Continental Reinsurance (Continental Re) has launched its initial public offering (IPO) on the Botswana Stock Exchange, marking the first public offering by a reinsurer in the country.
The offer comprises total proceeds of BWP2.13bn ($156.1m), consisting of BWP409m to fund the reinsurer’s next phase of growth, and BWP1.72bn for the exit of existing shareholders. Shares are offered at BWP1.00 per share, with a minimum application of 200 shares.
“For over 40 years, Continental Re has been at the heart of Africa’s insurance story, absorbing risk, enabling growth and ensuring that when the unexpected happens, Africa’s insurance market can respond, said Continental Re Group Managing Director Lawrence Mutsunge Nazare.
“Through this public offer, we are taking the next step towards becoming the first reinsurer to be listed on the Botswana Stock Exchange, deepening the Group’s commitment to Botswana as its home market and opening a new chapter of public ownership for pan-African reinsurance.”
Mr Nazare also said, “The BWP409m we raise goes directly to work, strengthening our balance sheet and accelerating our path toward an A financial strength rating, growing our core underwriting business, scaling our capital-light alternative risk solutions unit and investing in the digital infrastructure that will make us a more efficient and responsive reinsurer for clients across Africa.”
The IPO will close on 16 September 2026, and Continental Re will be listed on 5 October 2026.