Vaka exits Bona Life as new crisis brews

Friday, January 17, 2020

Bona Life CEO, Regina Vaka last week dramatically quit the life insurer, as a shareholder stalemate over putting more funds into the business deepened, BusinessWeek has established.

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) had given Bona Life until August 31 last year to comply with its prudential rule on the Prescribed Capital Target (PCT).

The PCT states the minimum amount of assets that an insurer should hold in excess of its liabilities and for Bona Life, the regulator wanted assets one and a half times over its liabilities, as a way of protecting pensioners from adverse events.

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Vaka exits Bona Life as new crisis brews

Bona Life CEO, Regina Vaka last week dramatically quit the life insurer, as a shareholder stalemate over putting more funds into the business deepened, BusinessWeek has established.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply