Botswana’s Non-Bank Financial Institutions Regulatory Authority has terminated the appointment of the Statutory Manager for Westlife Insurance Botswana (Pty) Ltd, thereby lifting the statutory management placed on the insurer with immediate effect. As a result, the Statutory Manager is no longer in full management, control and authority of Westlife, and all business dealings and transactions with Westlife after the publication of the notice are to be directed to Westlife’s management. The action was taken under Section 64(2) of the Non-Bank Financial Institutions Regulatory Act, 2023.
Botswana Non-Bank Financial Institutions Regulatory Authority 2025-07-07
Botswana Non-Bank Financial Institutions Regulatory Authority lifts statutory management of Westlife Insurance Botswana and terminates the statutory manager appointment
Botswana’s Non-Bank Financial Institutions Regulatory Authority has lifted the statutory management of Westlife Insurance Botswana (Pty) Ltd, terminating the Statutory Manager's appointment. All business dealings with Westlife are now to be directed to its management. This action was taken under Section 64(2) of the Non-Bank Financial Institutions Regulatory Act, 2023.