The women leading Hollard Botswana
The HOLLARD Botswana Leadership team of Jane Tselayakgosi and Lydia Andries epitomise both the shift happening in the Botswana insurance industry and the growth of business opportunities in the country.
As dynamic businesswomen, they have embraced the challenge of building a company that is completely Botswana-powered in a market dominated by subsidiaries of South African insurance companies. As mothers, they know the hardships and sacrifices that come with creating a work-home balance.
Established in May 2005 with an initial capital of P10 million, Hollard Insurance Botswana is powered solely by Botswana experts in personal and business insurance. This strong local knowledge allows Hollard to develop insurance solutions that are Botswana-specific.
Tselayakgosi developed an interest in the insurance sector during an internship in her university holidays. In those days, insurance was not an environment that was a popular career choice among graduates, with banking, auditing and accounting representing more obvious choices for B.Comm graduates. However, Jane’s intern experience piqued her interest sufficiently to encourage her to pursue "something different".
She originally joined a short-term insurance company In Botswana and, in progressing through the ranks, learnt about Hollard "by accident" when it was considering purchasing her employer.
"I was fascinated by the fact that this was one of the largest companies in South Africa and yet it was privately owned. I liked their track record and their way of doing business and was intrigued by their culture, because local insurance companies were traditionally corporate and rigid – and I was at a point in my life when I was looking to move away from accounting and engage in something completely new," she says.
Hence, when Hollard failed in their bid to purchase her employer while retaining an interest in establishing an operation in Botswana, Tselayakgosi's dream to lead a business became a real opportunity. She quit her job in December 2004 and began the process of applying for a license and establishing Hollard Insurance Botswana.
Born and educated in Botswana, Tselayakgosi is a Fellow of the Association of Chartered Certified Accountants of the UK. She began her insurance career in 1990 of Botswana Insurance Company. She moved through the rank to general manager finance until leaving in 2004 to found Hollard Botswana as MD.
She describes her role at Hollard as being both operational and strategic, with her responsibilities extending to the daily operational performance of the business, via a senior management team accountable for specific areas of the operation.
Lydia Andries has nearly 20 years’ experience in the financial services sector, having started her insurance career in an administrative role, before pursuing an actuarial degree. She grew up in the mining town of Jwaneng where she lived until moving to Gaborone to launch her financial services career. She then promptly relocated to the UK to study. In June this year, she joined Hollard Life Botswana specifically to create a strategy that could build and grow the business and ensure its sustainability.
"This means driving both innovation and growth, as well as ensuring disciplined execution in the delivery of results. In the next few years Hollard Life will be expanding its service reach without losing focus on revenue generation and profitability," Andries says.
Andries was attracted to the Hollard culture, one in which everyone was equal, but the boundaries were respected. It was an environment where individuals were free to share ideas irrespective of seniority, while at the same time providing a platform for personal growth.
Both women also have to juggle a family life and children. Andries has been married to Obusitswe Andries for 17 years and is mother to two sons and two daughters and Tselayakgosi is mother to a daughter and a son.
"My children inspire me to become a better person. Seeing their innocent faces smiling at me and admiring me is priceless – they motivate me to seek out the best life has to offer and pursue a rewarding career to build a strong foundation for their lives," Andries says.
Motivation is also a strong theme in Tselayakgosi’s life. “I am motivated by success in whatever goals I’ve set myself personally and professionally. Specifically, I am driven by challenging myself to learn and master new things – and in mentoring young people, particularly women. I can share my experiences and lessons with the hope this will help them avoid the mistakes we often make earlier in our careers and I love seeing people grow and achieve their goals," she says.
Comparing the insurance landscapes in South Africa and Botswana, both women agree that the Botswana environment is highly competitive, as is the case in South Africa. New entrants are streaming into the broker-driven market. As with South Africa, increasing regulation is also an issue –while the regulatory environment in Botswana is not as stringent as in South Africa and legislation is enacted at a slightly lesser pace, the trends are similar.
But the market also faces significant challenges specific to Botswana – low education levels regarding insurance and its low perceived value mean that penetration rates are not as high as they should be.
"Botswana has a very low insurance market penetration – estimated at just 2% for life insurance – and that statistic highlights the significant opportunities for future growth. Understanding how best to optimise the balance between opportunities and risks within the sector is a significant challenge executives face today," Andries says.
Andries also believes that insurance companies have traditionally controlled the market, but that the recent promotion of banks as a key sales channel offered fresh opportunities for companies to gain new footholds.
"In emerging economies like Botswana, bancassurance – a partnership that allows banks to sell insurance products – has become critically important for insurance companies. Other innovative channels are also taking hold; retail distribution channels have raised their share of insurance sales and insurers are also using affinity groups like utility companies to sell policies. This shifting insurance landscape is exciting, presenting significant growth opportunities especially for new market entrants like ourselves," she says.
Tselayakgosi’s vision is for Hollard to be placed amongst the top 3 insurance companies in the market and to continue being at the forefront in providing consumers with affordable and relevant insurance solutions. "I also want Hollard to have the best team and be the number one company that professionals want to work for," she says.
As a parting shot, Tselayakgosi mentions that when she initially joined the industry, it was one dominated by men, but today there is an equal gender split among people holding senior and leadership positions. This will come as no surprise to anyone who encounters Tselayakgosi and, Andries – it seems that when it comes to female power, Hollard has plugged into a very rich vein of talent.
HOLLARD INSURANCE
As South Africa's largest privately-owned insurance group, the Hollard Insurance Group includes the Hollard Insurance Company and Hollard Life Assurance Company. Established in 1980, the Group provides short-term and life insurance as well as investment products to a diverse customer base including individual consumers, commercial entities and corporate clients. It ranks among a growing number of companies advocating an inclusive growth model, measuring its social dividends aside its shareholder contributions.
Since inception, partnership has been at the heart of its business model, with the group today boasting over 100 ventures across the insurance value chain. Each one demonstrates the Hollard belief that there is always a better way.
Headquartered in the historic Villa Arcadia in Parktown, Johannesburg, the group embraces 6 million policy holders in 10 countries on four continents. Hollard employs almost 3000 people across the globe and posted R15.3bn in premium income in the year to June 2014.
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Nigerians, Zimbabweans apply for Chema Chema Fund
Fronting activities, where locals are used as a front for foreign-owned businesses, have been a long-standing issue in Botswana. These activities not only undermine the government’s efforts to promote local businesses but also deprive Batswana of opportunities for economic empowerment, officials say. The Ministry of Trade and Industry has warned of heavy penalties for those involved in fronting activities especially in relation to the latest popular government initiative dubbed Chema Chema.
According to the Ministry, the Industrial Development Act of 2019 clearly outlines the consequences of engaging in fronting activities. The fines of up to P50,000 for first-time offenders and P20,000 plus a two-year jail term for repeat offenders send a strong message that the government is serious about cracking down on this illegal practice. These penalties are meant to deter individuals from participating in fronting activities and to protect the integrity of local industries.
“It is disheartening to hear reports of collaboration between foreigners and locals to exploit government initiatives such as the Chema Chema Fund. This fund, administered by CEDA and LEA, is meant to support informal traders and low-income earners in Botswana. However, when fronting activities come into play, the intended beneficiaries are sidelined, and the funds are misused for personal gain.” It has been discovered that foreign nationals predominantly of Zimbabwean and Nigerian origin use unsuspecting Batswana to attempt to access the Chema Chema Fund. It is understood that they approach these Batswana under the guise of drafting business plans for them or simply coming up with ‘bankable business ideas that qualify for Chema Chema.’
Observers say the Chema Chema Fund has the potential to uplift the lives of many Batswana who are struggling to make ends meet. They argue that it is crucial that these funds are used for their intended purpose and not siphoned off through illegal activities such as fronting. The Ministry says the warning it issued serves as a reminder to all stakeholders involved in the administration of these funds to ensure transparency and accountability in their disbursement.
One local commentator said it is important to highlight the impact of fronting activities on the local economy and the livelihoods of Batswana. He said by using locals as a front for foreign-owned businesses, opportunities for local entrepreneurs are stifled, and the economic empowerment of Batswana is hindered. The Ministry’s warning of heavy penalties is a call to action for all stakeholders to work together to eliminate fronting activities and promote a level playing field for local businesses.
Meanwhile, the Ministry of Trade and Industry’s warning of heavy penalties for fronting activities is a necessary step to protect the integrity of local industries and promote economic empowerment for Batswana. “It is imperative that all stakeholders comply with regulations and work towards a transparent and accountable business environment. By upholding the law and cracking down on illegal activities, we can ensure a fair and prosperous future for all Batswana.”
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Merck Foundation and African First Ladies mark World Health Day 2024
Merck Foundation, the philanthropic arm of Merck KGaA Germany marks “World Health Day” 2024 together with Africa’s First Ladies who are also Ambassadors of MerckFoundation “More Than a Mother” Campaign through their Scholarship and Capacity Building Program. Senator, Dr. Rasha Kelej, CEO of Merck Foundation emphasized, “At Merck Foundation, we mark World Health Day every single day of the year over the past 12 years, by building healthcare capacity and transforming patient care across Africa, Asia and beyond.
I am proud to share that Merck Foundation has provided over 1740 scholarships to aspiring young doctors from 52 countries, in 44 critical and underserved medical specialties such as Oncology, Diabetes, Preventative Cardiovascular Medicine, Endocrinology, Sexual and Reproductive Medicine, Acute Medicine, Respiratory Medicine, Embryology & Fertility specialty, Gastroenterology, Dermatology, Psychiatry, Emergency and Resuscitation Medicine, Critical Care, Pediatric Emergency Medicine, Neonatal Medicine, Advanced Surgical Practice, Pain Management, General Surgery, Clinical Microbiology and infectious diseases, Internal Medicine, Trauma & Orthopedics, Neurosurgery, Neurology, Cardiology, Stroke Medicine, Care of the Older Person, Family Medicine, Pediatrics and Child Health, Obesity & Weight Management, Women’s Health, Biotechnology in ART and many more”.
As per the available data, Africa has only 34.6% of the required doctors, nurses, and midwives. It is projected that by 2030, Africa would need additional 6.1 million doctors, nurses, and midwives*. “For Example, before the start of the Merck Foundation programs in 2012; there was not a single Oncologist, Fertility or Reproductive care specialists, Diabetologist, Respiratory or ICU specialist in many countries such as The Gambia, Liberia, Sierra Leone, Central African Republic, Guinea, Burundi, Niger, Chad, Ethiopia, Namibia among others. We are certainly creating historic legacy in Africa, and also beyond. Together with our partners like Africa’s First Ladies, Ministries of Health, Gender, Education and Communication, we are impacting the lives of people in the most disadvantaged communities in Africa and beyond.”, added Senator Dr. Kelej. Merck Foundation works closely with their Ambassadors, the African First Ladies and local partners such as; Ministries of Health, Education, Information & Communication, Gender, Academia, Research Institutions, Media and Art in building healthcare capacity and addressing health, social & economic challenges in developing countries and under-served communities. “I strongly believe that training healthcare providers and building professional healthcare capacity is the right strategy to improve access to equitable and quality at health care in Africa.
Therefore, I am happy to announce the Call for Applications for 2024 Scholarships for young doctors with special focus on female doctors for our online one-year diploma and two year master degree in 44 critical and underserved medical specialties, which includes both Online Diploma programs and On-Site Fellowship and clinical training programs. The applications are invited through the Office of our Ambassadors and long-term partners, The First Ladies of Africa and Ministry of Health of each country.” shared Dr . Kelej. “Our aim is to improve the overall health and wellbeing of people by building healthcare capacity across Africa, Asia and other developing countries. We are strongly committed to transforming patientcare landscape through our scholarships program”, concluded Senator Kelej.
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Interpol fugitive escapes from Botswana
John Isaak Ndovi, a Tanzanian national embroiled in controversy and pursued under a red notice by the International Criminal Police Organization (Interpol), has mysteriously vanished, bypassing a scheduled bail hearing at the Extension 2 Magistrate Court in Gaborone. Previously apprehended by Botswana law enforcement at the Tlokweng border post several months earlier, his escape has ignited serious concerns.
Accused of pilfering assets worth in excess of P1 million, an amount translating to roughly 30,000 Omani Riyals, Ndovi has become a figure of paramount interest, especially to the authorities in the Sultanate of Oman, nestled in the far reaches of Asia.
The unsettling news of his disappearance surfaced following his failure to present himself at the Extension 2 Magistrate Court the preceding week. Speculation abounds that Ndovi may have sought refuge in South Africa in a bid to elude capture, prompting a widespread mobilization of law enforcement agencies to ascertain his current location.
In an official communiqué, Detective Senior Assistant Police Commissioner Selebatso Mokgosi of Interpol Gaborone disclosed Ndovi’s apprehension last September at the Tlokweng border, a capture made possible through the vigilant issuance of the Interpol red notice.
At 36, Ndovi is implicated in a case of alleged home invasion in Oman. Despite the non-existence of an extradition treaty between Botswana and Oman, Nomsa Moatswi, the Director of the Directorate of Public Prosecution (DPP), emphasized that the lack of formal extradition agreements does not hinder her office’s ability to entertain extradition requests. She highlighted the adoption of international cooperation norms, advocating for collaboration through the lenses of international comity and reciprocity.
Moatswi disclosed the intensified effort by law enforcement to locate Ndovi following his no-show in court, and pointed to Botswana’s track record of extraditing two international fugitives from France and Zimbabwe in the previous year as evidence of the country’s relentless pursuit of legal integrity.
When probed about the potential implications of Ndovi’s case on Botswana’s forthcoming evaluation by the Financial Action Task Force (FATF), Moatswi reserved her speculations. She acknowledged the criticality of steering clear of blacklisting, suggesting that this singular case is unlikely to feature prominently in the FATF’s assessment criteria.