Continental Reinsurance Launches Botswana's First Reinsurer Public Offer

Continental Reinsurance Holdings Limited is making history by launching Botswana's first reinsurer public offer on the Botswana Stock Exchange. The BWP409 million ($156.1 million) offer, which opened Aug. 5 and closes Sept. 16, aims to raise new capital for expansion and provide an exit for existing shareholders.

If successful, the listing on Oct. 5 will establish Continental Re Holdings as the first reinsurer to trade on the Botswana Stock Exchange. This move supports Botswana's economic strategy to deepen its capital markets under the Financial Services & Digitalisation pillar of its Economic Transformation Programme.

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For over 40 years, Continental Reinsurance has been at the heart of Africa's insurance story, absorbing risk, enabling growth, and ensuring that when the unexpected happens, Africa's insurance market can respond.

"For over 40 years, Continental Reinsurance has been at the heart of Africa's insurance story, absorbing risk, enabling growth, and ensuring that when the unexpected happens, Africa's insurance market can respond," said Group Managing Director Lawrence Mutsunge Nazare. He added, "Through this public offer, we are taking the next step towards becoming the first reinsurer listed on the Botswana Stock Exchange, deepening the Group's commitment to Botswana as its home market and opening a new chapter of public ownership for pan-African reinsurance."

The $30.39 million in new proceeds will bolster the group's balance sheet, aid its pursuit of an A financial strength rating, and expand its core underwriting business and Alternative Risk Solutions unit. Investments in digital infrastructure are also planned to enhance efficiency and client responsiveness. Continental Re Holdings, established in Botswana in November 2023, offers life and non-life reinsurance across over 50 African countries and the Middle East, operating through regional hubs with a diverse workforce.

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Through this public offer, we are taking the next step towards becoming the first reinsurer listed on the Botswana Stock Exchange, deepening the Group's commitment to Botswana as its home market and opening a new chapter of public ownership for pan-African reinsurance.