MTN, Mzanu, MBA, and Madison General Join Forces to Modernize Financial Protection
MTN Mobile Money has taken a major step towards expanding financial inclusion in Zambia with the launch of insurance services accessible directly via mobile phones. The announcement was made by MTN Mobile Money Chief Executive Officer, Komba Malukutila, during the unveiling of the service.
Speaking at the event, Malukutila highlighted the transformative role of mobile money in everyday financial transactions, noting that over 15 million Zambians now use the platform to access services such as sending school fees both locally and abroad.
He said that Zambia is now sitting close to 70 percent financial inclusion, and this is a milestone achieved in under ten years.
The new mobile insurance service is designed to provide protection against life’s uncertainties, including illness, accidents, business losses, and funerals. Malukutila explained that insurance has historically been perceived as complex and expensive for the average Zambian.
He added that today it is brought to the places where people manage their lives daily on their mobile devices with no paperwork, no long queues, and no intimidating processes.
The service allows customers to select coverage tailored to their income and needs, making protection practical, flexible, and affordable. The CEO emphasised that MTN Mobile Money is evolving from a payments platform to a comprehensive digital financial ecosystem that delivers stability, dignity, and peace of mind. Financial inclusion is not just about sending money; it is about resilience and the ability to withstand shocks. Malukutila noted that Zambia is among the first African countries to offer insurance via mobile phones, ensuring protection is no longer a luxury but a necessity.
In a show of collaborative effort, Mzanu Financial Services also launched the MoMo Insurance Marketplace, highlighting the power of partnerships in expanding financial protection. CEO Munyaradzi Javangwe commended MTN Mobile Money for leading the creation of a scalable platform that makes insurance accessible and affordable nationwide.
Mzanu’s Banja Cover product, offered in partnership with One Life Assurance Limited, provides support during hospital stays and times of loss. Javangwe said that insurance should not be complicated or distant. It should be accessible, practical, and relevant.
He explained that digital infrastructure, developed with technical partner Inclusivity, enables seamless onboarding and service through USSD and WhatsApp, channels already widely used by Zambians.
The collaboration reflects more than just a commercial partnership; it represents a shared commitment to innovation, financial inclusion, and strengthening financial resilience, Javangwe added.
Meanwhile, Master Business Associates Risk Advisory Services unveiled IMETT, Insurance Made Easy Through Technology, a digital insurance platform aimed at simplifying insurance for all Zambians. CEO Cindy Chibambo highlighted the convenience of purchasing insurance via USSD and WhatsApp, eliminating traditional paperwork and allowing coverage anytime, anywhere.
She said that the mission is to design insurance solutions that are practical, inclusive, and relevant to the Zambian market.
Madison General Insurance Company also welcomed the launch. Managing Director Kelvin Mwale noted that digital platforms allow clients across Zambia, even in remote areas such as Mwinilunga, to purchase and print insurance covers without visiting offices.
Mr Mwale emphasised that the platform enhances claims reporting, tracking, and overall transparency. He added that insurance is financial security and brings peace of mind, stability, and a happier life.
With only about three percent of Zambians currently insured, the collaboration between insurers and digital platforms is expected to significantly increase coverage, boost public confidence, and make protection more accessible to Zambians nationwide.
