Acute Global Strengthens Insurance Portfolio with P30 Million Capital Injection

Elliot Moshoke

Acute Global Limited has confirmed a P30 million capital injection into its insurance portfolio through its subsidiary Boago Emerging Markets, reinforcing the Group’s long-term commitment to building stable, well-capitalised, and competitive insurance businesses in Botswana.

Boago Emerging Markets is a subsidiary of Acute Global Limited, founded by Motswana entrepreneur Elliot Moshoke. The investment programme was structured to strengthen both long-term and short-term insurance operations within the Group.

As part of the programme, Westlife Insurance Botswana received a P20 million capital injection, exceeding the P13 million statutory capital requirement prescribed by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA).

The recapitalisation enabled Westlife Insurance Botswana to be taken out of statutory management with effect from 21 March 2025, following a period under statutory management since June 2023 due to prudential capital constraints. The successful recapitalisation safeguarded policyholder interests and restored the business to a stable operating position.

In addition, Westsure Insurance Botswana, the Group’s short term insurance business, received a P10 million capital injection. The investment is intended to support expansion initiatives, product innovation, and enhanced operational capacity as the business scales its presence within the Botswana insurance market.

Commenting on the investment, Elliot Moshoke, Group Chief Executive Officer of Acute Global Limited, said:

“We are very excited about the prospects of Westlife and Westsure. Both the long-term and short-term insurance businesses are now well-capitalized through our P30 million investment programme. Westlife was recapitalised through a P20 million investment against the required P13 million, allowing us to successfully take it out of statutory management.”

He added:

“The additional working capital invested in both Westlife and Westsure will allow us to expand our market reach and product offering. It is time for Batswana, as well as local and international corporations operating in Botswana, to rethink life insurance. Westlife will continue to benefit from the experience, entrepreneurial vision, and market reach of Acute Global Limited, with strong prospects of disrupting the local market through deeper client relationships and a sharper understanding of individual and corporate insurance needs.”
Elliot Moshoke
Elliot Moshoke
Group Chief Executive Officer of Acute Global Limited

Supporting Market Stability and Competition

Acute Global Limited views the recapitalisation as a critical step in reinforcing confidence in Botswana’s insurance industry while advancing its broader strategy of responsible investment, strong governance, and sustainable long term value creation.
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