The Botswana Insurance Holdings Limited (BIHL) Group have announced the departure of Batsho Dambe-Groth after serving 13 years in the company board.
BIHL in statement released on Friday, said Dambe-Groth will be stepping down from both roles, as she prepares for an exciting new chapter in her personal and professional life.
“Mrs. Dambe-Groth has been truly integral to the sound governance, stewardship, and milestones of this Group and by extension our Subsidiaries Botswana Life and Bifm,” said Robert Dommisse on behalf of the BIHL Group Board.
“The mark she has made during her tenure is not only indelible, but quite simply unrivalled, allowing this great bull to grow in resilience, fortitude, stature, and indeed in its sire.
“We thank Mrs. Dambe-Groth for her guidance, service, and passion in helping shape the BIHL Group to the business it is today and remain grateful for all that she has done.
“Changes in Board composition and indeed that of the Chairman is a continuous evolving process in businesses. The resilience of this group is rooted in our ability to evolve and prosper, and this is yet another launchpad for us to show the Strength in Numbers of this business, leveraged to truly engineer legacies for and with Batswana.”
Dambe-Groth has served as Chairman of the Board of Directors for 11 years, and a Member of the Board of Directors for 13 years.
During this period, such major milestones of the business were overseeing the acquisition of 50 percent in BIC and 25.1 percent in Nico Holdings Malawi, increased shareholding in Letshego Group, significant growth trajectory and the onboarding of new leadership teams across the Group, and more.
Under her leadership the BIHL Group has grown to be the largest financial services group on the Botswana Stock Exchange (BSE) and a key player in the financial markets; the Group boasts increasing diverse revenue streams with strong group liquidity and balance sheet position, a renowned leadership team, and is a strong and trusted brand that has wielded considerable socio-economic impact for and with Batswana through its community support arm, the BIHL Trust, as well as across the Group’s Subsidiaries and Associates.
For her part, Dambe-Groth said: “Through my leadership and working with amazing people, I can say I am leaving the BIHL Group in a strong financial position. I have always wanted to ensure that when I leave, I can leave knowing that I have helped grow the BIHL Group into a sustainable, profitable and growing business, serving the needs of our clients, key stakeholders and Botswana at large. It’s been a pleasure and a challenge being part of BIHL and I want to express my appreciation to staff, Directors and our majority shareholder, Sanlam, for the faith they have had in me to lead this mammoth company.”
Dambe-Groth, according BIHL Group, will stay on long enough for a new candidate to be identified, cognisant of the need for seamless transition and continuity in the best interests of the business and its valued shareholders and stakeholders.
The recruitment process for the new Chairman has commenced, in line with best practice and all requisite processes for the appointment of a new Chairman for this proudly Botswana heritage business.