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Enterprise Extends Its Partnership with the Sanlam Group of South Africa

Enterprise Group Limited has sold a 40% minority stake in its subsidiary Enterprise Insurance Company Limited, to Sanlam Emerging Markets Proprietary Limited of South Africa (“Sanlam”), subject to regulatory approvals.

Sanlam is an existing shareholder in two other companies within Enterprise Group: Enterprise Life Assurance Company Limited and Enterprise Trustees Limited. The 13-year old partnership between Enterprise Group and Sanlam has been mutually beneficial and very successful, and it is expected that bringing Sanlam into the general insurance business will enhance the Group’s operations as a market leader in Ghana’s insurance industry.

Kwame Ofori, Executive Director of Enterprise Insurance says that “Sanlam’s interest in Enterprise is a confirmation of what we have known all along - that Enterprise Insurance is a truly great Company. The track record of Sanlam within the Enterprise Group gives us great hope for the future”

Ernestina Abeh, General Manager Operations, says “The involvement of Sanlam will greatly enhance our prospects for Global businesses. Our aim to be No 1 is truly within reach”.

Phyllis Woode-Nartey, Head, Business Development & Communications says “We believe that this partnership ushers in an exciting era for this company as we benefit from an infusion of new ideas, new skills and a fresh new outlook. We look forward to great times ahead”.

Alexander Ahenkorah- Anane, Head, Finance says “The partnership presents a strong financial buffer for the company, once again setting us ahead of the competition”.

Keli Gadzekpo, CEO of Enterprise Group, says “we are delighted with this opportunity to further strengthen our relationship with Sanlam. No doubt our shareholders will also be pleased with the increase in the Group’s cash reserves and what this transaction means for our ambitious growth strategy”.

From the Human Resource perspective, the opportunities for employee development are enormous. This is certainly a great time to be an employee of Enterprise.

Sanlam is a fully diversified financial services business with operations in countries across the Continent including Botswana, Namibia, Malawi, Kenya, Tanzania, Rwanda, Zambia, Ghana, Nigeria, Uganda and Swaziland.

Enterprise Group retains 60% majority shareholding in Enterprise Insurance Company Limited.

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