emPLE Expands African Footprint with Strategic Acquisition of Metropolitan Ghana from Momentum Group

 

emPLE Group, the Insurance subsidiary of EverCorp Industries Limited, today announced the acquisition of 100% of Metropolitan Ghana from Momentum Group.

The transaction includes all three Metropolitan-branded entities in Ghana: Metropolitan Life Insurance Ghana Ltd (MLIG), Metropolitan Health Insurance Ghana Ltd (MHIG), and Metropolitan Pensions Trust Ghana Ltd (MPTG). Collectively, Metropolitan Ghana is a multi-award-winning leader in the Ghanaian insurance sector, offering life insurance, health insurance, pensions, and long-term savings solutions.

Metropolitan Ghana’s strong performance across life and health insurance, together with its robust pensions and savings business, provides a solid foundation for future growth. With insurance penetration in Ghana still below 1%, the market offers significant potential, particularly in the largely untapped informal sector, where increasing digitisation and mobile money adoption are expected to accelerate financial inclusion.

This transaction also marks a pivotal step in emPLE’s strategy to become a Pan-African insurance leader, combining its people-first, digital-driven model with Metropolitan Ghana’s strong market presence and local expertise. Customers will continue to access trusted services through existing Metropolitan Ghana channels while benefiting from emPLE’s commitment to innovation, operational excellence, and accessible protection solutions.

All employees are expected to be retained, and business will continue as usual under emPLE’s ownership and leadership. Operational updates, including the unveiling of the new company branding, will be announced subsequently.

Commenting on the transaction, Tsola Barrow the Chief Strategy Officer of EverCorp Industries said; “This acquisition marks a pivotal step in our vision to empower Africans with simple, accessible protection. We are excited to welcome Metropolitan Ghana to the emPLE family, combining our innovation-driven approach with their deep local expertise to deliver insurance that is inclusive, transparent, and built for the future.”

Dr. Rafique Daudi, Managing Director of Metropolitan Ghana, added: “Joining the emPLE family allows us to scale faster while preserving the local expertise and relationships our customers trust. Our operations remain the same, and customers will benefit from an improved experience, including enhanced digital tools and a wider range of insurance cover options.”

Kudakwashe Mudzengi, CEO Momentum Africa, also added; “Our exit from Ghana forms part of a longer-term review and phased realignment of our Africa portfolio and geographic footprint in the Southern African region”. Momentum Group’s decision to exit the Ghana market, also forms part of the group’s strategy to refocus on the Southern African region, India, and Europe.

The integration process will focus on maintaining service excellence while introducing new digital tools, expanding coverage options, and strengthening customer engagement. Customers will be kept informed at each stage of the transition so they know exactly what to expect and when.