Continental Reinsurance opens Botswana regional office

21 Dec 2015
Chibuike Oguh

Summary

The move is part of a strategy to have a physical presence in all the key regions of the continent.

Femi Oyetunji, Group Managing Director / CEO, Continental Reinsurance

Continental Reinsurance, the pan-African reinsurance company, has established a fully-licensed subsidiary in Gaborone, the capital and largest city of Botswana.

According to a statement, the company said the move is part of a strategy to have a physical presence in all the key regions of the African continent.

“Gaborone is our springboard into the SADC (Southern African Development Community) region,” Lawrence Nazare, Continental Re’s Executive Director, said.

Botswana is one of the fastest-growing economies in Africa, boasting a high GDP per capita of $18,825 per year. The southern African country also has one of the highest ratings in Africa at A minus by US-based ratings agency, A.M. Best.

“Botswana’s political stability, robust economic and corporate governance culture, favourable macro-economic environment and auspicious relations with neighbouring countries make it a choice location for our southern African regional office,” said Samuel Rimai, the General Manager of Continental Re, Botswana.

Continental Reinsurance, the largest private reinsurance company outside South Africa, has operations in six regional hubs, Lagos (Nigeria), Doula (Cameroon), Abidjan (Cote d’Ivoire), Nairobi (Kenya), Tunis (Tunisia) and now Gaborone (Botswana).

Chibuike Oguh is Financial Nigeria's Frontier Markets Analyst


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