SIC Insurance PLC Donates GH₵100,000 to Otumfuo Foundation
The Managing Director of SIC Insurance PLC, Mr James Agyenim-Boateng, has presented a donation of GH₵100,000 to support the Otumfuo Osei Tutu II Foundation (OTOTIIF).
The presentation was made during a courtesy call on the King of the Asante Kingdom, Otumfuo Osei Tutu II, at the Manhyia Palace on Friday, August 14, 2026.
According to Mr Agyenim-Boateng, the contribution is aimed at supporting the commendable social and humanitarian projects being undertaken by the Foundation across the country.
“We are all aware of the impactful initiatives driven by the Asantehene within Asanteman and beyond—particularly in education and healthcare—and we wanted to sow into this noble cause,” the Managing Director noted.
The visit also served as an opportunity for the Managing Director to introduce members of his newly constituted executive management team to the Asantehene.
The delegation included Mr Maxwell Kofi Marfo, Deputy Managing Director; Mr Kenneth V. Acolatse, General Manager in charge of Finance and Administration; and Mrs Cynthia Kwarteng Tufuor, General Manager in charge of Technical Operations.
“We come to seek the blessings and counsel of the Asantehene to guide us as we drive progress in our business, especially as the insurance landscape has become increasingly competitive,” Mr Agyenim-Boateng stated, while expressing deep gratitude to His Majesty for his long-standing support for the company.
Welcoming the executive team, Otumfuo Osei Tutu II acknowledged the growing competitiveness of Ghana’s insurance industry and urged the state-backed insurer to leverage public sensitisation to expand its market footprint.
“SIC previously held a dominant position as the primary insurer, but today many private companies have entered the space. You can regain a strong, comfortable lead if you intensify public education. Many people still do not insure their buildings, vehicles, or small businesses. There is immense potential out there, and sensitising the public will earn their trust and business,” the King advised.
He encouraged the leadership to take insurance products directly to the informal sector: “Go to the market traders and the artisans in their workshops. They will not walk into your corporate offices, so you must reach out to them.”
Furthermore, His Majesty counselled the company to design innovative and flexible insurance products that align with modern financial needs.
“In advanced economies, people utilise specialised covers such as Endowment Policies to secure mortgages and acquire residential properties. SIC must innovate to meet these evolving needs,” Otumfuo added.
Story by Hajara Fuseini
Click to read more: https://opemsuo.com/author/hajara-fuseini/
