Vaka moves to calm Bramer clients

Addressing the media on Friday, Sikalesele-Vaka said that the developments in their parent company, BAI group in Mauritius, do not have a direct impact on the operations or the financial stability of Bramer Life. “Bramer life is an autonomous legal entity with its own local investments. I can assure you that all shareholder monies and policyholder funds invested in Bramer Life are held in Botswana Financial institutions and managed separately from investments in sister companies,” she said. Last week, the Bank Of Mauritius revoked the banking licence of Bramer Banking Corporation (BBCL) which is a sister company of BAI Co, the parent company of Bramer Life.

BBCL was found by authorities to be involved in a P6.7 billion Ponzi scheme scandal.