Botswana Insurance Holdings Limited (BIHL) will continue to develop products that will place the group as the leading financial service provider in Botswana, group chairperson Batsho Dambe-Groth said on Tuesday at the company’s 40th anniversary celebrations at the GICC.
BIHL - the second company to list on the Botswana Stock Exchange (BSE) - will keep on offering a range of services and products that will surpass the gains made over the last four decades, she said.
Groth said the group has grown to see its subsidiaries becoming leaders in their respective fields –life insurance, asset management and legal expense insurance and are in the process of purchasing 25 percent stake from BIHL majority shareholder Sanlam of Nico Holdings, a financial company listed on the Malawian Stock Exchange.
BIHL subsidiaries include Botswana Life which is a leading player in the life insurance, Botswana Insurance Fund Management (BIFM) which manages funds worth over P20.6 billion and Legal Guard with around 86,000 clients.
The group has also established BIHL Trust which receives one percent of profits of each of the group’s subsidiaries to help uplift and support the citizens. She said to date the company has invested P12 million in communities across the country.
The company has participated in infrastructural development in the country and carried developments of properties such as Tapologo Estate, Airport Junction, Railpark Mall and SADC Headquarters.
Groth said BIHL has over the years come to symbolise strength and security and today the brand represents a company whose subsidiary companies are leaders in their respective fields despite the uncertain economic outlook and growing competition.
Groth said their greatest accomplishment is to become the first company in Botswana to produce a Corporate Citizenship and Sustainability Report as way of recognising that to be truly sustainable, the company takes account of three Ps- People, Planet and Profit.
She said this is to mean that the products and services that the company sells today will usually only be required by the clients in the distant future and what the company does today will affect its ability to deliver the future.
“We are always conscious of the long term impact of our decisions. Occasionally this means taking actions that might not be popular in the short term, but our responsibility is to look beyond,” said Groth.
When giving a keynote speech, Vice President Mokgweetsi Masisi said BIHL’s role in the development of the economy cannot be overlooked.
He noted that the vision of Botswana and the government is to have more responsible, well governed and ambitious members of the private sector to support and work with government to realise the country’s dream.