from l-r, CEO of aYo Ghana, Francis Gota; CEO of SanlamAllianz Life Insurance Ghana, Tawiah Ben-Ahmed; Chief Sales and Distribution Officer · MTN Ghana, Samuel Addo; and Mr Issahaku of MML
Accra, Ghana//-MobileMoney Limited (MML), MTN Ghana subsidiary responsible for mobile financial services today announced a whopping GHC500,000 (GHC500k) insurance package for more than 200,000 of its Mobile Money (MoMo) agents across the country yearly.
The Chief Commercial Officer of MobileMoney Limited, Abdul Razak Issahaku, explained that the amount for the comprehensive insurance package could vary depending on the number of MoMo agents on the company’s agent network.
“We have already paid for this year. As an insurance policy, once more agents come on board, we will have to top it up. But as an agent comes, we pay, and we pay for one year. I can assure you that the premium is not less than GHC500,000 for a whole year”, according to him.
The insurance package which is subject to renewal every year has no cost to the agents. “There is no cost to agents. It is free. However, our partners namely aYo Intermediaries Ghana and SanlamAllainz Ghana offer a top-up policy where if an agent wants extra cover, they can also top-up to get that extra cover as well.
Mr Issahaku further explained that; “depending on the types of claims what you will get varies. For instance, if it is a death, your next of kin will get GHC20,000. It is permanent disability, you can get up to GHC25,000. If it is hospitalisation, you can claim up to GHC5,000; and for critical illness, you can get up to GHC10,000”.
So, depending on what the issue is, you can get different benefits, he told journalists after the signing ceremony of the policy in partnership with Intermediaries Ghana, and SanlamAllainz Ghana at the MTN Ghana head office in Accra.
Speaking at the signing ceremony, the Chief Executive Officer of aYo Intermediaries Ghana, Francis Gota said: “Today is a landmark moment in securing the future and well-being of Mobile Money agents across the country.
The insurance policy he noted is designed “specifically to protect you, the hardworking agents who play a crucial role in financial services and financial inclusion”.
Why is this important?
“Life is unpredictable, and as agents, you put in long hours to serve your customers, often facing risks in your daily work. This insurance ensures that if the unexpected happens—whether it’s an illness, an accident, or even death—there is financial support to ease the burden on you or your loved ones”, Mr Gota added.
This insurance scheme provides:
- A safety net for your family in case of loss of life.
- Financial support if you suffer a permanent or temporary disability that prevents you from working.
- Assistance when diagnosed with a critical illness (e.g. stroke, cancer, coma, major burns, major organ transplant, heart attack, kidney failure etc.)
- Daily hospital cash benefits to help with medical bills if you are hospitalized.
CEO Sanlam Allianz Life Insurance Ghana, Tawiah Ben-Ahmed whose company is the underwriter of the policy, said they were happy to have this great opportunity to join MTN Mobile Money and aYo Ghana, to sign and outdoor the life insurance cover MTN Mobile Money.
The insurance scheme provides financial confidence to enable MTN Mobile Money Merchants to go about their work with confidence.
Our Commitment
“Our role as the life insurer in this collaboration is to pay the claims under the insurance policy for which we have gathered here this afternoon.
As the CEO of SanlamAllianz Life Insurance Ghana, I can assure you of our capacity and willingness to pay valid claims delightfully as we collaborate with aYo to give you seamless insurance service experience”.
The executives of the Mobile Money Agents Association of Ghana (MMAAG) who witnessed the signing ceremony endorsed the insurance policy and urged the remaining mobile money services providers to emulate the shining example of the MobileMoney Limited.