BIFM assets under management stand at P37 bn

BIFM, a unit of Botswana Insurance Holdings Limited group has recorded a notable improvement in financial performance for the half- year period ended 30 June 2022 with operating profit registering 40 percent year- on- year growth. “The increase was mainly on the back of a 29 percent improvement in operating income driven by an increase in overall assets under management ( AUM) for the Botswana and Zambia asset management businesses, coupled with a once- off accounting adjustment for the Zambian operations, ” said BIHL.

The BIHL Group reported that growth in Botswana assets was underpinned by additional inflows as well as positive market movements, while the Zambian operating results were driven by general growth in the asset base and positive currency effects emanating from the Pula/ Kwacha currency movements during the period under review. As at 30 June 2022, total AUM stood at P37 billion, including Zambian assets at P5,7 billion, an increase of 11 percent from June 2021.