Botswana: Continental Reinsurance Opens Botswana’s First Reinsurer Public Offer

The BWP409 million in new proceeds will be used to strengthen the group’s balance sheet, support its pursuit of an A financial strength rating, expand its core underwriting business

Africa’s re-insurer, Continental Reinsurance Holdings Limited, has opened a $156.1 million public offer on the Botswana Stock Exchange, paving the way for the first listing of a reinsurer on the country’s bourse.

The offer, which opened on Aug. 5 and closes on Sept. 16, comprises $30 million in new capital to finance…