• This is, according to the MD, the government’s share of dividends earned by the company in the 2020 financial year
• GhanaRe said although it was a tough year, it was still able to meet its target
The Ghana Reinsurance Company Limited (GhanaRE) has presented a cheque of 10 million Ghana cedis to the government through the State Interest and Governance Authority (SIGA).
This amount is the government’s share of dividends earned in the 2020 financial year, a statement made available to GhanaWeb has said.
The Managing Director of GhanaRE, Mr. George Y. Mensah, and Ms. Akosua Baah Frimpong, the Company Secretary, presented the cheque to the Director-General of the State Interest Governance Authority, Stephen Asamoah Boateng, at his office on Thursday, July 8, 2021.
Speaking after the presentation, George Mensah expressed his gratitude for SIGA’s support over the years.
He also said the GhanaRE is one of the companies that have been consistent with paying their dividends over the past 20 years.
According to him, despite the challenges of the coronavirus on businesses in general, they worked hard to ensure that they could pay dividends to the government.
The Director-General of SIGA, Stephen Asamoah Boateng, on his part, expressed appreciation to the GhanaRE for its commitment to paying dividends to the government every year.
He said, “In these crucial times where countries are still struggling with COVID recovery efforts, Ghana’s inclusive government needs the support of all stakeholders and players in the economy to enable the country to recover from the effects of the pandemic.”
Established in 1972 as the Ghana Reinsurance Organization, it was incorporated as a Limited Liability Company on June 16, 1995, and has been in operation for over 40 years as a reinsurance service provider, living up to its promise of being a “reinsurer of choice” on the African continent.
In addition to its head office located in Accra, Ghana, the Company currently has two regional offices in Kenya and Cameroon.
GhanaRe is wholly owned by the Government of Ghana and governed by a Board of Directors appointed by the sole shareholder.
It is among the many State-Owned Enterprises (SOEs) whose operations and profitability are supervised by The State Interests and Governance Authority (SIGA).
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