The recently announced Old Mutual Digital Services fintech business under Old Mutual Zimbabwe Limited has entered into the market as O’mari. O’mari is a business that will provide mobile money services, insurtech, investech, digital lending, e-commerce, payments, and digital products and services for the retail mass market. Guided by the strategic vision of ‘creating better everyday lives, today and tomorrow’, the business has launched products that include the O’mari mobile wallet, O’mari FoodCare, O’mari SchoolCare and O’mari HealthCare.
The O’mari mobile wallet is an interoperable mobile money solution that allows customers to register on all three networks in Zimbabwe, that is, Econet, NetOne or Telecel using the USSD short code *707#, via WhatsApp on 0774707707 or using the O’mari mobile app that is available on the Google PlayStore and Apple App Store. The O’mari mobile wallet is a dual currency wallet that allows customers to transact in both USD and ZWL.
O’mari customers are able to send money to any bank or mobile wallet, buy airtime for any network, make merchant and bill payments for billers such as Old Mutual, ZESA, TelOne, Liquid Home and many others. In addition, customers can cash in and cash out USD at major retail outlets across Zimbabwe. An exciting feature on the mobile wallet is the ability for customers to link their preferred bright neon-coloured ZWL ZimSwitch debit cards and USD Visa debit cards to the mobile wallet. Customers are also able to generate a Visa virtual card on USSD, WhatsApp and the mobile app channels to conduct online e-commerce transactions. With all these features and functionalities, the O’mari mobile wallet gives customers more options, choice and convenience.
O’mari is more than just a mobile wallet. The business has also launched two disruptive insurtech (insurance technology) solutions that are accessible on the mobile wallet. The O’mari SchoolCare and O’mari FoodCare solutions are affordable and flexible micro insurance solutions that are underwritten by Old Mutual Zimbabwe Life Assurance Company.
From a monthly premium of USD$0.90 per month per child, parents that sign up for the O’mari SchoolCare solution will ensure that their children’s school fees is covered for up to 5 years in the event that they pass away. There are four different O’mari SchoolCare packages and parents can cover school fees of up to US$2,000 a term. Subject to limits, parents can cover school fees for as many children as they choose to. In the event of the unfortunate, school fees payments will be made directly to the school.
The O’mari FoodCare solution is an innovative insurtech solution for breadwinners. In the event that a breadwinner passes on, O’mari FoodCare ensures that the family that is left behind gets monthly groceries worth up to US$167 per month for up to 5 years. There are three different O’mari FoodCare plans to choose from, and the monthly premiums start from as little as US$0.90 a month. O’mari has partnered with major retail outlets across the country to allow your loved ones to collect groceries from their nearest stores.
O’mari has also solutioned a rewards and loyalty program that rewards use of the O’mari wallet or paying O’mari FoodCare or SchoolCare premiums. By remaining active you qualify for the O’mari HealthCare service. By transacting for a minimum of 3 months on O’mari, customers that require medical assistance will qualify for an advance to access healthcare services such as doctor’s consultations and medication worth up to US$100. O’mari has built an ecosystem of partnerships that include hospitals, clinics and pharmacies. The solution pays medical fees directly to the service provider, requiring customers to repay within a period of 30 days.
Speaking at the launch of O’mari, Old Mutual Zimbabwe Limited Group CEO Sam Matsekete said, “We are pleased to launch O’mari into the market, a business that will extend innovative integrated financial solutions and to promote financial inclusion, everywhere in Zimbabwe. The solutions we are introducing to the market are customer first solutions that meant to sustain, grow and protect our customers.
O’mari Managing Director Arthur Matsaudza echoed Mr. Matsekete’s sentiments stating that, “As O’mari, the reason we exist is to create better everyday lives, today and tomorrow. The wallet we have launched gives customers added options, choice and convenience”. Mr. Matsaudza added, “The insurtech and nano lending solutions that we have launched in addition to the wallet consider the everyday needs of our customers, we’ve designed solutions that are simplified, affordable and accessible, solutions that drive real social impact”.
Mr. Matsaudza thanked all stakeholders including the Regulators, partners, vendors and suppliers for their support and for joining hands to make the launch of O’mari a success. He indicated that for O’mari, leveraging on the strategic relationships and partnerships would be key to driving financial inclusion and usage.
To access O’mari today, simply dial *707# on any network, using any phone and follow the prompts that come up on your screen to register.