SIC Life Insurance to Venture into Housing Development

The management of SIC Life Insurance PLC has shared its plan to venture into housing development across Ghana with the King of the Asante Kingdom, Otumfuo Osei Tutu II.

The company intends to develop housing units nationwide, with discussions to commence the projects already underway.

This was disclosed to the Asantehene on May 8, 2026, during a courtesy call at the Manhyia Palace.

Managing Director Ing. Solomon Twum Barima Esq. said the initiative is aimed at protecting clients’ investments and helping to address Ghana’s housing deficit.

“We have begun deliberations on housing projects for the whole country. We intend to help solve the housing deficit in the country,” he said.

KNUST Hostel Project
He also announced plans to construct a 1,000-bed hostel at the Kwame Nkrumah University of Science and Technology (KNUST).

The project is expected to be completed within 15 months of commencement to accommodate students in the next academic year.

According to him, all architectural preparations have been completed, and his outfit is currently finalizing agreements with KNUST management to allow construction to proceed.

“We have met with the management of the school. We will soon finalize the agreement and start. We hope to complete it in 15 months to absorb students in the new academic year,” he said.

Stewardship Report
Reporting on his stewardship over the past months, he said all outstanding obligations to agents and other debts had been settled.

“We were here earlier to introduce ourselves to Otumfuo. I want to report that the work has progressed. We faced challenges such as outstanding obligations to agents, but those have been resolved,” he said.

He also noted improved staff satisfaction following the introduction of better measures and working conditions.

Donation
The company announced a donation of GH₵100,000 to support the Otumfuo Osei Tutu II Foundation (OOTIIF).

Commendation
The Asantehene commended the leadership and vision of Ing. Twum Barima Esq. for choosing to grow client investments.

“The account he just rendered indicates that he is doing well. We will support him with our prayers. Money cannot be kept idle. It must be invested to ensure revenue flow. The hostel and other projects are commendable ideas. Such visions are important to increase revenue,” Otumfuo said.

He also advised him to remain humble and accord his subordinates the respect due them.

The delegation included Kwaku Gyimah, Zonal Manager; Eric Boateng, Branch Manager – Bompata, Kumasi; Salamatu Bala, Branch Manager – Adum; Kwadwo Gyan, Sales Manager; and Gifty Gyasse Franklina, Adum Branch.

Story by Hajara Fuseini

Click to read more: https://opemsuo.com/author/hajara-fuseini/