside work is for faith and family. He’s an active member of God’s Envoys, a singing group at his church and attends practice every Thursday and Sunday. He finds release in music and connection in his community.
He’s also a passionate home chef. One of his dreams is to open a small restaurant after retirement. The concept? No menus. You eat what’s been made that day. I joked that his wife must be lucky to have a personal chef. He laughs in agreement. But more seriously, he credits her as one of his greatest supporters. The one who listens, even when she doesn’t understand the specifics of his work.
As we wrap up, I realise how much of this conversation has stuck with me. Collins and I are about 10 years apart. But the clarity with which he’s approached his life, work, and leadership left a real impression. He’s thoughtful, strategic, humble, and quietly confident.
ZSIC Life’s past may be checkered, but under Collins’s watch, the future looks promising. As the world shifts, with the West becoming more inward-looking, so should Africa, particularly Zambia, with a focus on building strong local institutions. The future won’t be imported. It will be built from the inside out.
ZSIC Life is one of those legacy institutions that, if fixed, could become a cornerstone of local resilience. And Collins Hamusonde? He’s the man writing that next chapter.
“We paid more than K150 million in claims by April 2025, which has changed the perception. Ultimately, insurance is about meeting customers’ needs when they need it most.”
— Collins Hamusonde,
Chief Executive Officer, ZSIC Life.
Financial Literacy is Key
Collins is passionate about delivering financial literacy talks, especially to the youth. “We have an opportunity to change their mindset. They must understand the value of adopting the entire financial structure, not just banking. It includes pensions, insurance, and investments. Older people have to catch up because only two things happen as you grow older, you either die or retire. So you must have a plan for both. You need to sustain a livelihood even after retirement.”
An Expert’s Insight
General insurance is easier to sell as it is often mandatory. Car, property, and medical insurance—people see the logic, but not when it comes to life insurance. Collins believes the tide is turning. Life insurance today includes wellness, medical support, and employee benefits. The market is growing as financial inclusion expands, currently sitting at 70% according to the last Finscope study. Ten years ago, inclusion was at 60%. That 10% shift is massive. As more Zambians access banking services, insurance will follow.
Planning for Your Future
According to Collins, people need to know what they’re buying, what it protects, and how it fits into their long-term financial plans. This is where ZSIC Life has its most significant role to play: demystifying insurance for the everyday Zambian.
Cargo88 Hotel Situated in the heart of Lusaka, Cargo 88 Hotel boasts 71 rooms and a rooftop bar and restaurant. Our unique boutique hotel, made from repurposed shipping containers, offers a blend of contemporary design, comfort, and sustainability. Guests can enjoy stylish accommodations, conference spaces, a spa, and access to a high-end gym. It is conveniently located within East Park Mall, providing a unique experience for all travellers.
