Telecommunications firm, Bharti Airtel, has joined forces with South African financial services group Sanlam to distribute insurance and health funding products through mobile phones in Africa.
Sanlam's life, general and health Insurance products would be available in seven African countries in which both the companies operate – namely Kenya, Ghana, Tanzania, Zambia, Uganda, Malawi and Nigeria.
According to Margaret Dawes, executive director for Africa at Sanlam Emerging Markets, the partnership is a cooperation agreement, and will see the financial services group sell its life, general insurance and medical offerings to customers through Airtel's network.
"We will develop low cost insurance and health funding products for distribution via Airtel customers, who initially will use their mobile money platform," she said.
The agreement is aimed at enhancing value for Airtel customers and increasing access to insurance, said Chidi Okpala, Airtel's director & Africa head, Airtel Money.
"This will offer our customers in Africa access to a broad range of sophisticated products and services to support their lifestyles," he said.
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