- Insurer acknowledges challenges as it celebrates 10 years
- Notes its spirit of resilience and unveils a refreshed brand
- Recognises P180m recapitalisation by BPOPF as milestone
For Bona Life, the past decade of its existence has been marred by a series of issues that often ran into statutory management.
However, the company says it has put its troubled past behind it and turned a new leaf. It marked its 10-year anniversary with a gala dinner on Tuesday this week where it also unveiled its refreshed brand.
Speaking at the dinner, the Chairman of Bona Life Board, Legomela Molodi, said the company has been proud to serve its customers over the past decade, offering them outstanding insurance products and services. “As I reflect on the life of Bona, I am reminded of the spirit of resilience and determination from the leadership of Bona, both past and present,” said Molodi. “I take great pride in these values, for they have guided us in the past 10 years. These are the values that will continue to guide us in the years that lie ahead.”
But he also acknowledged that Bona Life encountered challenges, setbacks and obstacles over the past 10 years but stayed the course. “We have never lost sight of our mission, values, or commitment to our clients,” he said. The company stayed the course and adapted, evolved, persevered and always strove to innovative effective solutions to clients. Molodi asserted that all these resonated with the Bona Life’s tagline, “See Ahead of Time.”
In the end, and most importantly, Bona Life has earned the trust and loyalty of its clients. “We have also built a team of talented and dedicated professionals who share our values and our commitment for excellence,” he noted. But regardless of the trying circumstances, he said, Bona Life has given back to the community considerably. “Our success is not measured just in numbers,” said Molodi. “It is in the quality of the lives of the people we serve. It is measured in the hard work, dedication, and tenacity that each and every employee of Bona Life brings to the company.”
Giving the keynote address on behalf of the Minister of Finance, Peggy Serame, Director, Tax\Policy at the ministry, Boikanyo Mathipa, praised Bona Life for the progress and growth that it has achieved over the past decade. “Insurance is a very critical component of the economy,” she said. “It provides protection and security for individuals, businesses and the community.”
No less significant, she added insurance helps to stabilise the economy by protecting against unforeseen events that can lead to financial ruin. “Over the last 10 years, Bona Life has played a very important role in the development and growth of Botswana’s economy by providing relatively topnotch insurance products and services,” Mathipa said. By investing in the community, she noted, the company has helped to create jobs to support local businesses and to contribute to overall economic growth.
She described Bona Life’s commitment to progress, innovation and ability to overcome challenges and stay afloat in a highly competitive industry as an inspiration. But there is still more work to be done, she asserted. “We expect Bona Life to challenge and change the status quo of the insurance sector, and look forward to it,” said Mathipa. “We expect new products and services that will meet the needs of families and businesses.”
But because there is still more work to do, she urged the company to remain alive to both challenges and opportunities. “You must continue to innovate and adapt,” she said. “You must continue to invest in the people of Botswana to ensure that we have the expertise and resources necessary to meet the changing needs of your clients.” Mathipa assured her audience that the Ministry of Finance is committed to continuing providing policies and frameworks that assist companies like Bona Life to grow, innovate and evolve.
“As the ministry, we keep on reviewing and revising legislation and policies so that we can serve the population better,” she said. Last year, Bona Life announced that the country’ richest pension fund, Botswana Public Officers Pension Fund (BPOPF), had become the single shareholder of Bona Life by injecting P180 million into the company as recapitalisation.
