Botswana Hosts OESAI Reinsurance and Data Protection Workshop

The Organisation of Eastern and Southern Africa Insurers (OESAI), in partnership with the Insurance Institute of Botswana (IIB), hosted a training workshop under the theme “Reinsurance and Data Protection” in Gaborone on 28 April 2025. The workshop addressed critical topics relating to the management of reinsurers, the transition to IFRS 17 reporting standards, and the implementation of Botswana’s new Data Protection Act.

In his opening remarks, Mr. Newton Jazire, President of the IIB, stated that the objective of the workshop was to bridge the knowledge gap in reinsurance, enhance compliance on data protection, share best practices and understand emerging trends.

Mr. Motshidisi the Chief Executive Officer of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), delivered the opening remarks, where he elaborated on the state of Botswana’s financial market stability and commitment to innovation. Mr. Motshidisi also gave an overview of the performance of the reinsurance sub-sector and highlighted the impressive growth over the past decade, with the number of industry players increasing from two (2) in 2013 to seven (7) in 2024, assets surging from P50 million to P1 billion over the same period, and net profits increasing nearly 200 percent in 2023 alone. He encouraged reinsurers to embrace innovation, leverage technology, and address emerging risks like climate change, and to collaborate to build resilient, future-ready insurance markets across the region. In closing he reaffirmed NBFIRA’s commitment to international regulatory standards and regional collaboration.