With the company seeking to drive rapid growth across the African continent, aYo Holdings’ Ghana operation’s CEO has been given an additional role within the aYo Group.
Francis Gota will now be responsible for managing the group’s business development in Uganda and Zambia in addition to his current position as chief executive officer of aYo Ghana. As part of his responsibilities in this role, he will offer assistance to his colleague CEOs as they work to further aYo’s vision of ensuring that all Africans have access to life and hospital coverage that is readily available, easy to obtain, and within their financial means.
“Francis is an experienced leader who, to this day, is responsible for building the most successful of aYo’s subsidiaries. According to Botha, “We have faith that his knowledge and insights developed in Ghana will unlock higher value in the other markets as well, helping them to reach scale in terms of both revenue and active client base.”
About aYo
In January of 2017, aYo began operations in Uganda, and since then, the company has expanded its reach to Ghana, Zambia, and Côte d’Ivoire. Using a model of insurance known as “pay as you go,” the company has become a major player in the African micro insurance market as a result of its rapid expansion. This model provides policyholders with the flexibility to have the cover they require at any given time.
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Gota stated that there was a “huge possibility” to drive development in aYo’s existing markets and he was optimistic about the prospects. We can’t take a “one size fits all” approach because each market has its own unique nuances, and it’s important to remember that.
“It’s important to realize that each market has its own unique nuances. Having said that, there is an undeniable rise in people’s knowledge of financial service products such as micro-insurance, and “we can capitalize on this to rapidly grow the number of Africans who are covered,” he stated.
More About Insurtech Companies
Insurtech companies such as aYo create and distribute financial protection products that are reasonably priced, can be quickly underwritten, and provide coverage for relatively short periods of time. These products may include hospital
cover for accidents and general illness, for example. As such, it is a major enabler of financial inclusion in African markets, offering a much-needed social safety net that assists vulnerable people, in particular persons with little or irregular earnings, to remain afloat in the event that anything unexpected takes place.
aYo Holdings is an African insurtech company that is wholly owned by the multinational telecommunications corporation MTN.