The First Sun Alliance (FSA) has unveiled new majority shareholders. This comes after Tiny Kgatlwane, Tebatso Lekalake, Keneilwe Mere, and Kgaotsang Mathews acquired a 51% stake of First Sun Alliance as from March 31, 2016. All the new shareholders are Batswana. When making the announcement on Tuesday morning FSA Managing Director Paul Chitate said this was a strategic move meant to grow the company’s regional footprint. “This is an exciting time for First Sun Alliance. We have entrusted the majority shareholders to take the company to even greater heights,” Chitate said. Chitate said the move was also intended at empowering locals as the four who hold the majority share are all Batswana. These four are not only Batswana but also women. This, according to the Managing Director, will help the company to advance the issues of women empowerment in Botswana. He said First Sun alliance will work more with women empowerment organisations in Botswana.
First Sun Alliance is the insurance broker for short-term, long-term, offshore investments, Fund & asserts management and risk management. Its main business is to manage risk and ensure that client’s investments and properties are secure and sustainable. The company was established in 1999. According to Chitate, they are now looking to grow their wings regionally. “We have put in place a strategic move which will take us into the future. We are looking at establishing a strong business that will spring out from Botswana into the rest of the region,” said Chitate. He said they have registered in South Africa and Zimbabwe while they are looking into the Namibian market.
One of the new shareholders Tiny Kgatlwane said she is happy to have the opportunity to be part of First Sun Alliance. Kgatlwane said the company is one of the few brokers if not the only one which is more than 50% citizen-owned. Kgatlwane, who is now First Sun Alliance’s executive director, said they are planning for bigger things for the future to establish the company as one of the best in the country. “We will be working to enhance the company’s image by improving the service delivery and customer satisfaction. It will be all about making the customers happy with the service that we offer to them,” said Kgatlwane. Chitate is adamant that the arrival of the new shareholders will take the company to new heights. He hailed the experienced brought in by the executive director Kgatlwane who brings with her a wealth of 30 years of experience in different sectors including insurance. She is the former CEO of Bifm, an asset management company owned by BIHL.