MTN MoMo, Sanlam Allianz, AYo Sign MoU

Group photograph of dignitaries after the MoU signing

 

MTN Mobile Money Limited, in collaboration with Sanlam Allianz and AYo Intermediaries Ghana, has signed a Memorandum of Understanding (MoU) aimed at improving insurance coverage for its agents across Ghana.

During the signing event, Abdul Razak Ali, Chief Commercial and Mobile Money Officer of MTN Mobile Money Limited, highlighted the company’s commitment to ensuring the financial security of its agents.

“Since 2020, we have had an insurance policy for our agents. However, after engaging with them, we identified areas for improvement. We took their feedback into account and collaborated with our partners—Sanlam Allianz and AYo—to introduce a revised policy that offers enhanced benefits, extending beyond life insurance to include coverage for permanent disability and other critical claims,” he stated.

Mr. Ali assured attendees that MTN has already paid the annual premium and will continue to renew it each year. “The premium paid exceeds GH¢500,000, and we will regularly review and adjust it as we recruit more agents. Importantly, this insurance is completely free for agents. Those seeking additional coverage can opt for a top-up policy,” he added.

Under the new scheme, agents are entitled to GH¢20,000 in life insurance benefits in the event of death and up to GH¢25,000 for permanent disability. In cases of hospitalization, the policy covers medical expenses up to GH¢ 5,000. Additionally, agents diagnosed with critical illnesses such as stroke or cancer are eligible for financial support of up to GH¢ 10,000.

CEO and Country Lead of Sanlam Allianz Life Insurance Ghana, Ben-Ahmed Tawiah, described the initiative as a significant step toward empowering mobile money agents across all 16 regions of Ghana. “Our mission is to empower generations to be financially confident, secure, and prosperous. This insurance scheme aligns perfectly with that vision, ensuring that agents can work with confidence knowing they are protected,” he stated.

Mr. Tawiah also addressed concerns regarding fraud, emphasizing that robust verification measures are in place to prevent fraudulent claims.

CEO of AYo Ghana, Francis Gota described the initiative as a landmark moment in securing the financial future of mobile money agents. “This insurance policy is specifically designed to protect the hard-working individuals who play a crucial role in financial services and financial inclusion,” he stated.

By Prince Fiifi Yorke

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