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TECH & INNOVATION – EnviAfrica, insurance company for lower-middle class South Africans

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GUEST – Lebohang Mehalane - EnviAfrica founder and executive director

A black female-owned South African microinsurance company, EnviAfrica Life, launched its first two products: life and funeral cover products aimed at the lower-middle income market. EnviAfrica founder and executive director Lebohang Mehalane told Sunday World that she was looking at launching credit life, disability and retrenchment benefits products too.

She said her company had yet to sell its life and funeral cover products to schemes or individuals, but she expected to start making sales from the start of May. Mehalane said the Financial Sector Conduct Authority approved the life and funeral cover products in October 2022. She said the product launch was key to the transformation of the financial services industry and increasing financial inclusion through the design and development of insurance products that are relevant, accessible and affordable.

edd
29 Aug 2023 4PM English South Africa Business News · Investing

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