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    Deadline for debt exchange program moved to February 7 with new terms

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    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

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    MTN to fight $773m tax bill from government

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    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

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SA’s Sanlam increases stake in EIC

bycitibusinessnews
October 7, 2014
in Banking And Finance, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Citi Business News has learnt that South African insurance firm Sanlam has increased its stake in Ghana’s Enterprise Insurance Company.

Sanlam has acquired a 40 percent stake in a unit of Ghana’s Enterprise Insurance Company for about $21 million, in its latest move to expand in sub-Saharan markets.

The deal remains subject to regulatory approval in Ghana

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Sanlam already owns 49 percent of Enterprise’s life insurance business and 40 percent of its pension fund administration arm.

Sanlam in a statement says it is glad to have made the move in acquiring part of Enterprise’s non-life insurance business.

According to the National Insurance Commission market penetration for insurers in Ghana is about 1.1 percent with the market growing at an annual average of 26 percent over the past five years.

 

By:  Norvan Acquah Hayford/citifmonline.com/Ghana

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