After micro-loans, MTN sets sights on micro-insurance

January 19, 2017 in Business, Companies, Financial Services by Editor

Kampala January 19 – Four months after venturing into micro-lending with the Commercial Bank of Africa, MTN Uganda this week announced a partnership with insurer aYo under which it will provide mobile money linked micro insurance services.

The first to market product will provide life or medical emergency insurance cover to MTN clients or their nominees.

It is hoped that the hassle-free subscription system provided by MTN’s automated engine will help lift Uganda’s insurance coverage levels from the dismal 0.756 percent of the population.

“We are very excited to bring these products to our customers in Uganda because the products will not only help you look after your loved ones, customers will also be rewarded every time they interact with either of the products,” Thomas Sekanwagi, the Marketing Manager for aYo said.

“This will further expand and strengthen our bouquet of mobile money financial services offered,” said MTN Uganda chief executive Wim Vanhelleputte.

MOKash, MTN Uganda’s micro savings and loan product has seen runaway success with 1,514,235 subscribers signed up at the end of December 2016.