Enterprise Insurance Ltd. and the Mobile Money Advocacy Group Ghana (MoMAG) have renewed their Memorandum of Understanding (MOU), reaffirming a strategic partnership aimed at expanding insurance access and strengthening financial inclusion across the country.
The renewal ceremony, held on Wednesday, February 11, 2026, in Accra, brought together executives of both institutions and members of the media.
Delivering the welcome address, Assistant General Manager for Informal and SME Market Segments at Enterprise Insurance, Paul Ampadu-Yeboah, described the renewal as a testament to the impact of the initial agreement.
“Our partnership with MoMAG has already proven its relevance and impact,” he said, noting that under the first MOU, MoMAG members benefited from personal accident insurance while earning additional income through the distribution of Enterprise products. “This demonstrated that when we collaborate intentionally, both institutions and members benefit.”
He added that the renewed agreement reflects a “shared commitment to growth, innovation, and inclusion,” explaining that expanding the number of MoMAG agents serving as distribution partners advances Enterprise’s “distribution disruption agenda” and improves access to insurance nationwide.
President of MoMAG, Edward Ofori Agyemang, expressed gratitude to Enterprise Insurance for backing the association from its formative years.
“In those early days, many institutions were hesitant to stand with us, but Enterprise chose vision over volume,” he said. Recalling a remark by the Managing Director, he quoted: “Great companies don’t wait for big numbers. They invest in big potential.”
Mr. Agyemang noted that since the partnership began in June 2023, MoMAG agents have been empowered to sell Enterprise products across the country, expanding insurance penetration while diversifying members’ income streams. “We are going to expand this opportunity to all MoMAG members within the country,” he announced, pledging the association’s readiness to actively promote Enterprise Insurance products nationwide.
Managing Director of Enterprise Insurance, Mrs. Akosua Ansah-Antwi, underscored the critical role mobile money agents play in Ghana’s economy.
“You continue to remain at the front line of financial inclusion. You are facilitating millions of transactions daily,” she said. “It makes me wonder… how the economy can survive today without you guys.”
She stressed that beyond leveraging MoMAG’s network to reach underserved markets, Enterprise is equally committed to protecting the agents themselves through a dedicated MoMAG insurance package covering risks such as fire, flood and burglary.
“This MoMAG insurance was actually designed for you… It’s a dedicated insurance solution which is designed to protect all your members against risk that could potentially disrupt your business and your livelihoods,” she explained.
Mrs. Ansah-Antwi concluded by reaffirming Enterprise’s commitment to deepening the collaboration to “create value for all who truly seek an advantage in life and business.”
The renewed MOU is expected to expand insurance coverage, enhance agent capacity, and support efforts toward a more inclusive and resilient financial ecosystem in the country.
