Low uptake of insurance in Botswana � Barclays

Tsayang told MmegiBusiness that insurance uptake locally is low hence the reason they had decided as a bank to sensitise the nation about it by having Insurance Wednesdays at various branches across the country.

“The uptake is very slow as most Batswana are still not insured, partly due to lack of education around insurance, which is one of the things we are addressing by having Insurance Wednesdays at various branches countrywide where focus is centred around insurance products offered by Barclays Life, particularly the newly launched Barclays Education Plan,” he said. According to Tsayang, insurance generates significant impact on the economy by mobilising domestic savings adding that it does not only guard against risks and uncertainties, but also provides a savings and investment channel too.