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Sanlam and MTN join forces to sell insurance to mobile phone users across Africa

12 August 2021 6:51 PM
Tags:
MTN
MTN Group
The Money Show
Bruce Whitfield
Insurance
Sanlam
Fintech
Ralph Mupita
company results
COVID-19
insurtech
digital insurance

'It's an exciting alliance.' The Money Show talks to CEO Ralph Mupita about the MTN Group's joint venture and its interim results.

The MTN Group has reported a 10% drop in headline earnings per share to 387 cents for the six months ended June 2021.

The pan-African mobile operator says its results were "solid" even though it lost 2.3 subscribers in Nigeria due to strict new SIM registration regulations there.

© piter2121/123rf.com

MTN reported 9.3% growth in South African service revenue, with data a key driver.

Bruce Whitfield interviews MTN Group CEO Ralph Mupita.

Mupita notes that MTN has been on a journey of sustained investments in its networks and platforms for several years.

I guess we were investing ahead of demand, ensuring that our networks had capacity to carry data... We didn't foresee Covid happening and the acceleration of the demand for data services coming five years forward to what we thought would have happened...

Ralph Mupita, CEO - MTN Group

Those investments in our network have really positioned us well to be resilient through this period, but also to take advantage of the opportunities.

Ralph Mupita, CEO - MTN Group

Mupita describes MTN's insurtech tie-up with Sanlam as a 50-50 joint venture, with each partner contributing particular capabilities and skill sets.

We're going to optimize each of the partner's skills... our brand, our distribution, our access to customers... Sanlam with the insurance expertise and capital management that comes with it.

Ralph Mupita, CEO - MTN Group

For more from the MTN CEO, listen to the audio clip below:




12 August 2021 6:51 PM
Tags:
MTN
MTN Group
The Money Show
Bruce Whitfield
Insurance
Sanlam
Fintech
Ralph Mupita
company results
COVID-19
insurtech
digital insurance

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