Publicly listed life and non-life insurer, pensions and real estate services provider Enterprise Group has set out on an ambitious growth journey that will position it to deliver sustainable profits to investors and shareholders.
The company is seeking to rope in an estimated GH¢2bn in net income from its chain of subsidiaries in an audacious move that will be pillared on expertise, innovation, an aggressive digital transformation strategy and access to new markets.
To achieve this, Group Chief Executive Officer Keli Gadzekpo, says there will be a robust plan to nurture, empower and inspire its people to meet both current and future needs of the market whilst cultivating a culture of innovation to generate new business leads.
“We will break barriers into new markets segments, channels and geographies in West Africa and also leverage the Group’s structured and strategic partnerships to win together,” he added, speaking at the company’s turn on the Ghana Stock Exchange’s Facts behind the Figures.
Three years to the goal, the group says the target is still realistic counting on the solid fiscal performance of the various subsidiaries that are operated by the Group.
Enterprise Group’s net income has grown by 43percent to GH¢858m in 2021, with similar rises in net premium and returns on equity and assets, which registered growth of 29percent, 11.2percent and 6.4percent respectively.
“Despite the pandemic, the company has continued to grow from strength to strength. Going forward, we foresee growth for all our businesses in life and general insurance, pensions, health insurance etc.,” Mr. Gadzekpo added.
Enterprise Group currently leads the pack in the various markets it has business interest, commanding 20percent of the domestic insurance business, being the leading player in both the life and non-life sectors.
Its asset management subsidiary, Enterprise Trustees, also leads the market with about 25percent share of total assets under management, with similar imprints for its properties and funeral home businesses.
To further consolidate its grip on these markets and boost regional appeal, the Group recently acquired the fast-rising health insurer Acacia and has also extended its operations to Nigeria, where it is seeking to carve a niche market leveraging its comparative advantages.
Touching on the brand’s digital agenda, the Group CEO said: “At the core of everything we are doing is our customer and so we are really focused on using not just digital, but any other means of enhancing customer experience.”
He added: “The plan is to be able to afford our customers the ability to interact with us anytime and however, and that’s the forecast for our companies.”