MMI launches short-term offering

Ogone Tlhage - MMI Namibia Holdings yesterday introduced a short-term insurance offering known as Momentum Short-Term Insurance.This follows the recent approval of its acquisition of 70% of the share capital of the short-term insurance subsidiary of Quanta Holdings.Speaking at the launch, finance minister Calle Schlettwein commended MMI Namibia Holdings for acquiring a portion of Quanta’s short-term insurance business as it aims to grow its short-term insurance footprint locally.“I wish to congratulate the board and shareholders of MMI Holdings and Momentum Insure for this investment, which adds to the expansion and diversification of products and services in the short-term insurance industry,” he said.According to Schlettwein, the Quanta acquisition reflected MMI’s confidence in the Namibian economy.“Your business proposition is a credible demonstration of confidence in the domestic economy and the financial sector in particular,” Schlettwein said.He called on MMI Namibia to ensure that its service offerings included low-income earners and said insurance companies had a role to play in contributing to growth.“The insurance industry has a distinct role to play in contributing to this growth narrative through providing relevant, inclusive and affordable products and services to businesses and individuals,” said Schlettwein.In a similar stance, Schlettwein said good business opportunities were on the horizon for those in the financial services industry keen to provide services to low-income earners.“I would like to encourage MMI Namibia to deploy its capacity to service low-income groups of our society, those in the informal sector employment and SMEs, as they contribute a considerable share of the economy,” Schlettwein said.Quanta’s Johan Barnard said of the acquisition: “The transaction is confirmation of the success and track record that Quanta garnered during the short time that we have been part of the Namibian insurance landscape. The MMI group footprint will allow Quanta to spread its wings in terms of the offerings to the public via our trusted broker network.”Quanta Holdings was established in 2015 by Johan Barnard, Riana Botes and Justus Hausiku.

MMI launches short-term offering

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Namibian Sun 2025-11-05

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MMI launches short-term offering

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Namibian Sun 2025-11-05

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