World | Africa

December 16, 2013

Insurance: BAI Obtained a License to Operate in Botswana

British American Insurance [BAI Co. (Mtius) Ltd] is entering a new phase of its regional development. After investing in the region of East Africa, the BAI, now entering the southern region of Africa, especially in Botswana, Mauritius ranked second after the last index of Mo Ibrahim on governance in Africa.

The Botswana authorities have approved the license for the establishment of a life insurance branch of the BAI in the country. BAI also initiated a strategic partnership with Regina Vaka, one of the largest business women in Botswana.

"The BAI is ready to start its activities in life insurance in Botswana in early 2014. We are proud to be a partner of high-level financial services sector in Botswana investing in this ambitious project, "says Rishi Sookdawoor, CEO of BAI.

"I look forward to embarking on this new adventure and I consider it a privilege to work in partnership with a group that knows such rapid growth," said Regina Vaka at the signing ceremony of the joint venture. It should be noted that more than Rs 150 million will be injected by partners as seed money for this project. Regina Vaka was also named CEO of the new company and Sorens Rughooputh up part of the BAI has been designated as Principal Officer.

 

 

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