Sanlam and MTN Group announced Thursday, August 12, that they have entered into a strategic partnership to develop Insurtech in Africa. With this in mind, the South African insurer will offer the South African telecoms operator its services via the mobile phone.
Under the terms of the agreement, Sanlam will provide insurance and digital investment business, which will be an integral part of MTN’s fintech offering.
“We are very proud to be able to partner with MTN to create the best possible range of insurance and investment solutions for consumers. We anticipate strong long-term growth in mobile financial services and insurance, and investments are no exception, ”said Paul Hanratty, Managing Director of the Sanlam Group.
For his part, MTN Group CEO Ralph Mupita has indicated that Sanlam is the ideal partner as Africa’s leading insurance and investment company, and with a key partnership in its strategic approach and execution.
MTN, he points out, has built a large-scale fintech company with more than 100 million wallets, about half of which actively use mobile money services every month, which represents a significant opportunity to further boost the market. financial inclusion through the provision of appropriate insurance and investment solutions.
According to official statistics, MTN InsurTech companies currently have around 6 million active policyholders. This figure will be revised upwards with this new alliance with more than 30 million policyholders by 2025.