aYo Holdings, the African micro-insurance fintech business which is a joint venture between telecommunication giant MTN and traditional insurer Momentum Metropolitan Holdings (MMH) has appointed Marius Botha as the new group CEO. aYo Holdings which offers accidental hospital cover and life cover in Zambia, Uganda and Ghana with additional African countries launching in the very near future said that this is in line with their planned expansion into other markets in the continent.
Botha was formerly CEO of life insurer Stangen for nearly seven years, having previously held executive positions at African Bank and Munich Re. He holds an honours degree in actuarial science and an M.Phil in Futures Studies.
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In a similar development, MTN Group has appointed Karl Toriola, current VP for MTN Group’s West and Central Africa (WECA) region, as the new CEO of MTN Nigeria – effective 1 March 2021. Toriola will take over as MTN Nigeria CEO from Ferdi Moolman, who has served MTN Nigeria with distinction in this role for the past five years. Moolman will return to South Africa, where he will assume the new role of Group Chief Risk Officer.
Toriola has a BSc Hons in Electronic and Electrical Engineering and an MSc in Communication Systems. In his five years as VP of MTN’s WECA region, he has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon over the past two years.
“Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role,” says MTN Group President and CEO, Ralph Mupita.
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“Karl started his MTN career in his home country at MTN Nigeria 14 years’ ago and has all the attributes necessary to lead this very important business into the future.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry