Lulama Booi appointed new CEO of Momentum Metropolitan International

Momentum Metropolitan has recently announced new executive appointments with Ferdi van Heerden taking on the role of CEO of Momentum Investments and Lulama Booi stepping into the position of CEO of International. Booi shared insights into her new role during an interview on CNBC Africa, discussing the responsibilities she will be undertaking and the targets she aims to achieve. As the CEO of International, Booi will be overseeing the Africa portfolio, which includes operations in five countries, primarily in CEDEC. The countries under her purview are Namibia, Lesotho, Botswana, Ghana, Mozambique, and India. Additionally, she will be handling the group facilities portfolio locally.Booi highlighted the significance of the India business within the group, emphasizing its substantial growth over the years and the importance of meeting targets set for this key market. She also mentioned the ongoing restructuring of the Africa business, focusing on the CEDEC portfolio for continued growth and contribution to group earnings.Booi acknowledged the challenges posed by the current economic climate, citing stagnant growth in the insurance industry due to global and country-specific factors. Despite these obstacles, she expressed a commitment to expanding their market share and addressing social issues to support business growth.Booi also provided insights into the Indian market, where Momentum Metropolitan has seen significant growth and strategic partnerships in the health insurance sector. While India remains a key focus for future expansion, she clarified that China is not a target market due to differing strategic priorities.Booi's appointment as CEO of Momentum Metropolitan International signals a new chapter for the company as they navigate challenging market conditions and strive for sustained growth and success.