The Funeral Service Group (FSG) – previously a listed outfit – has grown to become one of the leading businesses in the Sub-Saharan Africa over the last 25 years. This is according to the co-founder of the business and group Managing Director Mike Milivoje Nikolic.
Nikolic, who started the company 25 years together with his wife, told the media this week that the company has grown in leaps and bounds and planted a legacy that will live forever. The company, which listed on the Botswana Stock Exchange (BSE) and later delisted a few years ago, will next week celebrate its silver jubilee.
This will be to celebrate two-and-half decades of operation in which the group did not only diversify its offerings, but also spread its footprints to other countries such as Zambia, South Africa and Zimbabwe.
“It was a hard road in the last 25 years but what we have achieved is admirable,” said Nikolic, adding that the celebrations will be a chance to say thank you to all the stakeholders. In Botswana, the company boasts of 20 branches and employs over 500 employees in these four countries.
The group has about five subsidiaries in Botswana, including FSG Manufacturing which focuses on the production of coffins and caskets, FSG Services, FSG Private Cemeteries, FSG Assurance, FSG Properties, FSG Enterprise and FSG Investments.
FSG also partnered with Botswana Life Insurance Limited in Botswana, Sanlam in Zambia, Zimnat Life Limited in Zimbabwe and African Unity Life Limited in South Africa.
The group, according to its MD, is actively looking at growing into other countries in the region and beyond. He says they believe that the continent has a bright future and will become an economic super power.
FSG was started in 1993 as a family business before evolving into a large business that it is today. This week at a press briefing, Nikolic stressed that the group will continue to be robust in its expansion plans. The group controls a 60 percent market share in Botswana.