By our staff reporter
Nyala Insurance S.C. (NISCO) has announced a strategic partnership with Safaricom’s M-PESA to provide customers with secure, efficient, and convenient mobile payment solutions for its insurance services. This collaboration aims to streamline premium payments, policy renewals, and other transactions through M-PESA’s digital platform.
During the signing ceremony of the Memorandum of Understanding (MoU), Tegegn Masresha, Chief Customer Officer of Nyala Insurance, emphasized the significance of this partnership in improving NISCO’s operations. “This collaboration allows us to deliver unparalleled convenience to our customers, enabling them to access our services seamlessly and securely through M-PESA,” he stated. He further added that by leveraging this partnership, NISCO is reinforcing its commitment to innovation and enhancing customer satisfaction by simplifying insurance transactions.
Elsa Muzzolini, Chief Digital Financial Services Officer at Safaricom M-PESA, echoed the importance of the partnership, stating, “Our commitment to supporting Ethiopia’s digital economy is evident through providing businesses like Nyala Insurance with the necessary digital tools to enhance customer connections.” This collaboration is expected to play a crucial role in advancing digital payment solutions within the Ethiopian insurance sector.
Nyala Insurance is prioritizing the expansion and utilization of digital platforms to enhance service efficiency and convenience for its customers. The company has established itself as a leader in offering smartphone insurance within Ethiopia’s insurance landscape. By integrating M-PESA into its payment systems, NISCO aims to make insurance transactions more accessible and user-friendly.
The MoU signing took place at the M-PESA office on December 27, 2024, and was attended by executive management from both Nyala Insurance S.C. and Safaricom. The event marked a significant milestone in the ongoing efforts to modernize financial transactions in Ethiopia’s insurance sector.
