15 May 2014

Botswana Insurance Fund Management (BIFM) so far boasts over P27 billion in investments.

Speaking at a cocktail that BIFM hosted for clients, the company’s chief executive manager, Ms Tiny Kgatlwane said it had so far funded its clients with over P600 million. She attributed such an achievement to  its customers, who had been supportive and patient with the corporation.

“Institutions in retail, banking and even state owned enterprises have benefited from BIFM and we will keep investing and helping our clients grow,” she said.

She indicated that since BIFM was set up in 1975, its objective being to support and empower Batswana in businesses that they undertake, it has stood true to the mandate.

“BIFM has grown over the years if you look at the institutions and individuals we are involved with today and we are driving Botswana’s economic development,” said Ms Kgatlwane. She said working through the Botswana Insurance Holdings Limited group gave BIFM  the advantage to do more.

“Education, poverty alleviation, health, sport and youth development can be achieved through the fund,” she said, adding that BIFM’s 38-year journey has been mind boggling and they have learnt a lot from the mistakes they have made in the past.

She said BIFM went through challenging times in 2013 due to unfavourable market conditions, but they managed to ride through the storm.

“Having taken over BIFM in 2010, results have been pleasing and I am confident that we will continue to grow,” she said.

Speaking on corporate governance, Ms Kgatlwane said BIFM is well governed and the fact that it belongs to a listed entity, the board would never allow bad corporate governance to prevail.

“BIFM is well monitored and there is no way the board would allow me and my team to damage a reputation built over the years,” she concluded. ENDS