Bharti ties up with SA bank
India-based telecoms company Bharti Airtel has announced that it has entered into a strategic co-operation agreement with leading South African financial services group, Sanlam, for the distribution of insurance and health funding products.
Bharti Airtel has operations in 17 countries across Africa, but the deal will cover seven African countries, on a non- exclusive basis, in which both companies have a presence, namely Kenya, Ghana, Tanzania, Zambia, Uganda, Malawi and Nigeria.
The agreement is aimed at increasing access to insurance which will enable Sanlam to market and sell its Life, General and Health insurance products through Airtel’s telecommunications networks.
Chidi Okpala, Airtel’s director & Africa head, Airtel Money, said: “This will offer our customers in Africa access to a broad range of sophisticated products and services to support their lifestyles and aspirations, and this partnership will enable us to significantly enhance the value we offer our loyal customers.”
Margaret Dawes, executive Director for Africa at Sanlam Emerging Markets, said: “We are passionate about supplying sound financial solutions to the wider African market and are delighted by this opportunity to provide our services and solutions through Airtel’s network.”
Sanlam’s financial solutions include individual, group and short-term (general) insurance, personal financial services such as estate planning, trusts, wills, personal loans, health management, savings and linked products, business fitness assessment, asset management, stock broking, employee benefits, risk management and capital market activities.
The Sanlam Emerging Markets (SEM) cluster is responsible for Sanlam’s financial business services (life assurance, general insurance and asset management) in emerging markets outside South Africa with the aim of ensuring sustainable delivery and growth across the various businesses that make up this cluster.
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