EZULWINI– Only about three per cent of Eswatini’s population of approximately 1.2 million people are insured, a figure described as alarmingly low.
This was an estimate made by Old Mutual Eswatini Business Development Manager Banomile Hlatshwayo. She said in Africa generally, about three per cent of the population was insured adding that this is also the situation in the kingdom.
Hlatshwayo made the revelation during the official launch of a strategic partnership between Old Mutual Eswatini and Ekhaya Funeral Parlour at the Royal Villas. The collaboration aims to provide a comprehensive, seamless support system for grieving families by bridging the gap between financial protection and practical funeral services.
“The figure is very small,” Hlatshwayo said, noting that Eswatini mirrors many parts of the African continent where insurance penetration remains low. She emphasised that the partnership is rooted in a shared commitment to walk alongside families through every stage of life’s journey.
“Why are we here today? We are here because every family deserves peace of mind,” Hlatshwayo stated. She added: “We are here because life is a journey that deserves protection, dignity, and care at every stage. And we are here because together, Old Mutual and Ekhaya Funeral Services believe that families should never have to walk life’s most difficult moments alone.”
Highlighting Old Mutual’s 180-year legacy since its founding in 1845, Hlatshwayo reflected on the company’s evolution from offering financial products to serving as a lifelong partner for generations of families. “At Old Mutual, we believe insurance is not about policies and premiums. It is about promises,” she noted.
The partnership was officially unveiled during a ceremony attended by executives from both organisations, including Ekhaya Funeral Parlour Director Musa Vilakati. Old Mutual Eswatini Chief Executive Officer Muzi Bell’s address was delivered on his behalf by Chief Financial Officer Mbongeni Mkhabela.
Speaking on behalf of the CEO, Mkhabela emphasised that the responsibility of a financial institution does not end when a client purchases a policy but begins when a family faces the emotional burden of loss. “When a family loses a loved one, the emotional burden is already significant,” Mkhabela shared, adding that beyond grief, families are often confronted with the practical and financial demands of arranging a dignified funeral.
Central to the initiative is Old Mutual’s Sizotsa Funeral Cover, launched in March 2026. Designed around the unique dynamics of emaSwati family structures, Sizotsa offers flexible, accessible, and affordable protection that accounts for extended family members. The product has seen strong market reception since its rollout.
Vilakati described the partnership as a great development particularly for the public who will benefit from it. He said Ekhaya Funeral Parlour has coverage throughout the country, partnering with other mortuaries where they do not have facilities. Some coffins were displayed during a presentation, including one priced at approximately E60 000. Vilakati noted that though Old Mutual and Ekhaya are competitors in some products, they agreed to collaborate to provide the best service for clients.
The collaboration combines Ekhaya’s operational expertise in funeral service provision with Old Mutual’s stability in financial protection, aiming to transform funeral cover from simple cash distribution into a complete, supported customer experience. Both teams will work closely to streamline claims processes and remove administrative hurdles for policyholders during times of distress.
About Old Mutual Eswatini
Old Mutual Eswatini is part of the Old Mutual Group, a pan-African financial services group committed to helping individuals, businesses, and communities achieve their financial goals. Through its Sizotsa Funeral Cover, launched in March 2026, Old Mutual offers accessible and affordable funeral protection designed to reflect the unique family structures and cultural realities of Eswatini.
About Ekhaya Funeral Parlour
Ekhaya Funeral Parlour is a funeral service provider dedicated to supporting families with funeral arrangements and services during times of bereavement, ensuring that dignity and compassion remain central to the way families are served.
