Media Release on signing of partnership agreement

SAFRICAN AND THE ASSEMBLIES OF GOD MOVEMENT SIGN PARTNERSHIP AGREEMENT

Safrican Insurance Company, a leading life insurer in the developing market of South Africa, has signed an agreement with the Assemblies of God Church Movement, which will see Safrican providing financial services products to one of the top five church groups in Southern Africa.

According to Safrican CEO, Nthabiseng Mmatli, the agreement signifies the next stage in the relationship. “We are cementing and formalising our relationship,” says Mmatli, “and at the same time showing our commitment to providing accessible and understandable financial services products to our communities, who for a variety of reasons didn’t have access to mainstream financial services products before.”

Mmatli confirmed that Safrican, in partnership with the church, would also train a group of church members who will in turn educate members on the first product that Safrican has developed for the church group.

Initially Safrican will provide funeral benefits to more than 500 000 members of the church movement over a period, as a group arrangement, which is available on a voluntary basis. Members with existing cover elsewhere will not be excluded and can be covered twice and/or can benefit from increased funeral cover in line with legislation.

Comment from Assemblies of God Movement:

“We are excited about the prospects that are ushered in, by our partnership with Safrican”, Pastor Ernest Hlope, Chairman of AOGM noted.

‘We, as a church, have always been looking at various means of providing basic financial services to our members that seek to improve their livelihood, whilst enhancing our ability to meaningfully engage in community driven projects that advance our core business of winning souls to Christ as per our slogan of “Africa for Jesus” and “Back to God”, manifesting in what is conventionally termed “moral regeneration” today.’

According to Pastor Hlope,’ this partnership represents the first building block towards unearthing the church’s true potential, in the holistic development of man.’

While the funeral product is the first offering, Mmatli says that where members of the group express an interest in other financial services products, Safrican will be in a position to in-source a product, or develop something unique for their benefit.

“The agreement is not purely based on providing financial products. Safrican has also undertaken to get actively involved in projects that will uplift local communities,” Mmatli added. “We have been in discussion with the Assemblies of God Movement for 12 months and one of the main reasons that we have reached this agreement is because we understand the importance of protocols, obtaining consensus and consultation with the view of building long-term partnerships of a special kind. Our management team has been available to address any and all concerns and matters during this initial period, and it is a hallmark of our ongoing approach to business.”

This professional approach is epitomised in the results of the business for the first six months of this year – to end June, where turnover rose, new business increased and cost were kept under control. “The Safrican approach to business is certainly paying dividends in other ways,” says Mmatli. “For the first six months of the year the company increased profit before tax by 138%.