BIHL restrategises after Bifm blow


Botswana Insurance Holdings Limited (BIHL) is looking to diversify profit sources through new acquisitions in the financial services sector, following a 30 percent slash in assets under management at its subsidiary, Bifm.

According to market reports, Botswana Public Officers Pensions Fund (BPOPF) recently withdrew Bifm’s P9 billion mandate to manage funds, a decision that would result in substantial fee income losses for the subsidiary in 2015 going forward.

In a statement accompanying the diversified financial house’s results for the year ended December 2014, CEO Gaffer Hassam said Bifm, the group’s second biggest subsidiary, had commenced a realignment processes that would ensure that it was optimally structured for the decreased volume of operational activities.

Editor's Comment
Bravo, Matlala JSS for recognising employees!

Last Friday, Matlala Junior Secondary School (JSS) in Tlokweng did just that – they organised an event to honour their teachers and support staff. This gesture is truly commendable, as teachers occupy a pivotal role in the lives of our children.To be completely candid, teachers are the ones who shape our children from a very tender age, investing a significant amount of time in their growth and development. It's not uncommon to hear parents...

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