MTN Group signed a deal to offer insurance in South Africa from multinational provider Sanlam through its app and digital sales channels, Business Day reported.

At a press conference at the operator’s head office, MTN CEO Rob Shuter (pictured) reportedly said his company would start by selling life insurance and funeral cover.

The operator already sells limited insurance services from provider MMI across several markets as part of a deal signed in 2016.

MTN’s latest agreement forms part of the operator’s strategy of increasing the scope of its financial services play across the group. This includes adding new services on top of its existing mobile money platform and exporting its core mobile money product to new markets.

In an interview in 2018, Shuter announced plans to bring mobile money back to South Africa after abandoning it there in 2016. It has also applied for a banking licence in Nigeria as part of its ultimate aim of becoming the largest bank on the African continent.