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
Gov’t, Balete should bury the hatchet

The acrimony that seemingly characterised the relationship between the Malete Land Board on behalf of the Botswana government and Kgosi Mosadi Seboko and the tribe, should now be water under the bridge as the tribe has finally gotten what it has been fighting for - the land.Kgosi Mosadi has articulated an instance upon which she was allegedly summoned to the State House by the Head of State, Mokgweetsi Masisi where the former claimed she was...

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