Enterprise Group expands to West Africa –Goes into health insurance business

Enterprise Group expands to West Africa --Goes into health insurance business

Enterprise Group PLC is on course to achieve its five year (2012-2024) strategy, Group CEO, Mr Keli Gadzekpo has said.

He said key aspects of the five year strategy included an expansion into the West African market and the identification of a strategic partner for its health insurance business.

Speaking at the “facts behind the figures” series which is organised by the Ghana Stock Exchange (GSE), he said “this year, we have been able to realize the remaining two of the key objectives of our 2018 rights issue, as spelt out in our five year strategic plan.

“We have expanded into Nigeria as part of our growth plans for the sub-region, and have concluded the acquisition of Acacia Health Insurance so we can bring our advantage to Ghanaians through unparalleled health insurance services,” he stated.

Strong performance

He said despite a tough operating environment caused by the COVID-19 pandemic, Enterprise Group’s shares remained relatively stable, with some gains.

He pointed out that the Group began the year with a share price of GH?1.40 and has since gained 79.3 per cent, ranking it sixth on the GSE in terms of year-to-date performance.

The Group CEO said the COVID-19 pandemic also accelerated the adoption and use of innovation to minimize the impact on day to day operations.

Investment in technology

Having invested significantly in technology, he said the business seamlessly rolled out its agile working system, enabling staff to work remotely, to ensure business continuity.

He said the Group currently has 20 per cent share of the Ghanaian insurance market ( i.e. life, insurance and health), and 24 per cent of Pensions Assets Under Management.He said its Transitions and Enterprise Properties also remained formidable operators in the funeral services and real estate industries, respectively.

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