Second annual insurance conference on next week

LEKOPANYE MOOKETSI
Correspondent | Friday September 9, 2011 00:00

 

Themed 'Economic Recovery: Diversification and Corporate Governance,' the topics of the conference include an overview of Botswana's economy and the performance of various sectors, with a special bias on the financial services sector.

Another topic will be the insurance industry's vision of Botswana's recovery from the recession and economic diversification, as well as the prevalence and impact of economic crimes on the financial services sector.

High profile speakers at the conference, which is sponsored by Botswana Life, include Vice-President, Mompati Merafhe,  the South African High Commissioner to Botswana, Lenin Shope and the Minister of Trade and Industry, Dorcas Makgato-Malesu. 

Among other presenters will be ICB vice president and Chief Executive Officer of Afrisure, Lydia Moate, Chief Operating Officer of the South African Insurance Crime Bureau, Hugo Van Zyl, Chief Executive Officer of the Non Banking Financial Institutions Regulatory Authority (NBFIRA), Oaitse Ramasedi, and the Head of University of Botswana's (UB) Department of Accounting and Finance, Dr Onkutlwile Otha.

Briefing journalists yesterday, Moate said the conference, which will be opened by the Assistant Minister of Finance and Development Planning, Gloria Somolokae, will start with an exhibition of the insurance and related industries. This would culminate with a cocktail dinner to mark the launch of the conference.

Delegates will have their deliberations on the day of the conference, followed by a gala dinner. Moate told the media that one of the significant events at the dinner would be the signing of the code of ethics for ICB.  Another significant event would be the handing over of certificates to members who joined the organisation after last year's conference.

ICB members who also addressed the press briefing included the Managing Director of Liberty Lulu Rasebotsa and the Managing Director of First Reinsurance Patience Marwiro.

ICB was formed last year as a voluntary organisation whose main purpose is to promote the interests and self-regulation of the Botswana insurance industry.

The objectives of the council include development of the local insurance industry as well as development and implementation of high ethical and professional standards for the insurance industry.

ICB is also aimed at constructively influencing the environment in which the insurance industry operates and facilitating continuous assessment and development of industry professionals.

The organisation is also charged with educating and protecting consumers as well as skills development of aspirant industry participants and employees of the industry.  ICB is also expected to be the voice of the insurance industry in the country. The affairs of the council are managed by a board of directors that has board committees for specific areas.  Board composition is representative of the sectors. 

The board committees include finance, ethics, professional conduct and discipline, legislation and regulation, consumer education and  protection.