Mobile innovation continues to bring new money services to Africans, most recently in the form of mobile life insurance in Ghana and remittance from Europe for mobile money account holders in Cameroon.
Mobile Money Limited, a subsidiary of operator MTN, has partnered the Allianz Life Insurance company to support Ghanaian families with affordable life insurance cover through a product called Allianz4life.
Through this partnership Allianz will be able to provide services to over 10 million Ghanaians on the MTN Ghana mobile money platform.
The partnership aims to solve the problem of accessibility to insurance companies. The partners add that limiting face-to-face interaction could save time and resources while proving more convenient to customers.
Meanwhile, pan-African operator Orange has rolled out a new remittance corridor from Europe to mobile money account holders in Cameroon.
Orange Money and MTN Mobile Money account holders in Cameroon will be able to directly receive deposits from France and Belgium thanks to Orange Money Europe. According to Orange, users in France and Belgium will be able to remit a maximum of €400 to Cameroon with their identification document. Those who carry out transactions using the Orange Money Europe app can send as much as €800. Sums from €800 to €2,000 will require proof of residence as well as ID.
The money can be withdrawn from distributors of interconnected banks via GIMAC (Interbank Electronic Banking Group of Central Africa). Transaction charges are said to be among the lowest on the market: €1.99 up to €100 and €2.99 from €100.01 to €800. Customers can also use the Orange Money Europe offer to top up voice, text and data on the phones of users in Cameroon.