Partnership between Airtel Money and Metropolitan increases access to insurance and micro savings services
Bharti Airtel (“Airtel”), a leading telecommunications services provider with operations in 20 countries across Asia and Africa, today announced the establishment of a strategic partnership with MMI Holdings Limited (MMI), a leading insurance-based financial services company listed on the South African stock exchange, the JSE.
This new agreement eases Airtel Customers' access to insurance and micro savings services. The partnership between both entities enables MMI's brand, Metropolitan, to market and sell its products through Airtel's extensive telecommunications networks in five countries: Ghana, Kenya, Nigeria, Tanzania and Zambia.
Commenting on the partnership, Chidi Okpala, Director & Africa Head, Airtel Money said: “Metropolitan International is one of the leading insurance-based financial services companies in Africa. We are proud to be associated with such a strong brand. Airtel customers are poised to greatly benefit from this new agreement which eliminates all the hassles and complications involved in buying insurance and micro savings services.”
He added: “By launching this partnership with Metropolitan, Airtel aims at bringing relevant services to the fingertips of millions of people across Africa. This new development highlights our commitment to finding convenient solutions for all our customers.”
The mobile handset is the device that is changing the lives of people across the African continent for the better. By giving its customers access to insurance services, Airtel is giving them the freedom to achieve their goals in life.
“A huge chunk of the African population doesn't have access to financial services. However, the mobile telephony penetration rate in Africa keeps growing each year. At Airtel, we have identified the gap in the market and we've decided to fill it. The strategic partnership we have struck with Metropolitan will allow millions of our customers to have peace of mind”, concludes Mr. Okpala.
Mervyn Cookson, CEO for Metropolitan International, also commenting on the partnership said “We are delighted to be partnering with Airtel who share our vision to reach and improve millions of lives with innovative and affordable financial solutions. We are confident that together we will forge a completely new path for financial services in Africa.”
About Bharti Airtel
Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti Airtel had over 275 million customers across its operations at the end of July 2013. To know more please visit, www.airtel.com
About MMI Holdings Limited
MMI Holdings Limited (MMI) is a leading insurance-based financial Services Company listed on the South African stock exchange, the JSE. Created in December 2010 from the merger of Metropolitan Holdings and the Momentum Group, MMI is one of the largest insurers in South Africa doing business in 12 African countries outside South Africa and the United Kingdom. MMI opened a liaison office in India in 2011, tasked with exploring business opportunities in the region.
The core businesses of MMI are long and short-term insurance, asset management, savings, investment, healthcare administration and employee benefits. Product solutions are provided to all market segments through the well-established Momentum and Metropolitan brands.
MMI consists of six operating divisions, which fall into either the Metropolitan or Momentum brand portfolios, depending on the target market focus, core competencies and intellectual assets of the particular business. Some divisions use both the Metropolitan and Momentum brands in distinctive focus areas within that division, as dictated by the business case in each instance.
Metropolitan International pursues growth in markets outside South Africa, with an initial focus on Africa. With its combined footprint, MMI is represented in 12 territories beyond the borders of South Africa, covering life, short-term insurance, group, and health solutions.
For more information please visit www.mmiholdings.com