Babereki Insurance Brokers (Pty) Ltd is an NBFIRA licensed insurance brokerage firm which is a 100% wholly owned subsidiary of Babereki Investments (Pty) Ltd, which is owned by BOPEU Group. The company was established in 2013 and we operate from our Head office at Plot 54374, Block Grand Union Building, CBD in Gaborone. We endeavour to bring our services close to our members and have regional offices in Palapye, Francistown, Maun and Kang. BIB was formed specifically to offer discounted insurance covers to our members and to cushion our members against escalating market prices and lastly to diversify our income streams and maximise shareholder value. The decision to form the company followed a huge outcry from BOPEU members against escalating insurance prices in the market and against the dwindling members economic income.
Our management team is ably led by a diversified Board of Directors who boast of years of experience in banking, finance, law and insurance both locally and internationally.
OUR PARTNERS
It is in a joint venture with Moonlight Botswana, a company in cooperated locally but owned by a Zimbabwean company called Moonlight Provident Associates (Pvt) Ltd. The joint venture company is called Babereki – Moonlight (Pty) Ltd.
WHAT DO WE DO
The core business of Babereki Insurance Brokers (Pty) Ltd is to offer BOPEU members affordable funeral scheme products. Subscription fee for membership is 1% of their basic salary and an insurance of fee of BWP 20 that covers a compulsory funeral cover for member and immediate family (spouse and children). Benefit for member or spouse is BWP30, 000.00. Benefit for children vary according to age, the maximum age being 21 years. There is also an optional cover for parents and extended relatives who are directly related to member and should be under the age of 85. Minimum benefit cover is BWP3, 000.00 and maximum is BWP6, 000.00.
OUR VISION
“To be a risk solutions provider of Choice”
OUR MISSION
“We offer and administer quality risk solutions for clients and customers enabling positive returns for our shareholder”
OUR VALUES
Integrity
We deliver our products, services in a principled, transparent, and worker friendly manner
Enterprising
We are innovative and entrepreneurial in our business activities
Botho
We are courteous, responsive and empathetic in our dealings with customers, partners and investors
CORPORATE GOVERNANCE
Our Corporate governance framework enables the board to oversee strategic direction, financial goals, resource allocation and risk appetite, and to hold executive management accountable for execution.The Board also ensures that executive management sets the tone for good governance, based on the company’s values.
The board is also responsible for reviewing the performance of the company in the light of its strategy objectives, plans and budgets and ensure that any necessary corrective is taken, maintains a sound system of internal control and risk management including receiving reports on, and reviewing the effectiveness of the company’s risk and control processes to support its strategy and objectives approving an appropriate statement for inclusion in the annual report.
The appointment of Board members is governed by the Company Constitution and Botswana Companies Act, and their appointment has been confirmed by the Non-Banking Financial Institutions Regulatory Authority - NBFIRA.