1975 April

Legislation passed to establish a central bank with the framework to govern financial institutions that will fall under its supervision.


1975 August

Botswana Insurance Company formed as a 51% subsidiary of the Botswana Development Corporation.



Botswana Insurance Company sells its first life policy.



Botswana Insurance Company starts development of the country’s first major residential estate, Tapologo Estates, on behalf of its life and pension funds.



The Insurance Industry Act of Botswana is promulgated, regulating all aspects of insurance in Botswana and requiring separate legal entities for the underwriting of long and short-term insurance businesses.



  • Exchange control liberalised, permitting diversification of investments offshore. Botswana Insurance Company is restructured to separate its general insurance business and life insurance business. Botswana Insurance Holdings Limited (BIHL), which consists of Botswana Life Insurance Limited and Botswana General Insurance Limited, is the result.

  • BIHL lists on the Botswana Stock Exchange, shares are floated at P0.22 and the issue is 273% over subscribed. 25% of the BIHL equity is held by the general public comprising some 1,500 individual and corporate shareholders.



  • BIHL shares rise to P0.32 - a 46.5% increase on the listing price.

  • BIHL acquires control of IGI Botswana Holdings Limited, which is delisted and restructured into BIHL which continues to handle short-term and long-term insurance.



African Life acquires a major shareholding in BIHL from Southern Life and Botswana Development Corporation.



In conjunction with the Botswana Accountancy College, Botswana Life launches insurance courses at the college with the company’s initial funding of the project matched by government. Botswana Life also funds 15 of the first 25 students to register for the certificate course.



With the development of the Group’s local information and actuarial systems. BIHL becomes the first company in Botswana to report on the embedded value performance. This brings the Group in line with leading world accounting reporting. Botswana Life invests in Funeral Services Group to extend service to policy holders and their families at the time when they most need assistance. Bifm expands into Zambia.



Botswana Life introduces extended family funeral benefits and the option of automatic premium and benefit increases to counter inflation. Botswana Life launches Khumo 2016, which offers a savings benefit and the ability to select additional risk benefits as required. The product matures in 2016 to support the government’s plans to commemorate the country’s 50th anniversary.



Bifm unveils its new corporate identity and a definitive positioning statement, “Dynamic Wealth Management”.



The top management of BIHL and its subsidiaries is fully localised with Batswana. BIHL’s majority shareholder, African Life Assurance Company Limited, is acquired by Sanlam Limited. Established in 1918, Sanlam is a leading financial services group in South Africa, listed on the JSE Limited and on the Namibian Stock Exchange. In compliance with global corporate governance best practice, Bifm sold its remaining 25% shareholding in Glenrand Botswana to Glenrand M.I.B.



Botswana Life launched three new products - Mmoloki, Motlhokomedi and a Mortgage Protector Plan.



BIHL Board approves establishment of community development trust to address its Corporate Social Investment obligations.



Bifm’s first PPP project – the building housing the Office of the Ombudsman and the Lands Tribunal at the Main Mall, popularly known as Plot 21 – was handed over to the Ministry of Public Works on time and within budget.



A stone’s throw away from the New CBD in Phase 2 is a major landmark, which marks the pride of the Southern Africa – the new SADC Headquarters. The seven-storey building is the headquarters for the member states in the region. Bifm once more kept its promises by delivering this property on time and within budget. In this year BLIL also launched the Bancassurance distribution channel.



Ground breaking of yet another Property Project, Rail Park Mall in Gaborone, this time with Botswana Railways. In addition, construction of the Airport Junction Shopping Centre, also in Gaborone, commenced.

  • Appointment of Botswana Life CEO Catherine Lesetedi-Letegele and Bifm CEO Tiny Kgatlwane.

  • BIHL acquired Legal Guard from Letshego Holdings in order to expand into the short-term insurance arena.



Mr. Gaffar Hassam was appointed to the position of Group Chief Executive Officer effective on the 1st December 2011. Mr. Hassam has been a key part of the Executive team which crafted BIHL’s new strategic direction to be a broad based financial services provider. As part of this strategy, he has successfully facilitated the purchase and integration of Legal Guard into BIHL. For a brief period before his appointment Hassam executed the functions of Group CEO in an acting capacity.



BIHL refreshed Corporate Identity launched.

  • BLIL sponsored Afcon football.

  • Inaugural BIHL Thomas Tlou recipients get scholarships.

  • Bifm Capital sale completed.

  • BIHL SURE! by BIHL launched.



  • Botswana Life launched the LifeRewards prepaid card, with the aim of improving efficiencies and claim payments turnaround times

  • BIHL Trust completed the P2.1million Gamodubu Child Care Trust multi-purpose hall, making it the biggest single donation the Trust has made thus far

  • BIHL Sure! developed a Certificate of Proficiency (COP) Alternate Certificate course offered in-house as a BOTA and NBFIRA accredited legal expense insurance programme.



  • Botswana Life CEO, Catherine Lesetedi-Letegele earns recognition through the Sanlam Group Chief Executive Officer’s Eagle Award and as a finalist in the LIMRA under the category of Africa’s Most Influential Women in Business and Government for 2014

  • BIHL Trust concludes its sponsorship of Adopt-A-School Initiative with the adoption of eight libraries.



  • BIHL celebrate its 40th Anniversary with a big celebration graced by His Honour The Vice President of the Republic of Botswana, Mr. Mokgweetsi Masisi

  • BIHL culminated the year by giving back to 40 deserving CSR initiatives in celebration of 40 years of existence

  • BIHL Trust awarded 10 scholarship to young Batswana through the BIHL Trust Thomas Tlou Scholarship


Botswana Insurance Holdings Limited (BIHL) Group

acquires a 50% indirect stake in Botswana Insurance Company (BIC).

The transaction results in BIHL Group acquiring 50% of the shares in BIC through the purchase of shares in Teledimo (Pty) Ltd (BIC’s parent company). The equity acquisition by BIHL Group will allow

BIHL and BIC to leverage collective expertise and resources. This is on the back of BIHL Group’s 40-year

heritage of serving Batswana, and BIC’s reputation as an industry leader in its space, which also spans 40

years. The resultant benefit is enhanced services and development of increasingly competitive products to benefit customers.



Botswana Life launched its new life cover product, Poelo Whole of Life, aimed at benefiting members

with a lifetime cover, inclusive of a 120% premium payback after 15 years.

“We pride ourselves in staying ahead of the curve, and we do so by continuously meeting the needs

of our customers. It is in light of this, that we have tailored a product that is both affordable and

innovative, as well as covers members and their spouses for their entire lives,” former Botswana Life

CEO, stated. The Poelo Whole of Life is the first product of its kind in the Botswana insurance market. The unique product also extends the benefit of covering a spouse or partner and offers the choice to be covered in a strong currency such as the US Dollar. With Poelo Whole of Life, members can enjoy a premium payback and financial peace of mind knowing that they are covered for the rest of their lives.