…recommends it to Chinese firms
The President of the Ghana – China Chamber of Commerce and Chairman of the Ghana Association of Chinese Societies, Mr Tang Hong has praised SIC Insurance , one the largest and oldest general (non-life) insurance companies in Ghana for what he describes as the “superior quality of its insurance policy underwriting and consequent risk management products and services.”
Speaking on behalf of leading Chinese companies in Ghana who also use SIC for their insurance cover he asserted that the indigenously owned insurer has proved to provide better insurance cover than even its multinational counterparts, bringing its more extensive local knowledge to bear in this regard.
Mr Tang Hong, who is also the founder and executive chairman of the Caitec Group, one of the largest and most successful business conglomerates in Ghana, noted that SIC Insurance also holds extra appeal to Chinese companies operating in Ghana since it is state controlled (with state institutions collectively having majority shareholding), this being in line with established business culture among Chinese firms, who tend to use state owned and controlled business service providers because of the country’s socialist past and still ongoing state economic domination.
Consequently, Mr Tang Hong recommends that Chinese companies operating in Ghana, and those who are now seeking to enter the Ghanaian market, should use SIC Insurance to cover their business risks.
He explains that he is speaking not just from the experience of members of the Ghana-China Chamber of Commerce, which he presides over, but also more personally from his own experience in nurturing Caitec Group into the colossus it has become over the past two decades.
SIC Insurance has provided Caitec’s insurance cover and in doing so has played a pivotal role in the group’s expansion into seven companies in Ghana, engaged in general merchandising, hospitality, mining, manufacturing, real estate development and construction among others.
Mt Tang Hong has proved to be a most astute and discerning entrepreneur. In 1989, he completed his studies at the University of Electronic Science and Technology (then Chengdu Institute of Telecommunication Engineering), majoring in Industrial Engineering and Business Management. Incidentally, he is currently the chairman of the school’s Alumni Association in West Africa, a tribute to the high professional regard in which he is held by his academic peers.
Due to his academic prowess, before he even finished his studies at the school, a Towel manufacturing factory in Hefei, Anhui Province gave him employment and he worked there until 1992 when he joined the China Anhui Corporation for International Techno-Economic Cooperation.
In 1995, after gaining lots of experience and expertise in international business, he migrated to Ghana to establish his own business. He established Caitec Delta Limited as a general merchant company that same year and later added on several other sibling enterprises including Caitec Motors, Hai Hong Estates, Caitec Fishing Industries, and Tang Palace Hotel.
The Caitec Group of Cimpanies is now the main agent for Giti and GT Radial tyres for West Africa; as well as for JAC pick-ups; Zhengzhou Nissan (Dongfeng pickups); Sany Heavy Industry Group; Shanxi Automobile Group and Jiangling Group. The Caitec Group employs over 2,000 Ghanaians and 130 expatriates.
A dedicated philanthropist, Mr Tang Homg has over the years, through his Tang Hong Foundation, committed millions of cedis into charity work, in the water and sanitation, and the security sectors, and has made various donations to NGOs and governmental institutions.
