Santam has launched a digital insurance product for micro township enterprises, offering three cover options at monthly premiums of R75 to R195. The product provides financial security and recovery in case of loss, covering stock, contents, personal accident and political riot. It also includes cell phone insurance and covers risks like civil commotion, public disorder, strikes, riots and terrorism. The solution will be available to MoyaPay clients from May 2023 and will gradually become more widely available. The product aims to address the challenges faced by township businesses, including limited access to finance, skills scarcity and crime. By providing insurance, these businesses can better protect themselves against risks and ensure their long-term sustainability.
