• Open for business?

    SA needs to go clean up its act to deliver on its brand promise and invitation, says Solly Moeng.

  • Book review

    Through persuasion, good leaders can become the best leaders, says Ian Mann.

  • Water shortage

    Climate-related consequences are raising food prices, joblessness, crime, and instability.

All data is delayed
Loading...
See More

MTN pilot makes insurance mobile

Mar 23 2011 11:32
Sapa

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 143
Change 1
% Change 1
Cumulative volume 4398734
Market cap 0

Last Updated: 10-02-2016 at 02:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Billions for MTN Nigeria expansion

MTN threatens to cut off rival

Leadership changes at MTN

MTN boasts strong earnings rise

Telkom may tap Vodacom exec as CEO

MTN profit up 20%, dividend hiked

 
Frankfurt - MTN Group [JSE:MTN] has teamed up with Hollard Insurance and MFS Africa to launch a mobile money life insurance project in Ghana and plans a further roll-out of the programme later this year.

Starting on Wednesday, Ghanaians can buy "mi-life" life insurance for 1 to 5 cedis for two people - the holder and one next of kin - with a coverage of 500 to 2000 cedis ($765.5-$3 062), the companies said.

"Ghana is expected to have 13% GDP (gross domestic product) growth this year and we are seeing a lot of enthusiasm about financial services," said Bruno Alpaka, general manager for MTN mobile money in Ghana.

Customers can purchase the insurance through a mobile money agent or directly via their cellphones protected by a PIN code.

"We are encouraging customers to go through agents because they also have an educating role," Alpaka said.

While virtual transactions of cash via cellphones have mushroomed across the continent as millions of poor Africans do not have bank accounts, MTN said the mobile insurance project was a first.

"We should be able to extend this to every African country," said MFS Africa CEO Dare Okoudjou, adding that an indication of how customers were taking to the project would be seen in six to 12 months.

MTN is Africa's biggest wireless operator, active in 21 countries in Africa and the Middle East.

Alpaka said a broader roll-out in western African countries would be started first.

Zimbabwe's mobile operator Econet Wireless is trying a different approach with Trustco Group and insurance company First Mutual Life.

Called EcoLife, it gives Econet subscribers access to life insurance via prepackaged airtime on their cellphones while building customer loyalty.
mtn  |  econet  |  ghana  |  life insurance  |  mobile money

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The regulation of WhatsApp and other OTTs is:

Previous results · Suggest a vote

Loading...