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    PRU   GB0007099541

PRUDENTIAL PLC

(PRU)
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Prudential Life Insurance Ghana Launches 'Pruride' 2021

11/26/2021 | 10:06am EST

Prudential Life Insurance Ghana, one of the leading life insurance companies in Ghana, has today officially launched the second edition of the annual urban cycling event code named PruRide 2021.

The cycling event is aimed at promoting a healthy lifestyle, highlighting cycling as a sport and as a way of promoting an active, healthy lifestyle and to raise funds for charity.

Emmanuel Mokobi, the Regional Chief Executive Officer for Prudential Western and Southern Africa reiterated Prudential's purpose to help people make the most out of life."

He said: "Impacting the communities in which we operate is key to us, we not only purpose to help people live a wealthier and healthier life but also work with partners that promote healthy lifestyles and cycling is undoubtedly a proven way for one to live a fit and active life."

Mokobi also added that the event was inspired by Prudential Ride London, the largest annual cycling festival in the world sponsored by Prudential Plc.

Prudential Life Insurance Ghana said this year's edition will be flagged off on Sunday, 5th December 2021 on the Ablekuma-Anyaa stretch.

It said the 99.7km route is slated to be used for the 2023 All African Games and was chosen in consultation with the Ghana Cycling Federation.

The company said interested cyclists, sports enthusiasts and the general public are invited to register via the Prudential Ghana website with a token of GHS 50.

It said Proceeds from ticket sales, donor and sponsorship contributions will go to the National Cardiothoracic Centre at the Korle Bu Teaching Hospital.

Prudential Life Insurance Ghana said the purpose of which is to perform corrective open heart surgery for children with congenital heart diseases whose families cannot afford the lifesaving surgery.

Tetteh Ayitevie, Chief Strategy Officer of Prudential Life Insurance Ghana, said: "Prudential has a history of supporting cycling events across the globe. We are excited to have worked with all our partners to help increase participation of cycling in Accra. This is the beginning of an annual event that promotes cycling and wellbeing, in addition to saving lives by supporting worthy causes."

The event is also supported by the Accra Metropolitan Assembly, the Ghana Police Service, Special Ice Mineral Water, Lou Moon Lodge and Fitrip Gym.

Mr Shabban Mohammed, Technical Director of the Ghana Cycling Federation, said: "We are excited when corporate institutions actively invest in the less popular sports. We recognise Prudential's consistency in promoting cycling and we are happy to be part of this year's edition."

In attendance at the launch were key officials of Prudential Life Insurance Ghana, the Cycling Federation and the winners for PruRide 2019.

The winners from last year's event, Frank Akuffo, for the professional race and Alexander Allotey, for the amateur race, were set to travel to the UK for the trip to Ride London 2020. Due to the pandemic, the event was postponed indefinitely and Prudential paid the cash equivalent to the winners.

Some of the partners for the cycling event include the Multimedia Group from whose frequency, 99.7FM, inspired the distance of the cycling route for the professional race, Ghana Cycling Federation and event organisers, Carbon AV.

Copyright Ghanaian Times. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2021 19 130 M 25 929 M 25 929 M
Net income 2021 1 199 M 1 626 M 1 626 M
Net Debt 2021 - - -
P/E ratio 2021 49,1x
Yield 2021 0,89%
Capitalization 35 665 M 48 359 M 48 340 M
Capi. / Sales 2021 1,86x
Capi. / Sales 2022 1,65x
Nbr of Employees 16 226
Free-Float 99,6%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 1 305,00 GBX
Average target price 1 694,12 GBX
Spread / Average Target 29,8%
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Michael Andrew Wells Group Chief Executive Officer & Executive Director
Mark Thomas FitzPatrick Group COO, CFO & Executive Director
Shriti Vinodkant Vadera Chairman
Stuart James Turner Executive Director & Chief Compliance Officer
Philip John Remnant Senior Independent Non-Executive Director
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