NBFIRA Closes Insurance, Medical Aid Firms

In three separate statements, NBIFRA said they had temporarily closed insurance company, Phoenix Botswana while two medical aid companies; Botsogo and Itekanele have also been provisionally shut.

“Members of the public are informed that Phoenix of Botswana Assurance Company has been placed under temporary closure in terms of Section 57 of the NBFIRA Act. Please be advised that as a condition of the closure Phoenix shall no longer take new clients or issue new insurance covers until further notice,” said NBFIRA.