Hollard Life completes acquisition of Absa Life Botswana

Gaborone - Hollard Life Botswana has successfully completed the acquisition of Absa Life Botswana's insurance business in the country. The transaction saw Hollard Life Botswana acquire 100% of Absa Group’s shareholding in Absa Life Botswana. The acquisition will see Hollard Life Botswana welcome the Absa Life Botswana insurance team into its operations.

Tabuya Tau, Managing Director Hollard Life Botswana comments, “The acquisition of Absa Life’s insurance business represents a milestone in our strategic roadmap - it aligns with our growth ambitions to expand our reach and cement our presence in Botswana. By integrating Absa Life's expertise and client base with our own, we are better positioned to fulfil our core purpose of enabling more Batswana to secure their financial futures and protect their loved ones with confidence and peace of mind."

Hollard Life Botswana is committed to creating shared value in the communities it serves. The company’s core belief is that its success is intertwined with the progress of the communities it serves. This acquisition will further enable Hollard to make a greater positive impact in Botswana, providing customers with a more comprehensive and tailored range of insurance products and services, and leveraging the combined strengths and expertise of both companies.

Existing Absa Life Botswana policyholders can rest assured that their current policies, benefits, and service levels will remain unchanged. Hollard Life is fully committed to ensuring a seamless transition, prioritising customer satisfaction throughout the process.

Jane Tselayakgosi, Group CEO of Hollard Insurance Botswana says, “We are excited about this positive development, and we’re confident that our new customers will see the benefits of the acquisition. We assure our customers that they are partnering with a company dedicated to their well-being as well as that of their loved ones."

This acquisition is against the background of Hollard International, the international division of the Hollard Insurance Company Ltd, acquiring the Life insurance businesses of Absa Group in Mozambique, Botswana, and Zambia, as well as its General insurance licence in Mozambique through its local subsidiaries. The Absa insurance businesses in Mozambique trade together under the Global Alliance brand.