Sanlam and MTN form $100m fintech JV
Sanlam and MTN have formed a $100m joint venture that will see Africa’s largest nonbank financial services group partner with its largest mobile operator to roll out insurance and savings products to the continent’s rapidly expanding consumer market.
Under the 50-50 joint venture, which the two groups are calling a “strategic insuretech alliance”, Sanlam and MTN will each commit $50m to form the partnership that will roll out life insurance, phone insurance, car insurance and basic savings products.
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