Golden Crescent Assurance Co. Ltd
Golden Crescent Assurance (GCA)is MeTL Group’s first venture into the country’s financial services sector. It is unique amongst Tanzania’s insurance business fraternity as it is the first fully Tanzanian private sector insurer in its shareholding and Board structure. The company, by way of some common directorships, has benefited from its affiliation to MeTL Group’s strong existing brand equity and its wide reach into over 30 regions of the country.
GCA is proud to have made substantial headway by gaining a significant market share and is making profits in just its third year of operation. It also boasts of the lowest expense to gross premium ratio in the Tanzanian market (source: Regulator’s Report, 2008).
We now provide micro insurance at the grassroots level and are path breakers in Tanzania in this field. Our micro insurance program has been developed and introduced in Tanzania with the support of our partners, MicroEnsure. MicroEnsure is the distribution wing of ILO’s previous Micro Insurance Agency and is funded by the Gates Foundation through ILO. MicroEnsure is part of Prosperity International.MeTL Group’s strong brand presence in even the remotest parts of the country has paved the way for a client base of over 35,000 people and growing.
At MeTL Group, we are constantly seeking new ventures and, in the financial sector, we are considering entry into the Banking Industry. We seek to focus primarily on developing the banking sector in the rural areas where only nine to 10% of the population has access to formal banking and only six percent to insurance (source: Financial Sector Deepening Trust - Finscope Survey, 2009).
There are numerous challenges to realizing this venture in these communities including a general lack of knowledge about banking services, price and economic barriers. However, we at MeTL Group believe that in order to gain maximum outreach, information dissemination is the key to success. Appropriately designed and reasonably priced products and packages that meet our potential clients’ needs will ensure that formal banking becomes an accessible service to the rural population of Tanzania.
Sifa Advisory Ltd
Sifa Advisory is a joint venture with MeTL Group established to provide integrated professional financial and investment advisory solutions. Sifa Advisory’s pioneering philosophy is to build the local investment banking market while providing our customers with value added solutions.
Sifa Advisory’s expertise lies in origination, structuring and placement of debt capital and other instruments such as private equity and shareholder equity, including mezzanine financing locally, regionally and internationally. With an experienced team of experts at its helm, Sifa Advisory follows a culture of adding value to clients, through sustained and focused commitment, to achieve defined objectives.
Sifa Advisory’s investment solutions are customized to the client’s financial and investment objectives. Sifa Advisory seeks to provide a range of investment products and services to private as well as institutional clients, both in the domestic as well as the international markets in the region.
Regional partnerships have been developed and nurtured through mutual synergies and it in line with our corporate objectives and investment philosophy. These linkages give us access to a network of experienced and successful organizations with world-class expertise.
A disciplined philosophy, with strong risk management anchored on a well-defined strategic and viable business model, with an emphasis on corporate governance, enables us to deliver sustained long-term results. These form the hallmark of MeTL Group’s strategic and corporate value proposition.
MeTL Capital Finance Ltd
MeTL Capital Finance currently sources finance for the MeTL Group. Established to support the Group’s business portfolio, MeTL Capital Finance aims to concentrate on sourcing capital for its trading activities in the coming years.