Altfin launches medical aid scheme

Altfin Holdings Limited subsidiary Altfin Medical Aid Scheme — in collaboration with mobile phone operator NetOne — yesterday launched a medical aid scheme called MedAccess to provide health access to the uninsured and employees in the informal sectors.

Altfin Medical Aid Scheme will provide medical cover while NetOne will be the technical partner.

Speaking at the launch, Altfin Holdings group chief executive officer Douglas Hoto said the group was increasing its product range in health, life and pension through technology-based distribution.

“We invested $55 000 using locally available resources,” said Hoto.

“We are targeting 100 000 customers in the first six months and a revenue of at least $1 million a month.”

Hoto said many people were earning around $300 per month and could only afford health and pension cover averaging between $20 and $30.

Under the scheme customers are required to pay a monthly subscription of $3.

The medical aid scheme is faceless and accessible at municipal clinics, mission hospitals and government hospitals.

MedAccess customers can use their NetOne mobile numbers as their registration numbers, after which they would be issued with medical aid cards.

NetOne business development manager John Mukasi said customers will pay 20 cents to conduct MedAcess transactions and this could be done on any mobile phone.

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