Overview
aYo Holdings is a mobile-first microinsurance carrier operating across sub-Saharan Africa, delivering life and hospital coverage to low-income and underbanked populations through USSD and Progressive Web App interfaces. Founded in January 2017 as a joint venture between MTN Group and Sanlam Allianz (formalized as a 50/50 partnership in October 2022), the company focuses on markets where traditional insurance penetration is low and mobile phone usage is widespread. It operates in Uganda, Ghana, Zambia, Cote d'Ivoire, Cameroon, Nigeria, and South Africa.
The platform uses a pay-as-you-go model allowing customers to purchase coverage using mobile airtime, data bundles, and mobile money transfers through the MTN MoMo network. Because the USSD channel works on basic feature phones without internet access, aYo can reach customers outside traditional banking and digital infrastructure. Policy activation and claims transactions are designed to be fast and paperless, reducing barriers for first-time insurance buyers.
aYo is backed by the equity and operational resources of its two parent companies rather than external venture capital. MTN Group provides the primary distribution channel across its African subscriber base, while Sanlam Allianz contributes underwriting expertise and risk management. As of 2025, the platform had approximately 20 million customers across its active markets. In 2025 the company expanded into South Africa through a fintech partnership with Ezra targeting social security recipients.