The Botswana Insurance Fund Management (BIFM) says from humble beginnings, the company been able to grow from strength to strength boasting of over P27 billion worth of assets under management, emerging the biggest asset management company in Botswana.
Bifm Chief Executive Officer (CEO) said the increase of 25 percent is said to be from the last financial year. She pointed out that BIFM performance in 2013, was pleasing with the growth of the assets under management, the acquisition of new mandates and the improvement in their business operations from the companies within the Bifm Group.
Kgatlwane highlighted that the performance of Aflife Zambia, of which Bifm Holdings has a 49 percent stake, business continued to perform well in 2013, growing by 37 percent year on year and contributing 25 percent to the Bifm Holdings operating profit.
“Last year we appointed new Offshore managers, who outperformed the industry benchmark. Our history, as a local company with an international outlook, has given us the agility that is needed for a financial services company,” said Kgatlwane.
Bifm CEO is of the view that it is upon the firm base of support that their competitive position is maintained and upon which they have been able to spearhead further growth with an inherent belief that they will not settle for anything short of excellence. She added that it is a passion and a drive that pushes the team every day and in every activity.
Kgatlwane spoke of the Unit trusts which she said that they allow individual investors across all income brackets to invest in listed companies, share in the returns of the stock market, and ultimately to grow their wealth. She pointed out that it was in an effort to further ensure they anticipate consumers’ needs quickly, provide exceptional service and ensure their products add value to them.
“Within Bifm, and as a framework against which everything we do is structured and measured, governance is key,” she said.
She also pointed out that corporate governance has always been an integral part of their business and remains so today, adding that they are committed to the highest level of corporate governance. Bifm CEO said that as part of that, they have an unwavering dedication towards the implementation of effective structures, policies and practices that improve corporate governance and create sustainable value for all of their valued stakeholders.
“This includes actually evidencing business integrity and professionalism in all activities, and with a robust risk and compliance procedure which keeps us in line at all times,” said Kgatlwane.
The CEO noted that the company remains focused in contributing to the economic development of the nation. She added that it is evidenced by the fact that they have, in the past two years, funded entities with over P600 million in industries ranging from fast moving consumer goods, retail, micro-lending, banking to state owned enterprises. She said Bifm business has seen an incredible amount of growth and development over the years.
“All this growth would not have been possible without all of you, our valued clients and partners,” said Kgatlwane.