Enterprise Group has reaffirmed its commitment to its Nigeria operations, expressing confidence in the long-term viability and profitability of its investment in the West African market.
Chief Executive Officer Daniel Larbi-Tieku, said the company’s decision into Nigeria was focused solely on the life insurance sector, a business model that Nigeria patience and a long-term view to yield results.
“Our investment in Nigeria is purely a life business, and if you understand life insurance, you’ll know it typically takes at least five years to mature and begin showing significant returns,” Mr. Larbi-Tieku explained.
“This is our third year of operating there, and we are much on course. The progress made so far reassures us that the investment is worthwhile, and we’re confident we’ll reach the destination we desire,” he added.
Enterprise Group entered the Nigerian market in 2021, betting on the country’s large population, growing middle class, and increasing demand for insurance products as key growth drivers.
According to Mr. Larbi-Tieku, early milestones achieved in the Nigerian market supported the group’s strategic decision, even though the business was still in its growth phase.
The Group’s expansion is part of a broader vision to become a dominant insurance and financial services provider across West Africa.
While acknowledging the complexities of operating in Nigeria’s regulatory and economic environment, Mr. Larbi-Tieku emphasized that Enterprise was taking a measured, long-term approach to ensure sustainable growth.
“We knew from the start that this journey required commitment and resilience. We’re building the right foundations, and we believe the fruits of our efforts will become evident with time,” he added.
The move into Nigeria forms part of Enterprise Group’s broader diversification strategy, which aims to reduce overreliance on the Ghanaian market while unlocking new revenue streams across the sub-region.
Mr. Larbi-Tieku said the company would continue to strengthen its operational systems, focus on technology, and improve customer experience to drive growth in both its home market and Nigeria.
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