Vaka exits Bona Life as new crisis brews
Friday, January 17, 2020
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.
March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...