African insurtech aYo Holdings has named Yvonne Bredenhann as chief financial officer as it looks to scale up its operations across the continent and into the South African market.
Bredenhann’s appointment follows Sanlam’s acquisition of 50% of the aYo business late last year from telecommunications giant MTN. She is a 20-year veteran of Sanlam, with her most recent position being head of finance for SanlamConnect (Sales and distribution) . She also previously served as head of finance and procurement for the Sanlam Group’s Technology and Information Shared Services.
aYo chief executive Marius Botha said Bredenhann’s expertise in technology and distribution would be key to the company’s vision of becoming the largest digital insurance marketplace in Africa by enabling the distribution of affordable micro financial services products to people who have never had the opportunity to engage in financial services.
Bredenhann said the move offered her the opportunity to be part of a ‘massive opportunity’ to grow the insurance net across Africa. “When you look at current insurance penetration figures, it’s clear that there’s huge potential to grow the business across the continent. I look forward to supporting our seven country operations, and helping support the further growth of the business,” she said.
While approximately 46% of Africa’s population has access to and uses cell phone services, insurance penetration remains below 5% in most markets, except South Africa.
Bredenhann is a certified Chartered Accountant who holds a BCom Hons degree in accounting and auditing, a Masters’ degree in Commerce from the University of Cape Town, and a postgraduate Diploma in Auditing.