Continental Re Set to Become First Listed Reinsurer on Botswana Stock Exchange

Continental Reinsurance Holdings Limited has officially opened its public offer on the Botswana Stock Exchange (BSE), paving the way for the company to become the very first reinsurer to list on the national exchange. 

The landmark offering seeks to raise total proceeds of BWP 2.13 billion ($156.1 million) and marks a major milestone for both the pan-African reinsurance giant and Botswana’s rapidly developing capital markets, according to a statement on Monday.

The public offer allows both retail and institutional investors to acquire a stake in the company. Shares are currently priced at BWP 1.00 each, with a highly accessible minimum application requirement of just 200 shares (BWP 200). 

Of the total expected proceeds, BWP 409 million ($30 million) will be injected directly into the Group to fund its next phase of strategic growth, while the remaining BWP 1.72 billion ($126.1 million) will facilitate the exit of current shareholders. 

The listing is not just a corporate milestone; it also aligns with national economic priorities. It directly supports the Financial Services & Digitalisation pillar of the Botswana Economic Transformation Programme by deepening the country’s domestic capital markets.

“For over 40 years, Continental Reinsurance has been at the heart of Africa’s insurance story, absorbing risk, enabling growth, and ensuring that when the unexpected happens, Africa’s insurance market can respond,” said Lawrence Mutsunge Nazare, Group Managing Director. 

Nazare outlined clear plans for the $30 million being raised for the company’s growth. The capital injection will be put to work immediately to strengthen the company’s balance sheet, accelerate the path toward an ‘A’ financial strength rating, grow its core underwriting business, scale its capital-light Alternative Risk Solutions unit, and invest in advanced digital infrastructure to better serve clients across the continent.

Currently operating across 50 African countries and generating over $173 million in annual revenue, Continental Reinsurance is using this public offer to solidify Botswana as its home market. 

“To every prospective investor: this is an invitation to own a stake in a company built on four decades of disciplined underwriting,” Nazare added. “We are proud to list here, and we look forward to growing together.”