# Botswana Insurance Fund Management

Botswana Insurance Fund Management is an Asset Manager based in Gaborone, Botswana.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Gaborone, Botswana
- **Region:** Africa
- **Address:** Gaborone, Botswana
- **Founded:** 1975
- **Assets under management:** Undisclosed
- **Website:** bifm.co.bw

## Regulatory record

- **Reports private funds:** No

## About

Bifm is Botswana's oldest asset management service provider and began operations in 1975. It is a 74.9% owned subsidiary of Bifm Holdings, with 25.1% owned by a Citizen Employee Share Scheme; Bifm Holdings and Botswana Life Insurance Limited are wholly-owned subsidiaries of BIHL, which is listed on the Botswana Stock Exchange. Bifm has been involved in significant property developments including Airport Junction Shopping Centre, Rail Park Mall and Fairgrounds Office Park, and in Public-Private Partnership projects with the Government such as the Lands Tribunal, Office of the Ombudsman and SADC Headquarters buildings.

## Sectors

- Real Estate
- Infrastructure
- Private Credit

## Questions

### Who owns Botswana Insurance Fund Management?

BIFM is owned by Botswana's licensed life insurance companies, a consortium structure established at its founding in 1975. This ownership model means the firm operates as a pure captive asset manager for the domestic insurance industry, with its board representing the policyholder liabilities of the participating insurers. The specific shareholder list is not publicly consolidated, but has historically included Botswana Life, the country's largest life office.

### What role does BIFM play in the Botswana Stock Exchange?

As the dominant institutional investor in the country, BIFM's portfolio holdings represent a material percentage of the free float on the Botswana Stock Exchange's domestic board. Its allocation and rebalancing decisions are closely watched by local brokers and listed companies. The firm's sheer weight means it often functions as an anchor investor in domestic initial public offerings and rights issues.

### Is BIFM a pension fund or an asset manager?

BIFM is a regulated asset manager, not a pension fund itself. It manages the investable premiums of its insurance-company shareholders, which include the reserves backing retirement annuity and pension products sold to Botswana's formal workforce. This makes it functionally adjacent to a pension fund manager but within a for-profit corporate entity.

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Last updated: 2026-08-11T15:06:20.694Z

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