aYo, a mobile micro-insurance joint venture between MTN and SA’s third-biggest insurer Momentum Metropolitan, saw unique customers enrolled grew 14% to 11.4 million as of 31 March 2021.
Momentum Metropolitan disclosed the figures in its operational update for the nine months ended 31 March 2021.
The insurer also said aYo is making steady progress in Ghana and Uganda. Following its Zambian launch, aYo achieved a 10 million enrolled customer milestone.
aYo provides you with fast, convenient and easy to use insurance right on your cell phone. You enjoy hospital and life insurance cover through airtime deduction (Recharge with Care) or when you send MoMo (mobile money) to your family or loved ones (Send with Care).
It brings you an easy way to get hospital cover for accidents (not illness) and life cover.
MTN has increased its shareholding in aYo to 75% and will consolidate it in future once regulatory approvals are obtained.
In 2017, Momentum Metropolitan and MTN launched the micro-insurance joint venture.
