Microinsurer aYo Zambia flourishes through pandemic 

Microinsurer aYo Zambia has announced that it has passed the one-million customer mark in under a year and the growing company aims to double its market share in 2021 as it aims to provide easy access to insurance for Zambians. 

This is a massive milestone for aYo Zambia which launched at the onset of the Covid-19 pandemic but has experienced exponential growth since its implementation in the African country. 

Microinsurer aYo Zambia flourishes through pandemic

Andrew Nkolola, CEO of aYo Zambia comments on the company’s performance and points out that consumer anxieties around Covid and its related economic challenges had heightened awareness of the need for protection and overall help in the event of either loss of life or hospitalisation.

“We are committed to helping our customers secure their financial wellbeing in these challenging times. In 2021, we will continue to put a strong emphasis on further benefit and cover enhancements to cater to the evolving needs of our customers and the market.”


Founded in 2017 in Uganda, aYo expanded its operations to Ghana and most recently Zambia and plans to enter the Côte d’Ivoire market this year.

Microinsurance is seen as a powerful enabler of financial inclusion in African markets, providing a much-needed social safety net that helps vulnerable people and particularly people with low incomes to stay afloat when the unexpected happens.

The microinsurer offers hospitalisation and life cover insurance through two products; ‘Send with Care’ and ‘Recharge with Care’  

Partnering with MTN, aYo Zambia’s ‘Send with Care’ and ‘Recharge with Care’ products with all of MTN’s network subscribers. The innovative system enables to access life and hospital insurance cover every time a customer recharges with MTN airtime. 

In addition, customers can use their mobile devices to access a range of other services offered by aYo Zambia.

Subscribers can sign up by dialling *296# on their mobile phones, and use the same process for filing claims. Valid claims are paid directly to the claimant’s mobile money wallet without any hassle.

With Send with Care, aYo provides up to triple the amounts that customers have sent via MTN Mobile Money over the previous four months. 

Life cover pays out to their family in the event of their passing, and hospital cover pays straight into their MTN Mobile Money account if they spend one night or more in hospital due to an accident or illness. When customers send money, they simply select aYo Send with Care when prompted*, or dial *303*1*4#.

“With a mobile phone penetration rate of above 80% in the country, we believe this offers Zambians from all walks of life the ability to access affordable, easy-to-use insurance that is relevant to their needs that they have control over,” adds Nkolola.

The company claims to have paid in an excess of $1-milliom claims since it launched in Zambia. 

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Featured image: Andrew Nkolola who is the CEO of aYo Zambia (Supplied)



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