Continental Re ties BSE listing to Botswana’s ambitions
Laone Choeunyane | Monday October 12, 2026 06:00
Speaking at the group’s Evening of Appreciation in Gaborone last week, Group Managing Director Lawrence Nazare said the company’s decision to establish its holding company in Botswana reflected a commitment to deepen its roots in the country, where it has operated since 2014.
The event, attended by Vice President and Minister of Finance Ndaba Gaolathe, came as Continental Re’s public offer remained open to investors, following an extension of the closing date to October 9. The company is scheduled to list on the BSE on October 29, subject to the applicable listing requirements. If successful, it will become the first reinsurer listed on the local bourse.
The offer comprises P2.13 billion, including P409 million in new capital for the business and P1.72 billion from the sale of existing shares. The fresh capital is intended to strengthen the group’s balance sheet, expand its underwriting capacity, grow its Alternative Risk Solutions business and support investment in digital infrastructure.
For Botswana, the proposed listing offers an opportunity to attract a major regional financial services player to the capital market whilst potentially broadening investment options for local investors.
Continental Re, which began operations in Lagos, Nigeria, four decades ago, serves more than 900 insurance companies and brokers across over 50 African countries through six regional hubs. Its Botswana operation has grown from four employees to nearly 30, whilst more than 50 past and present Batswana employees have gained practical industry experience through the group.
Nazare said the decision to domicile the holding company in Botswana built on an established local presence rather than a new market entry. He pointed to the country’s institutional stability and regulatory environment as factors behind the choice.
He also highlighted the potential for Gaborone to develop as a regional reinsurance centre, allowing more risk assessment, underwriting, and financial expertise to be retained within African markets.
Reinsurance enables insurance companies to transfer part of their exposure to another insurer, helping them manage large or unexpected claims. Developing this capacity locally could strengthen the financial services value chain and create demand for specialised skills.
The company’s expansion plans also extend to human capital development. During the event, Continental Re announced a P200,000 contribution towards a literacy programme for young Batswana and a planned partnership between its CRe Academy and Botswana Accountancy College to provide specialised insurance and reinsurance training.
The academy trains more than 2,000 insurance and finance professionals annually across Africa, according to the group.
Gaolathe welcomed the commitments, saying the partnership would bring professional learning closer to practical industry experience. He linked skills development to Botswana’s wider economic transformation ambitions, which include diversification, employment creation, and the growth of export-oriented services.
Continental Re’s Botswana subsidiary is also under local leadership, following the appointment of Poneso Ndonje as managing director effective September 1, subject to regulatory approvals.