ZB launches insurance unit in Botswana


The Chronicle

Sikhulekelani Moyo, business journalist

LISTED financial services provider, ZB Financial Holdings (ZBFH), has announced the official launch of its insurance subsidiary, P&C Reinsurance Limited in neighboring Botswana as part of an intentional and deliberate strategy to increase its presence in Africa.

In a statement, the Group’s Managing Director, Mr. Shepherd Fungura, said ZBFH was motivated to establish its subsidiary in Botswana due to the need to expand in the region and diversify sources of income.

In doing so, he said the company took note of Botswana’s desire to increase animal and crop production in its agricultural initiatives and promised to complement with appropriate insurance products for protection against insurable risks.

Mr. Fungura said that for the ZBFH Group, this decision is a springboard to identify new growth opportunities in its core areas of specialization, banking, insurance and investments, not only in Botswana but across the rest of the continent. .

ZB FINANCIAL Holdings

“ZBFH, is proud to announce the official launch of P&C Reinsurance (Pty) Ltd, a wholly owned subsidiary of the group,” he said.

“ZBFH officially launched P&C on November 8, 2022 at an exclusive event in Gaborone, Botswana attended by all major market players and honored by the Zimbabwean Ambassador to Botswana as well as key government leaders.

“This move of ZBFH to Botswana is part of an intentional and deliberate strategy that aligns with our vision to be a premier and globally recognized financial services company in Africa that delivers happiness to its customers, employees and other stakeholders.”

Mr. Fungura said P&C Reinsurance Company commenced operations in July 2022 and provides short-term reinsurance business in Botswana and the rest of Africa.

“P&C Reinsurance offers a full suite of reinsurance products and services, including fire, auto, engineering, liability, crop and livestock insurance, designed to meet the unique coverage and competitive capabilities of facultative and conventional businesses in national markets. and international,” he said. .

“The subsidiary will aggressively pursue digitization as part of the ongoing ‘One Digital ZB’ transformation journey.”

The company is confident that this strategy will ensure that its operations are not limited by physical location while delivering excellent personalized customer service, in line with the brand’s promise to deliver happiness and the culture of customer centricity. .

To this end, ZB said that the P&C Reinsurance Office is made up of a dynamic, young and professionally qualified team of experts, ably led by the Managing Director, Mr. Boas Manzvera.

The team includes experienced and well-exposed local insurers, namely Gofaone Letshwao, Tefo Seakgosing and Matlhogonolo Legae, with a combined experience of over 30 years covering technical reinsurance, retail insurance, accounting and finance.

Commenting, Boas was quoted as saying: “I am delighted with the impact P&C is already having in the market as we have been successful in underwriting some business and we are on target in terms of numbers.

“The team I work with is dynamic, knows the market well and has the required professional experience and qualifications,” he said.

“We will be guided by our value of excellence in the delivery of our services, which will include effective turnaround of all of our operations. Teamwork will also set us apart as we seek to work hard every day to create happy people. I believe in the ZBFH Group mantra of “Winning Together as a Digital ZB”.

ZBFH is pursuing an aggressive digital transformation program which has resulted in a massive rebranding and digitization of processes and procedures, including mobile and internet banking, WhatsApp banking, digital account services and loan applications , the entity focusing on a customer-centric culture. — @SikhulekelaniM1

Previous FLP and Unity are now ready to pay – FBC News
Next Gamma Oryzanol Market Key Actions, Challenges and Opportunities for Stakeholders to 2031