Sanlam and MTN Group are pleased to announce that our strategic alliance to market and
distribute insurance and investment products across Africa has reached a significant
milestone with the fulfilment of the regulatory, competition and other requirements. The
effective date of the transaction is 31 October 2022.
The strategic alliance will be implemented through MTN Group’s InsurTech platform aYo
Holdings (aYo) and each partner will hold 50% of aYo. Through aYo, the alliance will continue to build and develop digital insurance and investment offerings that provide people across Africa with easier access to Sanlam’s products, particularly those people who have typically been unable to access traditional distribution
channels.
MTN Group President and CEO Mr Ralph Mupita said the alliance was aligned to the
Group’s strategic intent to lead digital solutions for Africa’s progress, “We are confident that
this alliance will build and leverage the strengths and assets of both companies to establish
a digital insurance and investment capability across Africa,” Said Sanlam Group CEO, Mr Paul Hanratty.
Hanratty added, “We are delighted to reach such a critical stage in our drive to deepen penetration of insurance and investment products across Africa through strategic partnerships.
We are confident that a strong foundation is in place for this alliance. Sanlam believes that
this strategic alliance with the MTN Group will make a considerable contribution to financial
inclusion in Africa.”
By leveraging off the MTN brand, Sanlam’s licensing, broad product capabilities, financial
services expertise and both group’s geographical footprint across the continent, the alliance
has the potential to pre-empt and adapt to digital disruption in markets where both
companies operate.
