MTN Mobile Money Zambia has announced a new service that enables customers to make secure health and motor insurance payments, further expanding the MoMo ecosystem with accessible and trusted protection solutions. The launch marks a significant milestone in positioning MoMo as a comprehensive insurance marketplace that brings together multiple insurance options on one digital platform.
This expansion is made possible through two inaugural partnerships with Mzanu Financial Services, offering Banja Life Assurance and Health Insurance, and Master Business Associates Risk Advisory Services, providers of IMETT (Insurance Made Easy Through Technology), a mobile-first solution designed to simplify insurance distribution and advance financial inclusion across Zambia. Both Master Business Associates Risk Advisory Services and Mzanu Financial Services participate in the partnership in their capacity as licensed insurance intermediaries, enabling customer access to products underwritten by registered insurers.
This service, available via the USSD code *115#, is designed to help Zambians protect what matters most: their health, families, and assets.
While mobile money usage continues to grow across the country, insurance has traditionally remained out of reach for many due to complex processes, low awareness, and reliance on face-to-face interactions. MTN MoMo aims to change that by putting protection directly into the hands of customers, while also creating a competitive digital environment that encourages more affordable and accessible insurance offerings.
By operating as a marketplace, MoMo opens the door for multiple insurance solutions to be delivered digitally, increasing transparency, widening customer choice, and driving healthy competition in the sector. This competition is expected to play a key role in lowering barriers to entry and making insurance more inclusive for everyday Zambians.
Speaking on the launch, MTN Mobile Money Chief Executive Officer, Komba Malukutila, highlighted that the service is a growing marketplace. โInsurance should not feel complicated or intimidating,โ he said. โThe launch of the MTN
MoMo Insurance Marketplace marks a major step in our journey to build a truly digital financial ecosystem. We are proud to introduce the marketplace with our first two partners, and this is only the beginning. We will continue to onboard additional partners to expand customer choice and strengthen the value of the platform. Our vision is to make MoMo a dynamic ecosystem where insurance is simple, accessible, and available from multiple trusted providers, all in one place.โ
Master Business Associates Risk Advisory Services Chief Executive Officer, Cindy Chibambo, further added, โIMETT is about meeting people where they are. By using technologies people already trust, we are making insurance simple, accessible, and inclusive. Our partnership with MTN MoMo allows us to scale this vision across the region offering motor insurance from insurance providers such as Professional Insurance, NICO, ZSIC, Madison, General Alliance and Swan.โ
Chief Executive Officer of Mzanu Financial Services, Munya Javangwe, also expressed strong support for the partnership, stating, โWe are pleased to partner with MTN MoMo on the launch of its insurance marketplace, which represents a major step forward in making relevant and affordable protection accessible to more people. Through platforms like MTN MoMo, solutions such as Banja Kava are able to reach customers in a way that is simple, digital, and aligned to their everyday lives. This collaboration reflects our shared commitment to innovation, financial inclusion, and delivering insurance that genuinely meets customers where they are.โ
The service is designed for a wide range of customers, including young adults, working professionals, small business owners, and families. It also supports those in rural areas who may not have easy access to traditional insurance providers but rely heavily on mobile money services.
The initiative aligns with MTNโs broader ambition to drive financial inclusion by making essential financial services available to more people across Zambia. By integrating insurance into the MoMo ecosystem and evolving into a marketplace model, MoMo continues to expand its role beyond payments and transfers, positioning it as a complete financial companion for everyday life.
Customers can access insurance on MTN MoMo by dialing *115#, selecting Option 7 (Financial Services), then Option 3 (Insurance), and choosing their preferred cover.
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MTN Mobile Money Zambia Ltd is one of Zambiaโs leading mobile financial services providers, offering secure, convenient, and innovative digital payment solutions to millions of Zambians. A part of the MTN Group, a multinational telecom leader with operations in 18 countries across Africa, MTN Mobile Money Zambia provides a wide range of services including local and international money transfers, bill payments, merchant payments, loans, savings products, and now digital insurance access. With a vast network of agents across all 10 provinces, MTN Mobile Money is committed to driving financial inclusion and supporting Zambiaโs digital economy.
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Master Business Associates Risk Advisory Services is a regional risk advisory firm operating in South Africa, Zimbabwe, and Zambia, delivering innovative, technology-driven insurance and risk management solutions.
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Mzanu Financial Services is a digital-first inclusive finance company focused on expanding access to simple, affordable financial protection solutions across Africa. Through partnerships with insurers, mobile network operators, aggregators and technology providers, Mzanu designs and distributes insurance products that are easy to understand, easy to access, and relevant to everyday life. Its flagship offering, Banja Kava, reflects Mzanuโs commitment to using digital channels to close the protection gap and strengthen financial resilience for individuals and families.