19 Mar 2013

The president of the Botswana Association of Local Authorities (BALA), Rev Mpho Moruakgomo has announced that the Mmasepala wealth plan has been cancelled.

Mmasepala was the brain child of BALA together with Peo Boswa Insurance Brokers, a signatory of Metropolitan life Botswana to enable serving and former councillors to have a proper funeral and insurance covers.

Rev Moruakgomo told the on-going full council session of the Central District council on March 18, that part of the deal was that all 604 councillors country wide would subscribe so that the deal could be viable to the service provider but that never materialised hence the cancellation.

The subscription fee stood at P200, P170 of which was investment cover while P23 was for the funeral cover.

He further said most of the councils were paying their subscription fees to Metropolitan late, something he said the company cited as one of the reasons for cancelling the deal.

He lamented that though the idea was a response to councillors concerns that they do not have proper funeral and insurance covers, most of them showed lack of commitment as only 350 out of the 604 councillors subscribed.

He said the funeral cover will be reimbursed from July 2012 to date while the investment will come later as it involves a lot of paper work.

Most councillors showed discontent over the issue of being reimbursed their funeral subscriptions of twenty three pula from July 2012 to date, arguing that all the money should be paid back from the day they started subscribing with interest. ENDS