Mauritius’ life insurance major BAI strengthens presence in Africa
Bramer Life insurance opened in Gaborone, Botswana on Wednesday, June 18, 2014, and is expected to serve as a model as BAI expands its activities in other parts of the African continent (Image: Orange)
British American Insurance (BAI) Mauritius has taken a significant step towards achieving its target of earning 60% of its revenue from the African market this Wednesday June 18, 2014, with Bramer Life, a branch of BAI, opening a subsidiary in Gaborone, Botswana.
This follows a joint venture entered into in December 2013 for operating a subsidiary in Botswana.
The official launch was done by Dawood Rawat, Chairman Emeritus of the British American Group, in front of hundreds of economic operators and government officials, gathered at the Gaborone International Convention centre.
The event was also used as a platform to mark BAI’s presence in the financial landscape of Botwana.
“Our presence in Africa is not a new development. BAI has vast experience in the African market and we aspire for our office in Botswana to serve as model in order to expand our activities in the other parts of the African continent,” said Dawood Rawat
Leaning on Africa to develop new business opportunities to better position itself on the African continent is the objective of BAI, he noted.
“Bramer Life will enable us to widen our presence in Southern Africa,” said Rishi Sookdawoor, President and CEO, BAI.
“We also wish to open a Bramer Life office in Zambia before the end of the year, as well as in Namibia and Mozambique by next year,” he added.
Bramer Life Insurance will be headed by Regina Vaka, who was previously Chief Executive Officer at Botswana Life, supported by Sorens Rughooputh.
BAI is the leading life assurance provider in Mauritius and the region.
It started its operations in 1969 in Mauritius and continues in its path to serve Mauritians from all walks of life by continuously providing trust, peace of mind, wealth and rewards.
BAI differentiates itself by developing products whose characteristics provide a level of flexibility and variation that is unique on the market.
The company is continuously strengthening its Research & Development capabilities to create world-class products which will enable it to develop and grow its global presence in the future in line with its vision.
BAI already has a marked presence in Kenya and Malta through its affiliates, and is now looking forward to operations in Botswana, Zambia, Namibia and Mozambique as well.