Relationship builders: BIFM Client Cocktail 2014

Continuing in its tradition to strengthen relationships with those close to the hearts of the Botswana Insurance Fund Management (BIFM) family, Bifm engaged stakeholders once again for the annual BIFM Client Cocktail. Held on May 14th 2014, the event has become a highly anticipated feature in the BIFM stakeholder calendar.

Says BIFM CEO, Tiny Kgatlwane, “We have come a long way as BIFM, and it is through the support of our valued stakeholders, and the dedicated staff at BIFM, that we have managed to remain innovative in the way we conduct our business. It is our hope that we will continue in this mutually beneficial relationship to soar to greater heights.”

From the moment BIFM first opened its doors in 1975 as Botswana’s first “Fund” manager, the business set out with one key objective: to support and empower Batswana with relevant financial solutions. As the organisation has grown and developed over the years, this overarching objective remained the same, and continues to do so today. BIFM prides itself on an inherent desire and need to empower both individuals and institutions, as well as, through the support of the BIHL Group, growing the industry and the economy as a whole. The business has always considered its engagement with its stakeholders as central to the ethos of the business; people remain at the very core of its strategic pillars.  “We are fortunate to be in an industry and a community in which we are able to serve as relationship builders. That’s something we take incredibly seriously.”

This year’s Client Cocktail proved to be yet another stepping stone towards the realisation of this goal, continuing to chart new ways of going forward. During the Cocktail, Kgatlwane engaged with the business’ loyal and valued client base, many of whom have been supporters of the organisation as it began its story some 38 years ago. She took guests back in time along the BIFM journey, painting a picture of where BIFM stands today, thanking clients for their support and loyalty over the years, and sharing what people can anticipate from BIFM in the near future.

The story of BIFM is a simple and fortuitous one. From humble beginnings, the once small business has been able to grow from strength to strength, today boasting over P27 billion worth of assets under management. BIFM is currently the biggest asset management company in Botswana. A testament to its resilience and strategic drive, it has been able to weather through any and every storm. Kgatlwane noted that the business’ performance in 2013 was the perfect example of this, from the 25% growth of BIFM’s assets under management, to the acquisition of new mandates, the improvement in business operations from the companies within the Group, and the appointment new Offshore Managers. The latter have in fact, Kgatlwane shared, outperformed the industry benchmark.

“The constant need to be better at what we do has allowed us to take full advantage of opportunities. We know more than anyone else that you cannot put all your proverbial eggs in one basket – hence our continued growth through new business units, as with the Unit Trusts offering launched last year and which I am pleased to note continues to perform well. We remain focused in contributing to the economic development of our nation and this is evidenced by the fact that we have, in the past 2 years, funded entities with over BWP600 million in industries ranging from fast moving Consumer Goods, to retail, micro-lending, banking to state owned enterprises.“

The BIFM team continues to develop the business’ narrative, populated with an incredible array of characters who unite to shape the chapters that have yet to come.  In the unwaveringly dedicated mission to build, nurture and strengthen relationships with all valued stakeholders, this has proven to be just one more step in BIFM’s quest towards the unmatched relationship building and stakeholder rapport.