MTN unveils insurance scheme for SMEs

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To boost Small and Medium-Scale Enterprises (SMEs) operations in the country, MTN Nigeria recently unveiled an insurance scheme designed to empower traders and small business owners. The telecom giant will use the scheme to protect businesses of SMEs in the country. Mr. Tsola Barrow, the acting Chief Enterprise Solutions Officer of MTN Nigeria, said that the insurance scheme under the MTN Y’ello Biz was being offered in collaboration with Mansard Insurance Plc. According to him, the scheme would protect small businesses against flood, fire and other risks.

To achieve the aim of the scheme, Barrow said that MTN Business, the business-to-business division of MTN Nigeria, was rolling out a series of awareness campaigns in major open markets across the nation on the MTN Y’ello Biz. “The campaigns seek to empower traders and small business owners in general with an affordable and easily accessible insurance cover, in a society where business insurance is largely seen as the preserve of big businesses and the rich. At MTN Business, we believe that the SMEs are the anchor of local economies and, as a critical agent for national economic development, we believe in enabling not only big businesses but also small businesses,” he said.

Barrow added that the platform would provide the necessary insurance protection SMEs need at an affordable cost, to run their businesses. “This also bespeaks the vision we have of delivering a bold new digital world to our customers,” he said. He added that the MTN Y’ello Biz, which can be bundled with voice, data and SMS services, was from the stable of the MTN Y’ello Cover, a suite of insurance services offered by MTN to subscribers on its network.

To join the scheme, a subscriber will need just N300 a week, to enjoy a N1 million Mansard Insurance cover for their businesses. “Thus, they will experience peace of mind, knowing that their goods are protected against sudden and unanticipated losses,” it said.

Mr Yomi Onifade, director of Retail Business, Mansard Insurance, commended the initiative and collaboration between MTN Nigeria and his company. Mansard, he said, was pleased to extend its customer-focused insurance services to the SMEs, covering some of the most frequently occurring business hazards. “We are assured that with the MTN Y’ello Biz, SMEs too can now enjoy the confidence that comes from being under the Mansard cover,” he said.

By Pita Ochai

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