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BIHL finalises P250m exit of FSG

Tuesday, February 07, 2023 | 5990 Views |

Changing hands: FSG will now be majority owned by Africa Lighthouse Capital's unit

The country’s largest diversified financial services group, Botswana Insurance Holdings Limited (BIHL), has finalised the sale of its 37.6 percent stake in Funeral Services Group (FSG) to a unit of private equity firm, Africa Lighthouse Capital.

In an announcement to the Botswana Stock Exchange this afternoon, BIHL said all regulatory approvals for the deal had been granted and the P250 million paid as agreed.

FSG is a leading funeral services provider, with operations in Botswana, South Africa and Zambia. FSG manufactures and sells coffins and caskets, provides funeral-related services and also offers funeral insurance in partnership with Botswana Life, a wholly owned BIHL entity.

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