Prudential wants to expand Vodafone, Airtel partnerships to target informal economy

By David Whitehouse
Posted on Friday, 17 June 2022 11:40

The logo of UK-listed insurer Prudential
The logo of UK-listed insurer Prudential REUTERS/Simon Dawson

Global insurance group Prudential wants to expand its Ghanaian partnerships with Vodafone and Airtel to drive increased African insurance penetration, Emmanuel Mokobi, Prudential’s CEO for sub-Saharan anglophone markets, tells The Africa Report.

“We are trying to replicate the partnerships” which allow Prudential’s products to be distributed in Ghana through the mobile-phone operators, Mokobi says at The Africa CEO Forum in Abidjan. He is “very optimistic that will happen” but nothing has yet been agreed.

Insurance penetration rates in most African countries remain stubbornly low. Mokobi is optimistic that a breakthrough can be achieved because of the rise of an educated and tech-savvy middle class. Prudential operates in eight African countries, Uganda, Zambia, Cameroon, Togo, Côte d’Ivoire, Nigeria and Kenya, as well as Ghana, and aims to extend its telecoms partnerships across those countries.