Sveiki,
Victoria from Techpoint here,
Here's what I've got for you today:
- How to handle employee exits
- Moniepoint hires ex-Stanbic IBTC’s CFO
- Healthcare for $1 in Zimbabwe
Healthcare for $1 in Zimbabwe
NetOne just rolled out a new $1-a-month medical aid plan called OneHealth, which could be the most affordable health coverage in Zimbabwe. For the price of a loaf of bread, you’re covered — pretty sweet, right? But of course, the real question is: what exactly does that $1 get you?
In a country where only 7% of people have medical insurance, this plan includes one GP visit a month, up to $30 worth of meds (no chronic meds though), and a three-month waiting period, which is pretty standard for most plans in Zimbabwe. If you’re adding dependents, each one will probably cost you an extra dollar. So, for a family of five, that’s about $5 a month.
With Zimbabwe’s ongoing currency struggles and hyperinflation, basic goods and services are becoming unaffordable. Wages aren’t keeping up, and the local currency continues to lose value. This makes it even harder for middle-income families to afford healthcare or insurance premiums.
In this context, a $1-a-month plan like OneHealth is a lifeline. It offers a basic safety net that most Zimbabweans can’t find elsewhere at such a low cost. For those grappling with inflation, spending $1 on health cover is a no-brainer compared to the high costs of private care or going without any coverage.
If you're a NetOne user in Zimbabwe, you can sign up easily by dialing *501# on your phone. After registering, you’ll get access to an app (or even a WhatsApp bot) that helps you find GPs and pharmacies that accept OneHealth. It would be even more helpful if NetOne just published a list of accepted providers for people who are considering signing up.
Now, here’s the big idea: if OneHealth gets the right marketing push, almost every NetOne subscriber without health coverage is going to want to sign up. And it could even convince people who don’t already use NetOne to switch just for the health plan. That’s the hope, right?
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Keep in mind that Econet Wireless is the big dog in Zimbabwe’s telecom market, with a 56.8% market share, while NetOne holds second place with 23.7%, and Telecel comes in third with 19.5%.
How to handle employee exits
Employee exits are just part of the game, even for established companies with super-loyal staff. And with Millennials and Gen Z averaging around five years at a job, turnover is now the norm.
Patience Asore, a workplace coach, believes it’s a mistake for employers not to expect it. “A lot of companies expect their staff to stick around forever,” she says, “but they forget people work for different reasons and may leave when their goals shift.”
Without preparation, companies often scramble to manage the departure, which can throw off morale and productivity for everyone left behind. That’s why Asore stresses the importance of exit interviews. Even if departing employees give mixed feedback, it’s still worth holding these chats to learn from the experience.
“Exit interviews—whether formal or just a casual chat with a manager—reveal obvious issues, point to where changes are needed, and provide closure,” she says.
For more insights on how to handle workplace exits like a pro, read Oluwanifemi’s story.
Moniepoint hires ex-Stanbic IBTC’s CFO
Moniepoint just made a major move by hiring Bayo Olujobi, former CFO at Stanbic IBTC, as the CFO of its microfinance bank — a signal it may be setting its sights on Nigeria’s commercial banking sector.
Now a unicorn processing over $150 billion annually, Moniepoint’s rapid rise since rebranding from TeamApt in 2023 and securing $110 million in Series C funding is impressive. Its extensive reach through agency and personal banking services already connects over 10 million businesses and individuals.
With Olujobi’s banking expertise, Moniepoint’s positioning gets a significant boost. His experience at Stanbic IBTC brings the know-how for high-level financial operations and potentially navigating the regulatory side of a commercial banking licence.
This isn’t just adding another executive; it’s a strategic move to scale up and bring traditional banking strength into fintech.
Moniepoint’s CEO, Tosin Eniolorunda, has always been vocal about expanding financial inclusion in Africa, and Olujobi’s addition aligns perfectly with that mission. Beyond Nigeria, Moniepoint is eyeing new markets, with Kenya potentially next in line.
Its agency banking and lending model has been a hit in Nigeria, and with Olujobi on board, Moniepoint is better positioned to tackle both the financial and regulatory demands of expansion across Africa. This could mark the beginning of a bold new era for Moniepoint.
In case you missed it
- From cross-border payments to micro-insurance, here’s what African fintech investors want to see
What I'm watching
- Why We NEED Africa Poor (Documentary)
- Scientists Think the Universe Is Alive - And It's Terrifying!
Opportunities
- Paystack is hiring for multiple senior positions. Apply here.
- Moniepoint is hiring for various roles in the UK and Lagos. Apply here.
- Interswitch is looking for a Senior Backend Engineer. Apply here.
- Flutterwave is hiring for several roles in African countries, including Nigeria and Zambia, and the UK. Apply here.
- Pitch Friday is tomorrow, Friday, November 8, 2024. Register here.
- Looking for an internship or remote role? Here's a list of 1,500+ opportunities in different fields (tech, finance, marketing, health and more). Check it out here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a fantastic Thursday!
Victoria Fakiya for Techpoint Africa.
