FSG Limited plans to continue expanding its nationwide presence beyond its current 23 branches, Group Managing Director Fergus Ferguson said, signaling the company’s long-term growth ambitions.
FSG, through its unit FSG Services, is a leading funeral services provider in Botswana and has, in the past two years, opened new branches in Tsabong, Ghanzi, and most recently in Shoshong. “We expect to open several other branches later on this year,” Ferguson said. “It is important to open more branches because we provide a service to customers.” He explained that it is crucial to take services to the people.
Besides being a leader in its funeral services, FSG also has a manufacturing facility where it produces caskets as well as FSG Assurance.
Speaking during a media briefing recently, Ferguson said FSG Limited is one of the large-scale businesses entirely owned by citizens. “One of the great things about FSG is that, like many businesses, it has expanded. It has expanded in Zimbabwe, Zambia, and South Africa,” he said.
“As you may be aware, a lot of businesses have exited Zimbabwe due to among others economic challenges and we have exited Zimbabwe as well many years ago.”
However, he said the Zambian business is doing extremely well, having grown to 11 branches countrywide. As such, he said there is an opportunity for further expansion in Zambia.
While FSG sees an opportunity for further growth in South Africa, Ferguson said the market has proved to be extremely competitive. Nonetheless, he said FSG is working on a strategy to ensure the business in South Africa replicates the success of markets like Botswana and Zambia.
Even though FSG Limited is no longer listed on the Botswana Stock Exchange (BSE), Ferguson said it remains a public company with over 800 shareholders who chose not to dispose of their shares when it delisted.
Through the new FSG strategy, Ferguson said the group will focus on creating value for the shareholders.
This will include the expansion of the manufacturing business, upgrading and modernising of the equipment, and growing the insurance business, according to Ferguson. “There is a significant opportunity to increase our product offering,” Ferguson said.
“We see opportunity in geographic expansion, hence we invested heavily in Zambia and we continue to at other markets.”
