Momentum Metropolitan Holdings has announced the conclusion of the transaction to sell its equity stake in its Tanzanian Businesses, and thus exiting the Tanzanian market. The closing conditions of the transaction have now been completed which sees local shareholders acquiring Momentum Metropolitan’s 67% interest in Metropolitan Tanzania Insurance Company Limited (MTICL) and Metropolitan Tanzania Life Assurance Company Limited (MTLACL) (together the “Companies”).
It is with pleasure that the Momentum Metropolitan Group announces the appointment of two new members to its Board. Nigel Dunkley with a long-standing and successful association with the Group, most recently representing Momentum Metropolitan’s (MMH) interests in the UK, Guernsey and Gibraltar and Seelan Gobalsamy, strategically astute and a top-performing and experienced business leader.
Momentum Metropolitan Holdings has completed the registration and accreditation of four mass vaccination centres in Cape Town, Durban, Johannesburg and Pretoria, and expects to start administering vaccines later this week in Gauteng depending on the delivery of the first vaccine consignments ordered. The coastal centres are expected to follow suit next week, again dependent on the delivery of the vaccine consignments.
Momentum Metropolitan Holdings today (Thursday 22 April 2021) delivered on its proposed Employee Ownership Share Plan (ESOP) empowering over 13,000 employees from an allocation of over 44.9 million shares. This follows the shareholder approval as announced in November 2020.
We have been working hard with government and other role-players in driving a successful vaccine rollout strategy. We would like to share our progress on enabling the vaccination of our members and South Africans. (Our members include all members of all the medical schemes administered by our Health business.)
As times get tougher, scammers are becoming more determined and craftier at cheating people of their money. Stay alert and report any suspicious behaviour to your financial advisor.
Group grows new business by 14% in difficult conditions
Momentum Metropolitan Holdings has been awarded Top Employer Certification from the International Top Employer Institute, the global HR authority on certifying excellence in employee conditions.
Momentum Metropolitan’s employee share ownership programme (ESOP) to strengthen its B-BBEE ownership and retain its competitive Level 1 B-BBEE rating, has received the requisite approval from shareholders and will now proceed to implementation. The vote took place during a General Meeting, held in Johannesburg on 26 November 2020. The transaction was resoundingly supported by more than 99% of shareholders, more than the 75% required.
Momentum Metropolitan’s employee share ownership programme (ESOP) to strengthen its B-BBEE ownership and retain its competitive Level 1 B-BBEE rating, has received the requisite approval from shareholders and will now proceed to implementation. The vote took place during a General Meeting, held in Johannesburg on 26 November 2020. The transaction was resoundingly supported by more than 99% of shareholders, more than the 75% required.
