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Cameroon: Life insurance firm Acam Vie launches micro-savings plan through mobile money services

Cameroon: Life insurance firm Acam Vie launches micro-savings plan through mobile money services
  • Comments   -   Tuesday, 09 November 2021 11:08

(Business in Cameroon) - Life insurance firm Acam Vie recently launched an offer baptized Open Life in the Cameroonian market. 

This offer allows cellphone or tablets users to subscribe by contributing between XAF200 and 1 million monthly through their mobile money accounts. On their savings, subscribers receive a 2% interest yearly and can withdraw their savings whenever they want after six months of contribution.

Open Life is a savings or micro-savings plan facilitated by a mobile app (...) that helps save money daily or even occasionally through mobile money accounts (Orange Money or MTN Mobile Money),” Acam Vie explains

Besides contributing to financial inclusion in the country, Open Life will promote mobile money use but also help capture the population’s idle savings while boosting the initiator’s response capabilities in case of disasters. 

BRM

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