Full operations swing into gear at WestLife Insurance
Pauline Dikuelo | Friday July 11, 2025 12:27
The exit follows an extensive restructuring process and the implementation of a strengthened governance framework, aimed at enhancing the company’s long-term sustainability and accountability.
A key component of the recovery has been a substantial capital injection of P20 million from shareholders, which has significantly bolstered WestLife’s financial standing and operational stability.
An independent actuarial assessment conducted during the transition period confirmed the company’s improved solvency position, which was positively received by NBFIRA, ultimately supporting the decision to lift statutory control, officials said.
Commenting on the developments, WestLife CEO, Kgomotso Ratlhaga, said the company emerges from statutory oversight with a revitalised strategy and product suite designed to meet the evolving needs of the Botswana market.
These offerings include flexible life insurance plans, group life and disability cover, funeral policies, and critical illness products, all backed by enhanced customer service and operational efficiency.
“We are focused on regulatory alignment, risk discipline, legal integrity, and good governance. Our systems are robust, our leadership is prepared, and our focus is firmly on long-term sustainability and customer satisfaction,” she said.
During its time under statutory management, WestLife underwent comprehensive operational audits, compliance reviews, and internal control enhancements. Ratlhaga said the company has since adopted an enterprise wide risk management framework and implemented a rigorous regulatory regularisation plan, aligning closely with current industry requirements.
She said the company’s renewed focus is firmly grounded in regulatory compliance and governance excellence. Investments in internal systems and staff capacity have enabled WestLife to ensure alignment with legal standards and risk mitigation practices, both internally and in customer interactions.
“This process has equipped us with critical insights and capabilities,” Ratlhaga noted. “We’ve built a culture of compliance and continuous improvement that will be central to our operations going forward.”
Looking ahead, she said WestLife is entering the market with a sharper focus on consumer satisfaction and sustainable growth. With its solidified balance sheet, seasoned leadership, and renewed strategic direction, the company aims to re-establish itself as a trusted and innovative player in Botswana’s insurance sector, she said.