Botswana Insurance Holdings Limited, the titanic insurance┬á and┬á fund administration┬á outfit, has been hit by another┬á resignation at the top level, bringing the total number of people who have left since Regina Sikalesele- Vaka to seven.
Impeccable sources┬á told┬áThe Telegraph head of Communication for the Group, Sipho Showa, has decided to jump ship because of poor working relations.
However, BIHL‘s head of Human Resources, Elias┬áMagosi, flatly denied the reports on Monday, saying, “I am not aware of that.”
Sources said he was engaging in┬ásome “diplomatic coating” and they pointed out that Showa will be leaving next month.
Earlier this year, former Chief Executive Officer of BIHL, Regina┬á Sikalesele- Vaka, blasted Sanlam’s conduct at her farewell speech.
She accused┬á Sanlam of sucking out the money┬á from the company through outrageous dividend policies and trying to weaken Botswana operation by transferring some of the key operations to South Africa.
She was┬áfollowed by┬áSimon┬áIpe, Chief of Special Projects, Victor Senye, ex- head of Bifm, Seagiso Ramatshaba, former Chief Financial Officer at Bifm, Kenneth┬á Bogatsu, ex- Financial Manager at Botswana Life, Tutu Lenong, former Marketing┬á and Communication manager at Botswana Life.┬á All of them left in the last five months but Senye has since been retained as a consultant.
Despite the denials made by BIHL management┬á about Showa’s resignation,┬á sources said┬ámost of the top management┬á are frustrated and feel that┬á the┬á company┬á is trying to push them out.
The Botswana Stock Exchange-quoted┬á company ┬áhas assets under its┬á management ┬ávalued at ┬á┬áP 19 billion and ┬áis┬á 53 percent owned by South African┬á Asset Management┬á company, Sanlam.
BIHL is the biggest contributor to Salam balance-sheet and has over the years built surplus cash that currently stands at P 1 billion.
Though Vaka’s speech shocked most of the people, it got a lot of support from most of the top management at BIHL and its subsidiaries. She was applauded for being brave at a time when the company was losing a lot of people at top management due to frustration.