Trustco Mobile is to offer free life cover to all users who buy Cell One airtime.
Namibia-based Trustco Group Holdings Ltd (Trustco), the first company to list on the new Africa Board of the JSE earlier this year, brokered the deal between one of its subsidiaries, Trustco Mobile and Powercom, a subsidiary of Telecel Globe Ltd, trading as Cell One in Namibia.
Telecel Globe is a majority owned subsidiary of Orascom Telecom SAE considered among the largest and most diversified network operators in the Middle East, Africa, and South Asia.
Group MD Quinton van Rooyen says the agreement enables Trustco Mobile to expand its offer of free life cover from the limited customer base available during the previous test phase to now cover all purchasers of Cell One airtime.
“Life cover will be extended on application, against a minimum airtime purchase per month. This offer will be exclusive to Cell One customers in Namibia for the duration of the agreement," he says.
Cell One’s CEO, Soban Pasha says the extension of the company’s relationship with Trustco Mobile is an exciting next step and will be to the greater benefits its clients.
“Free life cover is a new concept to the telecommunications value added services arena and holds great potential to contribute to the realization of our vision, our corporate marketing strategy, and our short-to long-term growth plans.”
Trustco Mobile was launched by Trustco in June 2008. Patented internationally and valid for anyone aged 16 to 60, this innovative concept provides free life cover for mobile phone subscribers upon the purchase of airtime from mobile operator partners. The more you recharge, the more you’re insured. Life cover is 100 times the value of the amount of airtime purchased and valid for a period of 30 days.
Van Rooyen says the Trustco Mobile’s agreement with Cell One in Namibia commences on 1 July 2009 and will remain in force for a minimum period of one year.
“The agreement includes provision for introductions to other mobile service provider subsidiaries of Telecel Globe Ltd.”
The premise of the Trustco Mobile concept is that it will cater for between 60% and 70% of the SADC population that do not have life insurance.
Van Rooyen points out that Africa, with a population of over 960-million and a mobile penetration rate of approximately 30%, is recognised as the region with the highest mobile cellular growth rate in the world, but 70% of lives (or about 150-million people) in SADC alone are non- or underinsured.