Absa Life seeks further market inroads

Absa Life, one of South Africa's leading long and short-term insurers, entered the Botswana market last year, grasping for a foothold in a market that had been dominated for decades by several well-established entities.

In its first year, Absa Life Botswana targeted "low hanging fruits," or "easier" market segments, launching the Kgomotso Funeral Plan last March after taking over Barclays Bank Botswana's insurance subsidiary. On Tuesday, Absa Life Botswana managing director, Bilkiss Moorad told BusinessWeek that the new kid on the block was ready for bigger targets, with a competitive product offering due to be unveiled in June.