ZB Financial Holdings (ZBFH) has announced that it will be expanding its operations to Botswana. The move has been necessitated by the need for the group to diversify its revenue sources as stated by the Group CEO Shepherd Fungura.
From a strategic point, ZBFH was motivated to establish in Botswana due to the need to grow in the region and diversify revenue streams. For the ZBFH group, this move is a stepping stone for identifying further growth opportunities in its key areas of specialisation; banking, insurance and investments not only in Botswana but the rest of the continent.Press Statement – ZB Financial Holdings
ZBFHs entry into Botswana is through a new addition to the group which is P & C Reinsurance. This company began its operations in Botswana in July of 2022 and on the 8th of November 2022 was launched as part of the ZBFH group. You can watch the live stream here
Let’s talk about P & C Reinsurance
P & C Reinsurance is a business offering short-term insurance services with an Africa-Wide scope of coverage. General Manager for P & C Reinsurance Mr. Boas Manzvera says the company has an underwriting capacity of upwards of 80 million Pula in reinsurance capacity.
He also went on to highlight other areas of insurance they will cover that a majority of insurance companies in developing countries do not prioritize.
- Political violence and terrorism insurance
- Specialty cover for Cyber Security
- Tourism packages cover
- Non-Commercial Aviation cover
ZBFH Press Statement
ZB Financial Holdings, ZBFH, is proud to announce the official launch of P&C Reinsurance (Pty) Ltd, a wholly-owned subsidiary of the Group. This move into Botswana is part of an intentional strategy to align with our vision of being a leading, globally acclaimed financial services firm of choice in Africa that delivers happiness to its customers, employees and other stake-holders.
It offers a full range of reinsurance products and services including Fire, Motor, Engineering, Liabilities, Crop and livestock insurance designed to meet the unique coverage and competitive capacities in the Facultative and Treaty business in the domestic and international markets.
ZBFH officially launched P&C on 8 November 2022 at an exclusive event in Gaborone, Botswana which was attended by all the major stakeholders in the market and graced by the Zimbabwean Ambassador to Botswana as well as key government leaders. The strategic focus into 2023 will be growing and expanding the business beyond Zimbabwe by increasing its footprint in the continent.ZBFH Press statement