Friday, March 31, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Botswana’s women boxing on the rise 

    Boxers Finally Receive their Prize Money from 2022 African Championships

    Darts Expects Only P50K from BNSC for 2023/24

    Darts Expects Only P50K from BNSC for 2023/24

    Botswana athletes to train in USA

    Botswana athletes to train in USA

    Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

    Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

    Boxers yet to Receive Prizes from 2022 African Boxing Championships 

    Boxers yet to Receive Prizes from 2022 African Boxing Championships 

    April will see 2nd Instalment of Summer Kids Marathon

    April will see 2nd Instalment of Summer Kids Marathon

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Botswana’s women boxing on the rise 

      Boxers Finally Receive their Prize Money from 2022 African Championships

      Darts Expects Only P50K from BNSC for 2023/24

      Darts Expects Only P50K from BNSC for 2023/24

      Botswana athletes to train in USA

      Botswana athletes to train in USA

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      April will see 2nd Instalment of Summer Kids Marathon

      April will see 2nd Instalment of Summer Kids Marathon

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home Companies & Markets

      Africa Lighthouse Capital acquires majority stake in FSG

      mm by Kabelo Adamson
      September 1, 2022
      in Companies & Markets
      Reading Time: 2 mins read
      0
      Africa Lighthouse Capital acquires majority stake in FSG

      GABORONE 1 June 2021, Orange Botswana and Funeral Service Group (FSG) partner in making the funeral service insurance payment easier through Orange Money in Gaborone on 1 June 2021. Orange Money representative Onalethata Moswagolw and FSG Head of sales Tebogo Moribame-Setiko officiates the launch of the service while other officials were present from both organisations. A general view of the FSG office building. (Pic:Monirul Bhuiyan/PRESS PHOTO)

      Share on FacebookShare on Twitter
      • BIHL to achieve P250m in the transaction

      ALFC I Investment, a company owned by Africa Lighthouse Capital, is in the process of buying Botswana Life’s stake in FSG Limited, the leading funeral services company in Botswana.

      This follows a notice to shareholders earlier this month by Botswana Insurance Holdings Limited (BIHL) to the effect that one of its subsidiaries, Botswana Life Insurance Limited (BLIL), has entered into a transaction for the sale of the life insurer’s 37.62 percent shareholding in FSG Limited. In a fresh update this past week, BIHL announced ALFC I as the buyer of Botswana Life shares in Funeral Service Group.

      ALFC I is one of the existing shareholders of FSG with a stake of 19.37 percent. This transaction, upon completion, will raise its shareholding to 56.99 percent. This will make ALFC I the majority shareholder of the funeral services group. Other current shareholders in FSG besides Botswana Life include Flip Coin (Pty) Ltd, Tebelelo Seretse and Vijayan Narayanan. The transaction, according to the earlier notice, was executed by way of an auction process to establish a market price and maximise value for BIHL’s shareholders.

      This culminated in BIHL achieving a cash consideration of P250 million, of which P240 million will be paid in cash on closing and the balance will be paid in cash within 10 months of closing. BIHL Public Relations, Communications & Marketing Manager, Tebogo Keepetsoe, could not address The Business Weekly & Review queries regarding the transaction, saying the Group is currently in a closed period as it prepares to release its half-year financials next week.

      “The BIHL Group is currently in a closed period as we prepare to release the 2022 half-year results on the 31st August 2022,” Keepetsoe said. “We therefore are unable to respond to your inquiry and refer you to the notice published on the Botswana Stock Exchange X-News dated 5th August 2022.” Among others, this publication sought to establish what motivated the sale of these shares and what the proceeds from the sale will be used for.

      The Business Weekly & Review also wanted to find out how FSG has been performing in the last five years, and how that performance translated in BIHL’s overall performance. BIHL 2021 financials show that FSG performed well last year, which saw revenue growing by 49 percent compared to the prior year. This performance was mainly driven by the undertaking arm of the business due to increased mortality resulting from COVID-19. Profit before tax grew by 64 percent year-on-year.

      Tags: Africa Lighthouse CapitalALFC I InvestmentBotswana Insurance Holdings Limited (BIHL)Botswana LifeFlip Coin (Pty) LtdFSG LimitedTebelelo SeretseTebogo KeepetsoeVijayan Narayanan

      Navigation

      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • March 30th Edition
      • The botched ‘rip off’
      • Grit cashes P200m from Letlole
      • March 24th Edition
      • March 17th Edition

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?