MTN partners with Sanlam in financial services push
MTN’s SA business, which has a micro-insurance partnership with MMI, has also partnered with Sanlam as part of the network operator’s efforts to grow its financial services operations.
With data and voice services becoming increasingly commoditised, mobile operators are looking to bolster their digital and financial services offerings.
MTN CEO Rob Shuter said in late 2018 that the telecoms company planned to launch mobile money services in its two biggest markets, SA and Nigeria, in the first half of 2019 as it seeks to be “the biggest provider of mobile financial services in Africa”.
MTN said on Tuesday that the partnership with Sanlam would initially allow its customers to access the insurer’s funeral cover and various life products, “with unique extra benefits”.
Customers will be able to sign up for Sanlam’s products via devices linked to MTN’s network.
“For Sanlam, this collaboration represents a meaningful step in introducing new technologies to create game-changing value for the increasing number of digitally astute consumers,” said Jan Steenkamp, CEO of strategic business development at Sanlam Personal Finance.
Shuter said in late 2018 that MTN’s micro-insurance partnership with MMI was gaining traction, which about 2-million policies having been issued by that time.