Enterprise Trustees, the Pensions Management subsidiary of Enterprise Group Limited (EGL) was incorporated on 8th November 2010 in partnership with the Sanlam Financial Group of South Africa. It was one of the first Corporate Trustees to be licensed in 2011, by the National Pensions Regulatory Authority (NPRA). Trustee operations
In 2017, Enterprise Trustees welcomed a new strategic partner Black Star Holdings Limited (BSHL). BSHL is wholly owned by Leapfrog Strategic African Investments who have more than $1 billion in assets under management and a portfolio of companies across Africa and Asia focused on financial services and health.
Enterprise Trustees benefits additionally from the high corporate governance extended to listed entities.
Since 2012 despite operating in a fairly new industry, Enterprise Trustees has steadily grown its book and is currently the leading Corporate Trustee in Ghana with over GH⊄2.4 billion Assets Under Management (As at December 2017).
The company provides pension services for over 3,000 leading industry players including major Regulatory bodies across all industries with
Additionally, Enterprise Trustees through
Enterprise Trustees has received a number of awards, these include;
1. 2018 Ghana Club 100 Awards - 10th Position (Still the Only Corporate Trustee)
2. Second Fastest Growing Company (2018 Ghana Club 100 Awards)
3. Corporate Trustees of the Year 2018 (Ghana Accountancy & Finance Awards)
4. Pension CEO of the Year 2018 (Ghana Accountancy & Finance Awards)
5. 2017 Ghana Club 100 Awards (25th Position) – Only Corporate Trustee
6. 2016 Ghana Club 100 Awards – First and Only Corporate Trustee
7. Ghana Accountancy & Finance Awards 2017;
- Most Transparent Corporate Trustee ( Sponsored by the NPRA)
- Pension Trustee Board of the Year
- Pension CEO of the Year – Joseph Ampofo
Enterprise Group, a
Corporate Social Responsibility
The Group's social commitment has had a two faceted approach.Our principle and criteria for support are in promoting health and education across our footprint.
In 2012, we shifted our focus from providing assistance generally to a community and took a focused approach in supporting some key associations and organizations that have been under funded over the years such as the Autism centre in Accra. We have nonetheless kept our promise on on-going projects, key amongst them, our library project in the upper west region.
The Enterprise brand is based on the concept of "The Thoroughbred".
"The Thoroughbred is a horse of outstanding pedigree with an inherent disposition to be the best" Born of outstanding parentage, excellence is just in our nature.
This endows us with sheer power and muscle, which enables us to deliver the quality service and solution our scheme members desire and expect. That is why our scheme members confidently testify that, truly we deliver your advantage.
Joseph is responsible for leading the team at Enterprise Trustees to deliver retirement solutions to Companies and Individuals across Ghana. He has a strong dedication to client service excellence and this he has ensured runs through the entire organization. Until this appointment to head the business in 2013, he headed the Sales & Marketing division to drive business growth upon receipt of
Joseph has had over 18 years’ experience in the Enterprise Group performing various leadership roles. Until joining Enterprise Trustees, Joseph was at Enterprise Insurance where he held various roles largely as a turn-around specialist. As Branch
His relationship with Enterprise began in 1998 when he joined the company for National Service, having graduated from the University of Ghana with a Bachelor of Arts Degree in Political Science and Sociology. He holds a Diploma in Insurance & Pensions from the West Africa Insurance Institute (WAII) in The Gambia, having completed with Distinction, and an Advanced Diploma from the Ghana Insurance College as well as a Cert CII Holder of the Chartered Insurance Institute of UK.
In 2011, Joseph successfully completed a 12 month Executive Senior Management Development program from
Yaw holds a BA degree in Economics with Sociology from the University of Ghana, Legon and is a member of the Association of Certified Chartered Accountants (ACCA). Yaw comes to this position with a wealth of experience in internal audit, control, compliance, investigation, project audits and systems review for 5 years, Yaw worked with ECOBANK Ghana Limited as Senior Internal Auditor responsible for the yearly bank-wide risk assessment for the development of the audit budget. He was senior associate II in the audit department of KPMG where he supervised the execution of audit engagement.
Ms. Hilda Owusu is a manager and specialist in service delivery procedures and processes. Her administrative skills and competencies relate not only to back office operations but to frontline operations as well. She has demonstrated her knack for operations management during her six years at Enterprise Life, where in various capacities she contributed to the company's success in recent years. Hilda Owusu comes to Enterprise Trustees from Enterprise Life with valuable experience as the head of policy administration from April 2008, Claims Officer (January to August 2006) and Customer Relations Officer (January 2004 to December 2005). Prior to joining Enterprise Life, Hilda worked at the Institute of Local Government Studies from August 2002 to August 2003, as an administrative assistant. Hilda holds an MA in Development Studies from the Institute of Social Studies, The Hague, and a BA(hons) degree in Geography and Resource Development, from the University of Ghana.
Maclean comes to this position with a wealth of experience in Sales & Marketing and Client service. Until his appointment as Head of Client Relations, he was a Client Relations Manager at Enterprise Trustees. He has over 9 years with the Enterprise Group. Prior to joining Enterprise Trustees, the pension’s subsidiary of the Group, Maclean was a Sales Manager at Enterprise Life. At Enterprise Life, for three years running he was adjudged a Top Sales Manager. He holds a Master’s degree in Business Administration from the Leeds Metropolitan University (UK) and Bachelor of Science honors degree in Tourism from the University of Cape Coast. He is undertaking Chartered Insurance Institute Associate programme with one module to complete.
Alfred is currently the HR Business Partner for Enterprise Trustees. He is responsible for Recruitment, Learning and Development, Performance Management, Disciplinary & Grievance Management and other core HR duties that support the business to achieve strategic objectives of the organization.
Prior to joining Enterprise Group, he worked as HR Officer for Unique Insurance Company Limited. Alfred has played various roles in the HR space for Enterprise Group, first he worked for Enterprise Life as a Unit Head HR where he played a supporting role for managing Recruitment, Training and Core HR Operations.
He also worked as Bancassurance Liaison Officer between Standard Chartered Bank and Enterprise Life. Alfred holds a bachelors in Bsc. Human Resource Management and an MBA (HRM Option) from the Methodist University College of Ghana. Alfred has passion for youth development and capacity building and is currently involved as a youth leader in his local congregation.
To provide contributors with additional retirement to complement mandatory pension schemes.
Open to all employees of participating employers.
No restricitions on contribution percentages.
Stanbic Bank Ghana Limited.
Scheme Fund Managers:
Multiple Fund Managers approved by the NPRA
An asset based fee in line with NPRA provisions.
Online access to statement
Retirement planning support
Provide yearly relevant demographic reports to help with human resource planning
Prompt responses to enquires from Dedicated Relationship officer
Opportunity to get discounts on corporate risk covers from Enterprise Life & Enterprise Insurance
Audited statement from “A” rated firm.
Annual Scheme report
The Enterprise Personal Pension Scheme allows formal sector workers to make additional contributions towards retirement. This is geared towards enhancing their retirement benefit outside the mandatory schemes and any provident fund scheme.
Informal sector workers, who are usually not covered by the mandatory pension schemes, are also catered for under this scheme.
How does this scheme operate?
The scheme is administered by a Trust and contributions received from individuals into the pension scheme are invested per scheme’s Statement of Investment Policy and in line with National Pensions Regulatory Authority guidelines. The scheme pays out lump sum benefits at retirement.
Contributions from formal sector workers are held in one account. Contributions from informal sector workers are apportioned into two different accounts based on the member’s preference. ie. Savings Account and Pension Account. Persons above 60 can opt to hold a pure savings account. Members are at liberty to switch from one plan to another and will be limited to a total number of switches of three (3) in the life time of the contract. No switching before the first twelve months, and no additional switches within 24 months of a previous switch.
When are benefits paid?
Formal Sector Worker
Contributors less than 50 years at entry can opt to make partial withdrawal in the last five years of the Savings Period. Minimum savings period is 10 years. Withdrawal in the last five years is limited to one withdrawal not exceeding 25% of total available benefit.
Contributors above 50 years at entry can make partial withdrawal after two years but limited to one withdrawal per year after qualifying for withdrawal. No restriction on percentage available for withdrawal.
Informal Sector Worker
The Pension Account:
Withdrawal is allowed on this account under the following conditions:
• Early retirement
• Permanent Physical or permanent disability
Member can access the total of his benefits in lump-sum pay-out without deducting taxes
The Savings Account:
Withdrawal is allowed on this account under the following conditions:
• After 36th month.
• Partial withdrawal limited to 50% of the fund.
• Partial withdrawals then allowed every two years after the initial withdrawal of not more than 25% of the fund.
• Withdrawals on Pre Tax contributions prior to fifth year are tax deductible
• Total lump sum pay out after fifth year Anniversary without tax deductions
• Early retirement
• Closure of account
Ghana’s largest and oldest financial services company, Enterprise Group, has launched its new mobile and web application - Enterp...
Ghana’s largest and oldest financial services company, Enterprise Group, has launched its new mobile and web application - Enterprise Advantage App at their ultra-modern Head office - Advantage Place.
The Enterprise Advantage app is the only application available currently that offers access to products that span insurance, pensions, funeral services and real estate. It serves as a single gateway into all the products and services available from the Enterprise Group and has been described as a “one-stop shop for Enterprise in the palm of your hand”.
Launching the app, the Chief Executive Officer for Enterprise Group, Mr. Keli Gadzekpo, commended the team for their hard work, dedication and commitment. He expressed appreciation to customers for their trust and support throughout the 95 years history of the brand, “In a world where the average Ghanaian checks his phone often, the Advantage app will offer more to consumers. Welcome to the new digital age with Enterprise Group” he stated.
The event saw in attendance, Mr. Justice Ofori, the Commissioner of the National Insurance Commission, Mr. Hayford Atta Krufi, CEO of National Pensions Regulatory Authority, the Enterprise Board, Management among other stakeholders each of whom commended Enterprise for the initiative to grow Insurance and Pensions in Ghana.
The easy-to-use app available on ‘Google Play Store’ and the ‘Apple App Store’ also comes with a ‘Resource Centre’ feature that includes Tech Tips, Live Traffic Feed, Health Tips, DIY, etc. The app comes with a location assistant with all Enterprise Group offices, emergency numbers of the security services and utility centers across the country.
Enterprise Trustees Limited, the leading private pensions Corporate Trustee in Ghana,...
Enterprise Trustees Limited, the leading private pensions Corporate Trustee in Ghana, has introduced a USSD short code *714*333#. The campaign dubbed: ‘It’s in Your Hands’ provides the opportunity for All to;
by dialing *714*333# on their mobile phones.
Speaking on this initiative, the Managing Director for Enterprise Trustees, Mr. Joseph Ampofo said, "Fast, safe and secure convenience is our goal, as we seek to improve our solutions to all whom we engage to give them the Advantage they desire. Our aim is to get as many Ghanaian workers both formal and informal to take responsibility for their retirement needs and to broaden enrollment in the pension’s space. Our existing customers also benefit from this Initiative as they now have an additional quicker and easier alternative process to access their current pension accounts on the go.”
Mr. Maclean Aggrey-Fynn, Head of Sales & Marketing added, “The most interesting feature of the short code is that registration and payment from your mobile wallet can be completed instantly. It is important workers voluntarily and actively top up their retirement funding. Maintaining a current lifestyle is dependent largely on the voluntary retirement funds we build up. So wherever they might be, because yesterday is gone, and tomorrow never comes, and that leaves us only today; start to dial 714*333#.
Mr. Hayford Attah Krufi, Chief Executive Officer of National Pensions Regulatory Authority (NPRA), commenting on this initiative stated “Pensions like death is inevitable and we all need to plan towards it. With our vision to ensure retirement income security we endorse this product which is registered and regulated by NPRA.”
The introduction of the short code*714*333# is to operate alongside the Member online portal solution ‘The Stable’(https://thestable.enterprisegroup.net.gh:8085/Mss/) which assist members check their contribution statement, update beneficiary information, view their member certificate and update their personal information.
Enterprise Trustees is the Pensions subsidiary of Enterprise Group Limited (EGL) and licensed by the National Pensions Regulatory Authority. It is the first and only Corporate Trustee in the prestigious Ghana Club 100 and currently ranked 10th as at 2018 rankings. For further information on 714*333# you may reach Enterprise Trustees via; firstname.lastname@example.org, or call center 0302 634 704.
As part of its client engagement agenda management of Enterprise Trustees Ltd, the leading Corporate Trustee of private sector pensions...
As part of its client engagement agenda management of Enterprise Trustees Ltd, the leading Corporate Trustee of private sector pensions under the new 3 Tier Pension Scheme hosted its clients primarily in Tamale in the northern region to a stakeholder dinner.
The Board Chairman, Mr Fiifi Kwakye who led the team, reiterated the commitment of management to remain relentless in the quest to deliver best retirement solutions to its customers. “As Corporate Trustees, we cherish the confidence you have entrusted in us to manage your pensions and we are committed to ensuring that your funds are managed prudently in order for members to enjoy a secure retirement” he said. “Despite the challenges in the financial sector over the past year, the Board of Trustees and investment committee of the schemes have worked hard to ensure funds are in very safe and permitted investment classes as well as yielding significant returns” he added. He stressed that the company recognizes the importance of communicating with members and updating them on the performance of their scheme funds hence the stakeholder forum to meet and interact on issues affecting the scheme.
According to the Board Chairman, over the years, the Trustees has evolved its operations and come up with innovative ways of managing pension funds such as the introduction of the member online portal ‘The Stable’ which is aimed at helping members to access their pension contribution statements and update their personal information, SMS alert to update members when allocations are made into their accounts, another innovation in the industry as well as member scheme booklet to educate members about the scheme.
The Head of Finance of the Company, Mr. Yaw Kusi-Acheampong reassured members on the safety of investments made on their behalf. He reiterated the steady decline in inflation, and other measures implemented by the previous and current governments were aimed at achieving economic stability which resulted in interest rates trending downwards but for recent external shocks suffered by the economy. He said the scheme seeks to provide retirement income security for workers and also ensure that every worker receives retirement and related benefits as and when due promptly. “Our objective is always to achieve net returns above the inflation rate and so the scheme board and the Investment Committee members worked hard to achieve that for our clients” he said.
The Assets under Management (AUM) of schemes managed by Enterprise Trustees grew from GH¢1.7billion in 2017 to about GH¢2.5billion as at 31st December, 2018 representing a growth rate of 47% over the prior year.
Notwithstanding the challenges in the financial services sector, the scheme was able to achieve an impressive net annualized return to members at 15.53% which compared favorably with the average year end inflation rate thereby returning positive real returns of 5.68% to its cherished members as in line with scheme’s investment policy to achieve real returns.
The effort to rake-in the Temporary Pension Fund Account (TPFA) continued with a receipt of about GH¢7.9 million on behalf of members for the last quarter of 2018. From the period the National Pensions Regulatory Authority (NPRA) commenced payment of the TPFA, a total of Ghs167.4 million had been received and allocated to the credit of about 82,660 members. Members are encouraged to log into Stable to verify the details of payment as received from NPRA
The event on the theme “Time with Trustees” was also used to honor some top most clients for voluntarily signing up to the Tier 3 schemes (Provident Fund Scheme) which enables the members enjoy tax incentives under the pensions act whilst making adequate provision for retirement. Also, those who have been consistent in payments of the mandatory Tier 2 contributions and others for their loyalty were recognized.
The Regional Representative for the National Pension Regulatory Authority in the North, Mr Alhassan Yakubu who was present at the event stated efforts being made to educate the public in the Northern Region on the need to invest in their future to avoid any future misfortune. He added that the Authority has been embarking on rigorous exercise to ensure that organizations adhere to the scheme adding that the establishment of stronger policies will force the private sectors to comply with the country’s pension laws, so that contributions of their employees would be paid to the corporate trustees to secure their future.
The Regional Representative for Enterprise Trustees who hosted the team, Mr Laabik Bawumia, said the company has introduced the Enterprise Personal Pension Plan an individual retirement plan that allows individuals to make additional voluntary contributions towards a better retirement. According to him, with the new policy, investment income and monthly contributions are tax exempt saying the assets can be used as collateral for a mortgage.
In attendance were over 70 client representatives, staff of National Pension Regulatory Authority(NPRA),Social Security and National Insurance Trust(SSNIT), Mr John Fiam-Coblavie, the Independent Trustee as well as other staff Members of Enterprise Group.
Enterprise Group Limited is pleased to ...
Enterprise Group Limited is pleased to announce the reorganization of its business structures resulting in a number of new appointments, with effect from 2nd
Kwame Ofori, who held the office of Executive Director of the General Business subsidiary, Enterprise Insurance from 2010 to 2018, will become Executive Director of a new Specialist Risk Business being established by the Group.
A fellow of the Insurance Institute of Canada (FCIP), Kwame holds a Bachelor of Arts Degree and an Executive MBA in Marketing from the University of Ghana. Under his leadership, Enterprise Insurance consistently delivered Underwriting Profit and consolidated its position as the largest privately owned General Insurance company in the country. A seasoned business leader, Kwame has also held a number of positions within the Insurance Industry including Vice President of Ghana Insurers Association and Chairman of the Ecowas Brown Card Bureau.
Mrs. Ernestina Abeh has been appointed as Managing Director of Enterprise Insurance. Prior to her appointment, she was the General Manager, Operations, a position she has held since 2010.
Tina is a Chartered Insurer from the Chartered Institute of Insurance (UK). She holds a Bachelor of Arts Degree from the University of Ghana and an Executive MBA from The Ghana Institute of Management and Public Administration. Her promotion to Managing Director is after over 20 years’ experience in the Insurance Industry, most of which was at Senior Management level.
Mrs. Akosua Ansah-Antwi, previously the Head of Broker & Southern Sector, has been promoted to General Manager, Operations.
Akosua is a Chartered Insurer from the Chartered Institute of Insurance (UK) and has been in the mainstream insurance business since she joined Enterprise Insurance in 2000.
Enterprise Life Assurance Company Limited, which is the market leader in the Life Insurance Industry, has also seen a number of significant changes:
Mr. Francis Akoto-Yirenkyi, previously General Manager Operations, now takes up the newly created position of General Manager, Distribution. The position was created to bring more focus to the retail segment of the market. A chartered Insurer from the Chartered Institute of Insurance (UK), Francis has 13 years’ experience in the Life Insurance industry under his belt.
Mrs. Solace Odamtten-Sowah joined Enterprise Life in 2008. A Chartered Insurer also from the Chartered Institute of Insurance (UK), Solace has been part of Senior Management for 7 years. She has been promoted to General Manager, Operations.
Where relevant, the foregoing appointments are subject to regulatory approval.
The appointments will further strengthen the Executive Management Team of the Group and its subsidiaries and help in fulfilling the mission to “provide all who come in contact with us, their desired advantage”.
In announcing the appointments, Mr. Keli Gadzekpo, Group CEO, congratulated the new appointees and expressed his confidence that the appointments will help the Group and its subsidiaries reach full potential, with the support of all stakeholders and cherished clients.
About Enterprise Group
Enterprise Group Limited (GSE: EGL) is a financial services company comprising five operating companies; Enterprise Insurance Company, Enterprise Life Assurance Company, Enterprise Trustees, Enterprise Properties and Enterprise Funeral Services Ghana trading as ‘Transitions – The Funeral People’. It is headquartered in Accra and has operations in The Gambia.
Enterprise Trustees Limited has emerged...
Enterprise Trustees Limited has emerged the 10th Best Company of the Year in the 17th Edition of the Ghana Club 100 Awards organized by the Ghana Investment Promotion Centre (GIPC) in Accra. The company is still the first and only Corporate Trustee in the prestigious Ghana Club 100 for three consecutive years.
At the same event, Enterprise Trustees was also recognized as the 2nd fastest growing company in Ghana.
Receiving the awards, the Head of Finance for Enterprise Trustees, Mr. Yaw Kusi Acheampong said “We are greatly
He further appreciated all clients for their loyalty and support over the years.
In attendance were the Finance Minister, Ken Ofori Atta; Governor of Bank of Ghana, Dr. Ernest Addison and the Deputy Finance Minister, Kwaku Kwarteng who delivered the keynote address on behalf of the President Nana Addo Dankwa Akuffo-Addo.
In his address, Mr. Kwaku Kwarteng said the theme for the Ghana Club 100 awards, “Technology, Innovation, and Entrepreneurship: Opportunities for Growth and Job Creation." resonated with the governments’ efforts to create an enabling environment for innovation and infrastructural growth in Ghana.
Enterprise Trustees continues to be recognized for its leadership and contribution to the Pensions Industry. Earlier this month, the company won the Corporate Trustee of the Year and their Executive Director, Mr. Joseph Ampofo was adjudged the Pension CEO of the Year at the Ghana Accountancy and Finance Awards. The company was licensed as a Corporate Trustee in 2012 by the National Pensions Regulatory Authority (NPRA) and remains one of the few Corporate Trustees in good standing.
The Ghana Club 100 (GC 100) is an annual compilation of the top 100 companies in Ghana based on size (turnover), growth and profitability to give due recognition to companies that are building successful
Enterprise Trustees Ltd, a Member of En...
Enterprise Trustees Ltd, a Member of Enterprise Group and Ghana’s leading private sector pension service provider, re-affirmed its hold in the industry as it was awarded two prestigious awards at the 2nd edition of the Ghana Accountancy and Finance Awards organized by Strategic Accountancy Africa in partnership with the National Pensions Regulatory Authority, Association of Certified Chartered Accountants, Chartered Institute of Management Accountants and endorsed by the Ministry of Finance. The awards were:
The event held at the Movenpick Ambassador Hotel last
Commenting on the awards, Mr. Joseph Ampofo said “I am deeply humbled by the recognition given to the firm and myself and believe this gesture would continue to boost the morale of the team to go the extra mile to deliver enhanced client experience and the needed outcomes in retirements. We thank our clients, stakeholders, Board of Trustees and shareholders for their continued support and loyalty to the Enterprise Brand.”
Over the years, Enterprise Trustees continues to be at the forefront of advancing accountability and innovation in Pensions Industry in Ghana through various initiatives such as; a member online portal ‘The Stable”, USSD payment solutions and Retirement Planning Seminars held across Ghana.
For their outstanding performance...
For their outstanding performance and critical contribution to the economic development of Ashanti Region, Enterprise Trustees Limited has been awarded the financial excellence award, Gold category at the 15th Ashanti Financial Excellence Awards recently held in Kumasi.
The event was organized by Top Brass Ghana Limited under the auspices of Manyhia Palace to give recognition and celebrate companies offering innovative financial solutions to the people of Ashanti Region.
Expressing her gratitude to the organizers of the event, the Branch Manager of Enterprise Trustees in Kumasi, Evelyn Mensah Attah said; “We are excited to be honored by the Manhyia Palace, and for us, this is a testament of our relentless efforts over the years. We are committed to putting our clients first in all we say and do because without them we have no business.”
“Enterprise Trustees always has and will continue to strive for excellence in all frontiers. This recognition is an incentive to do more and create sustainable retirement security for our clients.” She added.
Enterprise Trustees Limited (ETL) is the Pensions Management subsidiary of Enterprise Group Limited (EGL). Licensed in 2011 by the National Pensions Regulatory Authority (NPRA), Enterprise Trustees seeks to provide its clients a secure and comfortable retirement through sound financial management.
Enterprise Trustees Limited, the Leadin...
Enterprise Trustees Limited, the Leading Corporate Trustee in Ghana, has held a private equity seminar as part of the Corporate Trustees’ responsibility to train its Scheme Board members.
The event, held at the company’s new corporate Head Office Advantage Place on Wednesday 11th July 2018, brought together Scheme Board Members from Enterprise Trustees’ Master Trust Schemes as well as Scheme Board Members from
The Executive Director for Enterprise Trustees, Mr. Joseph Ampofo expressed the company’s commitment to ensuring that funds are managed effectively to the benefit of members.
“As the leading corporate trustee, we owe the responsibility to our members to safeguard their funds and manage them prudently by adhering to the National Pensions Regulatory Authority’s requirements in training our scheme board members. We maintain our key promise to create wealth for scheme members for their retirement.”
The session was facilitated by Injaro Investments and Oasis Capital.
Speaking on the importance of the seminar, Mr. Jerry Parkes from Injaro Investments reiterated the need for scheme board members to identify alternative investment opportunities outside the traditional investment options such as private equity, hedge funds and venture capital that will generate significant profits when adequately funded and well managed.
Enterprise Trustees Limited (ETL) is the Pensions Management subsidiary of Enterprise Group Limited (EGL). Enterprise Trustees is the leader in Ghana’s Pension Industry with 28.5% of the market share and assets under management of over GH⊄1.7 billion.
The Health Scheme Occupational Pension ...
The Health Scheme Occupational Pension Scheme (HSOPS) has launched a website hsopsghana.com as part of its efforts to provide members of the scheme with concrete information and give them access to track their pension contributions.
Launching the scheme, the Deputy Minister of Health Mr. Kingsley Aboagye Gyedu who was Guest of Honour at the occasion applauded the Board of Trustees of the HSOPS for their initiative in providing members with first-hand information on Pensions and also giving access to members to track their second tier contributions.
The Chief Director at the Ministry of Employment and Labour Relations, Mr. Rudolph Kuuzegh described the HSOPS as a
“We all have a lot to learn from the HSOPS. As far as the scheme is concerned, the work of the Trustees is to do what is right to the benefit of the scheme members and I can say that the HSOPS is doing an excellent job in this regard,” he said.
The Chairman of the Board of Trustees of the HSOPS, Dr. Derek Amoateng, said the scheme, made up primarily of Ghana Medical Association (GMA), Ghana Registered Nurses and Midwives Association (GRNMA), Government Hospital Pharmacists Association (GHOSPA), Health Services Workers Union (HSWU) and its allied unions has made significant strides since it started operations in 2012.
He said the scheme’s asset under management has experienced tremendous growth due to prudent management and wise investment decisions made by the Board. He
Speaking on the benefits of the website, the Executive Director of Enterprise Trustees Limited administrators of the scheme, Mr. Joseph Ampofo said the website has been designed as a
He urged all members of the scheme who have not yet filled their enrollment forms to contact their head of facility and do so in order to access their member statement and other relevant information through the website.
The HSOPS is one of the four public sector schemes currently operating in Ghana.
It is a second tier scheme structured to conform to requirements of the National Pensions Act, 2008 (Act 766). This will enable members to enjoy the tax reliefs and other benefits provided under the Pensions Act 766. The scheme is an
Enterprise Trustees retained its positi...
Enterprise Trustees retained its position as the only corporate Trustee in the Ghana Club 100 at the recent Ghana Club 100 awards held at Kempinski Hotel on the 30th of November 2017. Enterprise Trustees experienced tremendous growth in its operations to attain the 25th position at the 16th Edition of Ghana Club 100 Awards, having ranked 100th in the previous year.
Enterprise Trustees, the leading private pension administrators in Ghana achieved this feat after a rigorous exercise, which ranked companies that entered the competition based on size (turnover), growth and profitability.
The Ghana Club 100 event was organized by the Ghana Investment Promotion Centre (GIPC) under the theme “Industrialization – A tool for job creation and Accelerated Economic Development”. The Ghana Club 100 ranking is an annual initiative to
Expressing his elation about the recognition, the General Manager of Enterprise Trustees Mr. Joseph Ampofo said, “This is a
As a business, we are excited about what the future holds for us as we remain committed to offering only the best to our clients.” He dedicated the award to cherished clients.
Enterprise Trustees Limited (ETL) is the Pensions Management subsidiary of Enterprise Group Limited (EGL). Incorporated on 8th November 2010, Enterprise Trustees is the leader in Ghana’s Pension Industry with 28.5% of the market share and assets under management of over GH⊄1.6 billion.
Enterprise Group as part of its Corpora...
Enterprise Group as part of its Corporate Social Responsibility initiatives for the
Operation Smile is an international medical charity that has provided hundreds of thousands of free surgeries for children and young adults in developing countries who are born with cleft lip, cleft palate or other facial defects.
The donation was made when representatives of the Enterprise Group paid a visit to the Koforidua Regional Hospital on 9th
The surgery was supported by forty-nine volunteers from Ghana and others from ten different Nationalities. The volunteers comprised Medical Practitioners, Anesthetists, Nurses as well as other medical personnel assembled by Operation Smile to help put smiles on the faces of children suffering from the Cleft Palate defects.
Enterprise Group continues to deepen its commitment to giving an advantage to all through its Corporate Social Responsibility programs and initiatives. The donation falls in line with the Group’s Corporate Social Responsibility focus on Health and Education. The donation also reinforces, one of the group’s core value of “friendliness” as exhibited by the support and care offered to the children.
Mrs. Phyllis Woode-Nartey, AGM, Business Development, Communication and Sales (2nd right), Mrs. Ama Ansah, Group Head, Human Resource (3rd left), with some staff of Operation Smile and Enterprise Group.
Enterprise Trustees, the leading privat...
Enterprise Trustees, the leading private pension administrators in Ghana, has received three prestigious
The awards event held at the prestigious Movenpick Ambassador Hotel on 3rd November 2017 had all key stakeholders in the pensions industry present. Enterprise Trustees received the following awards:
The General Manager of Enterprise Trustees, Mr. Joseph Ampofo was crowned the Pensions CEO of the Year for his exceptional leadership and contribution to the pension industry.
In recognition of their exceptional corporate governance structures and transparency shown in the administration of their pensions schemes, Enterprise was awarded Pension Trustee Board of the Year The National Pensions Regulatory Authority at the event conferred on three corporate Trustees including Enterprise Trustees the award of most transparent Pensions Company of the Year.
Commenting on the awards, Mr. Joseph Ampofo reiterated the company’s dedication to customer excellence across all levels of the business, “These awards validate our position as the leading pension management company in Ghana. It shows the consistent growth we have witnessed as a company over the years. We remain committed to providing our clients with unparalleled services and ensuring their maximum comfort in retirement”.
Mr. Ampofo further dedicated the awards to the company’s clients, stakeholders, the Board of Trustees and staff for their contribution towards making Enterprise Trustees the pension company of choice.
Enterprise Trustees is the market
Enterprise Trustees Ltd, the leading private pension administration company in Ghana has held a consultative meeting with Stakeholders in the Mortgage Industry on pension-backed mortgages. The event which came on last Thursday in Accra was primarily to allow the National Pensions Regulatory Authority lead discussions aimed at interrogating the mortgage provisions in the Pensions Act with the ultimate aim of making pension-backed mortgage a reality for scheme members.
Mr. Fiifi Kwakye, the Board Chairman of Enterprise Trustees, welcoming invited guests indicated, “We are excited to once again lead an initiative that will ensure the reality of pension-backed mortgages for scheme members. This consultative session is to provide the National Pensions Regulatory Authority (NPRA) with the platform to engage closely with relevant stakeholders”.
The Chief Executive Officer of NPRA, Mr. Hayford Atta-Krufi underscored the importance of such a session which brought together Trustees, mortgage providers, real estate developers and employers. He assured workers they are committed to ensuring workers benefit fully from their pension contributions. Applauding Enterprise Trustees on the initiative, Mr. Ernest Amartey Vondee, the Director of Planning, Research,
The General Manager of Enterprise Trustees, Mr. Joseph Ampofo, closing the session thanked guests for their active participation and
Enterprise Trustees Limited is a subsidiary of Enterprise Group and ranked by NPRA as the leading private pension’s management company in Ghana. In addition to providing retirement solutions to Companies and Employers, Enterprise has a Personal Pension Scheme for individuals including self-employed individuals seeking to top-up their retirement savings. (Contact our call center on 0302634704 or email us at email@example.com
Enterprise Group, a leading insurance a...
Enterprise Group, a leading insurance and financial institution in Ghana has donated an amount of ¢75,000.00 to the “Save a kidney, save a life” foundation.
This philanthropic gesture was made to the administrative authorities of the Police Hospital, contributing towards the purchase of a Dialysis Machine for the hospital.
This is also a follow up to an earlier donation made by Enterprise Insurance, a subsidiary of the Enterprise Group to the hospital.
The General Manager and Group HR of the Enterprise Group, Amma Ansah, told the media after the presentation that “Research shows that the annual mortality rate per 100,000 people from chronic kidney disease in Ghana has increased by 10.6% since 1990, an average of 0.5% a year."
"For men, the deadliness of chronic kidney disease in Ghana peaks at age 80 and above. It kills men at the lowest rate at age 5 to 9. At 192.5 deaths per 100,000 men in 2013, the peak mortality rate for men was higher than that of women, which was 135 per 100,000 women.”
She added that “these bleak numbers are a call to action, and the Enterprise Group was overjoyed to have found a partner in The Police Hospital, to answer this call.”
Mrs. Ansah used the platform to remind Ghanaians that health is wealth. She surmised that there was more work to be done and more effort to be put in slowing down the rate of kidney related deaths in the country and she hoped that this small gesture made by The Enterprise Group would be a clarion call to all and sundry to offer their service to the health related needs of the nation.
On his part, The Chairman of the Board of Directors of the Police Hospital Dialysis Center, Mr. Godfred Nyanteh, was overjoyed by the gesture from the Enterprise Group and lauded corporate Ghana in responding to the clarion call of help.
“We all know the tagline of Enterprise to be ‘your advantage’, and indeed you have become the advantage to all who suffer from kidney related ailments,” he said.
He also commented that their offices will always have its doors open for further like-partnerships between Enterprise Group and the Police Hospital.
Enterprise Group is a giant in the insurance industry, with subsidiaries championing their individual industries. Its subsidiaries include Enterprise Insurance, Enterprise Life, Enterprise Trustees, Enterprise Properties and Transitions, a funeral services company.
Enterprise Group recently announced its partnership with Black Star Holdings Limited, a wholly owned subsidiary of Leapfrog Strategic African Investments (LSAI). LSAI is jointly owned by Leap Frog investments and Prudential Financial Inc. of America (PFI)
Enterprise Group Limited (Enterprise Group) has informed the Gha...
Enterprise Group Limited (Enterprise Group) has informed the Ghana Stock Exchange of an impending transaction to introduce a new strategic partner in place of Sanlam Emerging Markets Proprietary Limited of South Africa (Sanlam) in three of its subsidiary companies, namely Enterprise Life, Enterprise Insurance and Enterprise Trustees. Enterprise Group will retain its majority stake in each of these subsidiary companies.
The new strategic partner is Black Star Holdings Limited (BSHL), a wholly owned subsidiary of LeapFrog Strategic African Investments (LSAI). LSAI is a separate account managed by LeapFrog Investments and in which prudential Financial, Inc. is a primary investor. LeapFrog Investments have $ 1 billion in assets under management and a portfolio of companies across Africa and Asia focused on financial services and health.
BSHL will acquire Sanlam’s stake in the three subsidiary companies of Enterprise Group for US$ 130 million. BSHL has also committed funds to support Enterprise Group’s growth agenda over the coming years.
The transaction is subject to regulatory approvals and notifications in Ghana and South Africa.
Trevor Trefgarne, Board Chair of Enterprise Group says “This is an exciting transaction for Enterprise Group. With our new partner, LeapFrog Investments, we expect to be able to grasp growth opportunities both in Ghana and across the wider West Africa Region. Enterprise appreciates the long and productive association with Sanlam in Ghana over the past 12 years.
From Keli Gadzekpo, CEO of Enterprise Group: “We at Enterprise Group are delighted to welcome leapfrog investments into the Enterprise Family. They bring an incredible network of global insurance contacts and experience, and also the capacity to provide growth capital towards the realization of our very ambitious strategic objectives. We are pleased they have chosen to partner with us.”
Junior Ngulube, CEO of Sanlam says “In the 12 years of working with Enterprise Group, we have enjoyed a good partnership and a mutually beneficial relationship in Ghana. Considering our strategic partnerships with both Enterprise Group and Saham Finances, it was mutually agreed that Sanlam should exit from Enterprise Group. However we will look to re-establish and grow our presence in Ghana, starting with Saham Ghana as our partner going forward.”
Doug Lacey, who co-led the transaction with Norm Kelly on behalf of LSAI, observed that “Enterprise Group is a pioneer in delivering vital financial services to emerging consumers in Ghana. Its leading position in financial services, as well as dominance in insurance with over 28 percent of the market, is a testament to the quality of the financial services it provides.”
Norm Kelly of LeapFrog Investments commented that “Leapfrog Investments are extremely pleased to enter into this strategic relationship with Enterprise Group. Enterprise Group’s management team has built a robust platform for growth in West Africa. With our capital and expertise behind the business, we are confident that it will scale to provide millions more people with access to essential financial services.”
Enterprise Group Limited, a leading financial Group in Ghana has donated cash and insurance cover for the construction of the maternity...
Enterprise Group Limited, a leading financial Group in Ghana has donated cash and insurance cover for the construction of the maternity unit under the “Save a Child, Save a Mother” initiative of the First Lady. The donation breaks down into a cash amount of GHS 100,000.00 to the fund and insurance cover to the tune of GHS8.4m for the project itself.
The fund, which is an initiative of Her Excellency The First Lady, Mrs. Rebecca Akuffo Addo, seeks to provide relief to babies and mothers at the Komfo Anokye Teaching Hospital (KATH) by building an ultra-modern maternity wing at the hospital.
The insurance cover, which was donated by, the general insurance subsidiary of the Group, Enterprise Insurance, takes the form of a Contractors All Risks insurance policy and protects the building itself from material damage which may occur while under construction. Also the third parties that may be accidentally injured while on the premises during the construction period are also covered. According to Mr Keli Gadzekpo, CEO of Enterprise Group, this is The Company’s way of ensuring that nothing untoward would hold up the project. This information was made known during the presentation of the cheque to The First Lady by Mr. Keli Gadzekpo.
Mr. Gadzekpo congratulated the First Lady for taking up such a laudable cause, saying that Enterprise was moved by the plight of mothers and children at the Komfo Anokye Hospital, as revealed in the documentary produced by the Multi-media Group. The Company therefore felt compelled to help. He went on to say that this is not the first time Enterprise has reacted positively to a national cry, citing the example of Enterprise’s support to the victims of the June 3, 2015 twin disaster.
On her part, the First Lady expressed her appreciation of the support by Enterprise, “We all know the tagline of Enterprise to be ‘your advantage’, and indeed you are providing an advantage to these women and children and the nation as a whole” she said. First Lady, expressed her deepest gratitude to all who have donated already, stating that there would be more of such public spirited initiatives from her office and encouraged companies and individuals alike to come on board.
Subsidiaries of Enterprise Group Limited are industry leaders in their respective areas of specialization. The current subsidiaries of the Enterprise Group are Enterprise Insurance, Enterprise Life, Enterprise Trustees, Enterprise Properties and Enterprise Funeral Services which trades under the name Transitions.
Enterprise Trustees organized a three-day intensive training session at the Fiesta Royale Hotel from the 5th -7th April...
Enterprise Trustees organized a three-day intensive training session at the Fiesta Royale Hotel from the 5th -7th April, 2017 for selected staff and Scheme Board Members.
The training brought together 19 Scheme Board members, including member nominated Trustees, who serve on the 7 Master Trust schemes managed by Enterprise Trustees. The training was organized with the aim of equipping members with appropriate knowledge and understanding of pensions to enable them effectively and efficiently deliver on their role as Trustees. Enterprise Trustees by this training has also fulfilled the statutory requirement as stipulated in Section 7 of the Occupational and Personal Pension Schemes (General) Regulations, 2011.
The training was facilitated by African University College of Communication (AUCC) one of the accredited institutions approved by the National Pensions Regulatory Authority to offer Pension training
Areas covered included;
· Background to Pension Reform in Ghana
· Ghana’s Three-Tier Pensions Systems: The Law and Regulations
· Scheme Documentation
· Investment of Assets and Choice
· The Law Relating to Trust and Trustee’s Role
· Running a defined Contribution Scheme
· Ethical Considerations & Business Performance
Mr. Joseph Ampofo, the General Manager of Enterprise Trustees, at the end of the three day session thanked member nominated Board of Trustee members for diligently serving the scheme and stated without any equivocation that this training will go a long way to enhance the administration of the schemes.
Enterprise Group on the 13th of March, 2017 opened an ultra-modern service center in Kumasi, which seeks to enhance service ...
Enterprise Group on the 13th of March, 2017 opened an ultra-modern service center in Kumasi, which seeks to enhance service delivery to their numerous clientele in that region of Ghana. The Enterprise Market is an innovation of the Enterprise Group, and the only company in the insurance industry in Ghana to offer such an opportunity to its clients - a one stop shop service center for customers.
Speaking at the ceremony, the Chief Executive Officer of Enterprise Group, Mr. Keli Gadzekpo said this was a day he had been looking forward to for many years. “This is a realization of our dream of having a one-stop shop for the various lines of products and services within the subsidiaries of Enterprise Group. We are represented by various colors, but we are one big family.”
Mr. Gadzekpo further stated that the Market will allow existing and prospective customers the opportunity to sign on to products from other subsidiaries and have their customer service concerns addressed. He went on to stress the intent of the company to cater to the needs of their customers from when they are born throughout their lifetime, or ‘from cradle to grave’ as it’s referred to in the Enterprise fraternity.
The Chief Executive Office of the Enterprise Group reiterated the Group’s plans to open an “Enterprise Market in all the regional capitals of the country, which means that Ghanaians can excitedly look forward to 8 new Enterprise Markets in addition to the current Markets situated at the John Evans Atta- Mills High Street in Accra and Ahodwo in Kumasi.
Currently, the Enterprise Group comprises of Enterprise Insurance, which has been in existence for over 90 years; Enterprise Life, the leading life underwriter in Ghana; Enterprise Trustees, one of the leading pensions solutions company in Ghana; Enterprise Properties, the estate wing of the Group and Enterprise Funeral Services, which trades as Transitions and is also the newest addition to the Group.
Enterprise Trustees, the pension subsidiary of Enterprise Group ...
Enterprise Trustees, the pension subsidiary of Enterprise Group and leader of Ghana’s Pension Industry hosted a cross section of participating employers on its Pension Scheme to a cocktail on 25th January, 2017. This was to usher in the New Year and provide an opportunity for such participating employers to also explore B2B opportunities. In attendance were the member nominated Trustees (Employer Reps who sit on the Boards of Schemes) and Independent Trustees and from both Master Trust and Employer Sponsored Schemes administered by Enterprise Trustees.
Welcoming the invited guest the General Manager of Enterprise Trustees, Mr. Joseph Ampofo, affirmed the need to view the relationship as a partnership and thanked employers for entrusting their staff pensions to the company. To date, the company provides pension administration services for over 2,750 participating employers with a membership of about 280,000 at end of 2016. The consistent growth of the schemes assets through investment returns and contributions closed the year with over GH¢1B of assets under management re-affirming its Enterprise Trustees leadership in the Pension’s Industry. The General Manager used the occasion to announce the creation of a call centre as part of plans to increasing the service experience of members.
He entreated representatives present to make the number 0302- 634704 available to their members for prompt resolution of queries. He further sought the co-operation of employers on 2017 activities which included a project to validate existing member data. This he said “demonstrates our resolve and commitment to ensuring communication with members are enhanced”.
Speaking at the function the Enterprise Group Chief Operations Officer, Mr. C.C. Bruce revealed the addition of Enterprise Funeral Service to the Group. They will be trading under the name Transitions and will start full operations before the end of the quarter. The Rep of the National Pensions Regulatory Authority Mrs. Rita Adzovie applauded Enterprise Trustees on the positive role it continues to play in the industry. She also assured participating employers of the support to the Regulator in ensuring the right practices were followed by industry players to ensure security in their retirement income.
Following the changes in Senior Management made late last year, I am pleased to announce that Messrs. C.C. Bruce and Daniel Larbi-Tieku...
Following the changes in Senior Management made late last year, I am pleased to announce that Messrs. C.C. Bruce and Daniel Larbi-Tieku have been appointed as Directors of Enterprise
Group Limited with immediate effect.
Mr. Fiifi Kwakye who Chairs the Boards of Enterprise Life and Enterprise Trustees has also been
appointed to the Group Board with immediate effect. Mr. Emmanuel Idun will continue to provide strategic support to Senior Management on various Group projects as an Executive Consultant.
I am sure these appointments will further strengthen the overall quality of the Group's
operations as we enter the New Year.
On behalf of the entire Enterprise Family, I extend profound gratitude to Mr. Idun for his immense and invaluable work over the past six years. Together we say a big ayeeko to him. I also congratulate CC, Dan and Fiifi on their appointments and wish them every success going forward.
Enterprise Trustees Limited made its entry into the elite Ghana Club 100 on 26th August 2016. The Gha...
Enterprise Trustees Limited made its entry into the elite Ghana Club 100 on 26th August 2016. The Ghana Club 100 is an annual compilation of the top 100 companies in Ghana by the Ghana Investment Promotion Centre (GIPC) to give due recognition for achieving corporate excellence .The event which took place at the Kempinski Hotel was well attended with industry leaders in corporate Ghana present; including the President of the Republic, H.E John Dramani Mahama.
Enterprise Trustees Limited received operating license from National Pensions Regulatory Authority on 10th April 2012. Three years into its operations Enterprise Trustees Limited, the Pensions Subsidiary of the Enterprise Group Limited on the day was adjudged 100th in the elite league and the second fastest growing company in the league. This makes Enterprise Trustees the first and only Pension Corporate Trustee in this prestigious Club.
Management of Enterprise Trustees was excited about the acknowledgement and dedicated the award to its clients who trusted and supported them. The General Manager of Enterprise Trustees Limited, Joseph Ampofo added that “this testifies our commitment to being your trusted partner for pension services in Ghana”. He was full of praise for staff whose hard work contributed immensely to the feat and indicated “Enterprise Trustees is in for the long haul to ensure comfortable retirement for its members.”
Enterprise Trustees, with its rich experience derived from the partnership of two industry giants; Enterprise Group Limited of Ghana an...
Enterprise Trustees, with its rich experience derived from the partnership of two industry giants; Enterprise Group Limited of Ghana and Sanlam Financial Services Group of South Africa has over the years, maintained its key promise to create wealth for scheme members for their retirement.
Enterprise Trustees is one of the first Corporate Trustees to be licensed by the National Pensions Regulatory Authority following the promulgation of the National Pension Law 2008 Act 766. It received certificate to commence business on 9th November 2010 and received operating license from NPRA on 10th April 2012.
In these few years it has registered over 2700 employers with members in excess of 230,000 as at 31st December 2015.With the reforms in the pension industry, Enterprise Trustees has deployed dedicated Relationship Managers to provide education about changes in the industry.
To aid employers monitor and reconcile their contributions, provision has been made for an online portal for employers to access their corporate statement. Scheme members are not left out of this and can conveniently access their statement through the online portal, as well as via email or text message updates. Members also have the ability to update beneficiary details on the online portal. With such value added services and more, Trustees continues to be a trail blazer for the industry.
Our schemes are audited by renowned Ernst & Young, a highly rated audit firm to give members the desired assurance. The governance of our schemes are led by knowledgeable Trustees with representation from participating employers. The creation of an investment committee by the Trustee Board ensures prudent investment and monitoring of portfolio. We have carefully selected partners with experience in providing advisory services in Fund management and Custody services to help meet our fundamental aim of delivering to you a secured advantage in your retirement.
Benefitting from remarkable expertise from Enterprise Group and a solid partnership with Sanlam Financial Services, our clientele portfolio is distributed across 7 master trust and 20 employer sponsored schemes contributing to a total assets under management of Ghs649m as at 31st December 2015.
But that’s not all. To help you prepare adequately for retirement, we have added to our bouquet of services the Enterprise Personal Pension scheme. This scheme provides an opportunity to top up your retirement savings to guarantee adequate retirement income. To serve you more, we have established a regional presence in Greater Accra, Western, Ashanti and Northern region.
The dedicated team of Enterprise Trustees ably supported by the shared services team of the Enterprise Group is poised to provide you the advantage Ghana’s leader in retirement wealth creation provides.
Enterprise Trustees the leading private pension administration company in Ghana held a review session for all its service p...
Enterprise Trustees the leading private pension administration company in Ghana held a review session for all its service providers on their master trust schemes at the Tang Palace Hotel, Airport Residential Area. The meeting dubbed the “Power Breakfast” was under the theme “Outlook of the Ghanaian economy in 2016 and its likely impact on Pension Funds”. The meeting saw the gathering of leading pension industry experts i.e. Fund Managers, Custodians & the sole Auditor for all schemes E & Y .This gathering included the Scheme Board members under Enterprise Trustees master trust schemes.
Mr. Joseph Ampofo, the General Manager of Enterprise Trustees in his welcome address reiterated the need for Pensions Service providers to act with integrity and constantly strive to improve service to the schemes. He emphasized the point “ the growth of the assets are paramount to ensuring members live their retirement dreams and this must be done by taking prudent investment decisions today”. He challenged various industry leaders gathered to lead with conviction and steer the pensions industry to greater heights by demanding excellence from each other as well as fostering more collaboration to drive innovation. The General Manager revealed to date it had received into its custody accounts about Ghs54M from the NPRA being, Temporary Pension Fund from January 2010 to December 2013 for some of its clients. These funds have subsequently been invested. He informed the gathering that NPRA intends to transfer by June all outstanding TPF as such participating employers under Tier 2 should rest assured this is a process and would be completed shortly.
The Enterprise Group Chief Executive Officer, Mr Keli Gadzekpo reaffirmed the support the Group was giving to Enterprise Trustees in a bid to ensure clients under the pensions cluster received the best of services. One of the key Fund Managers under Enterprise Master Trust Schemes, Mr. Alex Asiedu of Stanlib Ghana Ltd led discussions on the 2016 economic outlook and its likely impact on the pension fund for 2016. 2016 being an election year which traditionally has seen governments overspend may be curtailed to some extent. This is because this time round the external watchdog IMF is keeping a close eye. Though inflation is expected to remain high the yield curve is expected to correct in 2016 as steps are taken to ensure fiscal consolidation. It is predictable the tight monetary policies currently in place will continue as government tries to manage the volatile currency situation exacerbated by an import driven economy.
Suggestions to direct pension funds into more long term investments which have lower yields is likely to impact on returns. According to Alex the pension industry would evolve and the basis of competition will shift to service delivery. There was also a delivery by Mr. Albert Amekugee, Head of the Ecobank Ghana Custody services enumerated the major role that Custody plays in the current Pensions regime. Representatives of participating employers who sit on the various Scheme Boards as Member-Nominated Trustees interrogated the issues raised to provide more clarity for 2016 business.
Enterprise Trustees Limited a subsidiary of the Enterprise Group and is the leading private pension’s management company in Ghana and operates 7 master Trust schemes and provides administration services for more than 20 employer sponsored schemes.
Enterprise Group has announced the appointment of Mrs. Jacqueline Benyi as Executive Director of Enterprise Life.
Enterprise Group has announced the appointment of Mrs. Jacqueline Benyi as Executive Director of Enterprise Life.
Mrs. Benyi takes over from Mr. C.C. Bruce (Jnr) who has been elevated to the position of the Chief Operations Officer of Enterprise Group. Jacqueline joined the Company at its inception in 2001 as a Sales Manager and became the Tema Branch Manager in 2002. She has risen through the ranks and held various positions including Head of Customer Services, Head of New Business, Assistant General Manager-Sales & Marketing and General Manager, Operations.
She holds a degree in Economics and Sociology from the University of Ghana. She is also a Chartered Insurer and Associate of the Chartered Insurance Institute, UK. Jacqueline further holds Advanced Diplomas in Life & Disability Underwriting and Life & Disability Claims from the Assurance Medical Society of London.
These qualifications make her the first Professional Life Underwriter and Claims Accessor in Ghana. In 2012 she obtained an EMBA in Finance from the University of Ghana Business School. She has also completed a Senior Management Development Program from the University of Stellenbosch and Executive Leadership Development Program at the Gordon Institute of Business Science, University of Pretoria.
Speaking to Mrs. Benyi, she reiterated her passion to continue upholding the outstanding feats and successes chalked up by her predecessor.
Mr. Keli Gadzekpo Chief Executive Office – Enterprise Group said “Jacqueline has demonstrated her capabilities in terms of technical knowledge and leadership qualities, and I have no doubt that she will build on Mr. C.C Bruce jnr’ s firm foundation.
These very important changes have been thoroughly considered and meet the full support and approval of the various boards and also our partners, Sanlam.”
According to Mr. Trevor Trefgarne -Chairman, Enterprise Group “It gives the Enterprise Group Board (EGL Board) great pleasure to see our Executives accept these opportunities and play greater roles in continuing the outstanding growth of Enterprise. We have very talented people, well able to deliver on the Group's great expectations.
Finally, Mr. Heinie Werth -CEO, Sanlam Emerging Markets said “I congratulate you and wish you all of the best in your new positions - well done! You deserve these promotions and new/added responsibilities. I have no doubt you will be extremely successful in your new positions from January onwards.
Enterprise Life from its inception in 2001 has maintained an above-market performance ending the third quarter of 2015 as the highest premium income earner in the Life insurance industry.
Enterprise Group Ltd. held its Fifth Annual General Meeting on Thursday 18th June 2015 at the Accra International Conference...
Enterprise Group Ltd. held its Fifth Annual General Meeting on Thursday 18th June 2015 at the Accra International Conference Center.
Despite the challenging business environment in 2014, Enterprise Group posted impressive results for the year ended 2014.
The Group posted a profit after tax of GH¢61.3m against the prior year’s GH¢39.7m representing a significant growth of 54.5% . Group Net revenues rose to GH¢288.4m as compared to GH¢230.9m in 2013. Net investment income was GH¢74.5m, representing a 25.8% of net income, and represented a growth of 9.6% versus prior year’s performance of GH¢68m.
Enterprise Insurance and Enterprise Life still represent the most significant subsidiaries in terms of financial performance. Both businesses continue to show great potential for growth, delivering growth rates of 14.9% and 26.84% respectively in the General and Life Insurance markets. Enterprise Trustees Ltd the Group’s pensions subsidiary reported profit after tax of of GH¢206K in 2014 as against a loss of GH¢2.14m in 2013.
Speaking to the media, Group CEO, Keli Gadzekpo assured all clients and shareholders that the Group and its subsidiaries were adapting to the demands of the changing business environments in their various markets. On the recent flood and fire disaster in Accra, he said “Enterprise will stand by its clients that have suffered losses because that is why we are in business, As Ghana’s leading and oldest insurer it is by supporting our clients that we have survived over 90 years. In the coming days Enterprise will make very significant contributions to the Korle-Bu Teaching Hospital as well as the 37 military hospital, as we look to touch lives in these trying times”
Mr. Gadzekpo assured both shareholders and clients that the Group and all its subsidiaries were strongly positioned for the future in every market we operate in.
H. E. Mrs. Margaret Clarke-Kwesie and Mr George Otoo were re-elected by the shareholders as Directors of the company at the Annual General Meeting.
Enterprise Group Limited has sold a 40% minority stake in its subsidiary Enterprise Insurance Company Limited, to Sanlam Emerging Marke...
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.
In a ceremony held at the Banquet Hall in Accra on 18th October 2014, Enterprise Insurance was crowned the Insurance C...
In a ceremony held at the Banquet Hall in Accra on 18th October 2014, Enterprise Insurance was crowned the Insurance Company of the Year 2013, by the Chartered Institute of Marketing, Ghana (CIMG). Enterprise Life was also awarded the Insurance Company of the year, Life.
We are in great company with Brands that we insure such as Unilever, Total, Interplast, Opportunity International, Fidelity Bank, Mechanical Lloyd, Yoks Investment all of whom also received awards.
Indeed, Birds of the same feather flock together!
Our hard work has been recognized, Our pushing the limits of our trade has been independently endorsed!
Congratulations to you our cherished clients and stakeholders. You made this happen by God’s Grace!
Enterprise Group Limited, on 6th August 2014, donated an amount of Ghc 14,039.02 to the Forensics Department of the Ghana Police Servic...
Enterprise Group Limited, on 6th August 2014, donated an amount of Ghc 14,039.02 to the Forensics Department of the Ghana Police Service.
The donation was in response to a request for assistance from the Forensics department with regard to training costs for some of its key personnel. In making the presentation, The Head of Business Development, Communications and Sales, Mrs Woode-Nartey stated that the donation was in recognition of the Department’s need for continuous skills upgrade to keep up with the increasingly sophisticated nature of crime. Mrs Amma Ansah, the General Manager for Human Resource Development for Enterprise Group explained that even though most of the company’s corporate social responsibility activities were in the areas of child education and health, the company had seen fit to make an exception in this case because of growing public concern about crime in general.
The Enterprise team made up of Mrs. Amma Ansah, Mrs. Phyllis Woode-Nartey, Osman Abudu, Head of Claims Department, Osman Tankari, Head of Forensic Department and Alex Baah Inkoom, HR Business Partner for Enterprise Life were taken on a tour of the department’s facilities by representatives from the Forensic Department, namely Chief Superintendent David A Adjem, Chief Inspector Richard Quarshie, Deputy Superintendent Godwin Lavoe, Deputy Superintendent Kofi Abban and Deputy Superintendent Mercy Agyapong. The Enterprise Team described the tour as “extremely fascinating and enlightening”.
Receiving the donation on behalf of the Forensics Department, The Director of the Forensic Laboratory, Chief Superintendent David A. Adjem expressed his deep gratitude to Enterprise and its subsidiaries and assured the company that the money would be used for the intended purpose. He called on all corporate bodies to emulate the example set by Enterprise.
George Otoo to Retire as Enterprise Group CEO
Keli Gadzekpo named as his successor
19 March 2014, Accra:
Enterprise Group (GSE: EGL) announces that Group Executive, George Otoo, will retire at the end of May 2014. He will be succeeded by Keli Gadzekpo who has served on the Board as a Non-Executive Director for 16 years. He is a co-founder and Chief Executive of the financial services firm, Databank from where he joins Enterprise.
George Otoo joined Enterprise in 1981, served for several years in various capacities and then was appointed Managing Director of the Company in 1999. His tenure at Enterprise has been characterized by rapid top line growth, bottom line profitability and diversification. Under his direction, Enterprise Insurance underwent extensive re-engineering and expansion.
Two years into his roles as MD, he oversaw the formation of Enterprise Life in conjunction with the IFC (division of the World Bank) and African Life (now Sanlam JSE: SLM). Enterprise Life is today the second largest life insurance company in Ghana and has been ranked number 1 in financial services for the last three years by the Ghana Investment Promotion Council (GIPC).
In 2010, Enterprise Group replaced Enterprise Insurance Company on the Ghana Stock Exchange in a reorganization led by George Otoo that created a new holding company structure. The new holding company and subsidiary structure provides the scope to pursue investments and expansion into new areas of profitable business.
Enterprise Group has since continued to diversify into adjacent areas, creating two other subsidiaries, Enterprise Trustees, a pension’s administrator and Enterprise Properties, a real estate developer.
Keli Gadzekpo takes on the mantle of CEO of Enterprise Group at a point in its 90 years history when it has the largest market capitalization of any insurance group in Ghana (GHS 306.8m). in September 2013, a report published by the Ghana Stock Exchange named Enterprise Group the top performing stock by value.
Commenting on the news of his retirement, George Otoo said, “it has been a privilege to have led Enterprise Group for the last 15 years, directing the business at such an exciting period in its development and in response to the opportunities that the market has presented. I look forward to continuing to put my knowledge of the sector to work as I step back from the day-to-day business of the company to take up my seat on the board, with the new mandate of a Non-Executive Director.”
Chairman of the Enterprise, Trevor Trefgame added, “The CEO succession process was rigorous, including domestic and international, internal and external candidates. After an extensive search, we are pleased to have found the best successor for George Otoo, in the person of Keli Gadzekpo, who, thanks to his long board tenure with Enterprise Group is able to provide seamless continuity for our strategy. Keli’s knowledge of business, sector experience and admirable track record will ensure that Enterprise Group is able to continue its commitment to excel I everything it does while renewing its determination to grasp business opportunities”.
About Enterprise Group
Enterprise Group (GSE: EGL) is a financial services company comprising five operating companies; Enterprise Insurance, Enterprise Life, Enterprise Trustees, Enterprise Properties and Enterprise Funeral Services. Enterprise Insurance is Ghana’s oldest insurance company founded 90 years ago. That company was restructured to 2010 to increase its scope for growth and the current Enterprise Group was listed on the Ghana Stock Exchange. Headquartered in Accra, Ghana, Enterprise Group also has operations in the Gambia.
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In our quest to offer excellent service to our clients and consolidate our position as the one-stop-shop for financial services, we hav...
In our quest to offer excellent service to our clients and consolidate our position as the one-stop-shop for financial services, we have reorganized and redefined our identity. Building on our success in the general and life insurance fields, we have branched out into Pensions Trustees and
Real Estate industries, and we are set to enter even more spheres of operation.With our roots entrenched in reliability and remarkable track record of excellent service delivery, we have a unique advantage in the services industry and it is this advantage we seek to share with all those who come into contact with us. Following the re-organization we shall no more be known as EIC, ELAC , EPL and ETL, we have become:
Enterprise Insurance (General Business Insurers)
Enterprise Life (Life Insurers)
Enterprise Trustees (Pensions Management)
Enterprise Properties (Real Estate Developers and Investments)
Enterprise Funeral Services [Funeral; burial and related services]
As a united force seeking to provide an advantage to your livelihoods, our Vision and Mission statements have evolved to reflect our time-honoured Values and will define us from today. Our new Vision, Mission and Values are thus:
Vision – "In all our markets, our pedigree will be recognized, our strength respected, our expertise valued and our solutions sought by ALL who desire an advantage in life". Mission - "We provide all who come into contact with us their desired advantage... because we are the best at what we do!" Values - Friendliness, Trust, Reliability, Excellence and Professionalism. Recently awarded Superbrand status, the personality of the Enterprise Group is the "Thoroughbred" The Thoroughbred is a breed of horse best known for its agility, speed and spirit. It is a horse of outstanding pedigree with an inherent disposition to be the best.
Akin to our Equus Caballus doppelganger, we are born of outstanding parentage, excellence is simply our nature. Our pedigree endows us with sheer power and muscle and it is that which drives us to deliver the quality service and solutions our stakeholders desire and have come to expect of Brand Enterprise.
Opposite Las Hotel, Hospital Road
P. O. Box 895
Tel: (+233) 501454475