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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

BIHL

BIHL · Botswana Stock Exchange · Consolidated statements

On this page
Company details
Legal name
Botswana Insurance Holdings Limited
Listing
BIHL on the Botswana Stock Exchange, active (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, final status not established · source

Read with these figures

  • Annual report not confirmed as final. The published copy is unsigned. The FY2025 figures come from it.
Full wording and sources

  • Annual report for 2025: final status not established

    The independent auditor's report to the shareholders (opinion PDF p114) closes with the typeset 'PricewaterhouseCoopers, Firm of Certified Auditors, Practicing Member: Rudi Binedell (CAP003 2026), 22 May 2026, Gaborone' and no visible signature (PDF p119, page image). The statement of responsibility of the board says the annual financial statements on pages 120 to 239 were authorised for issue on 21 May 2026 and signed on the board's behalf by Dr Keith Jefferis (Group Chairman) and Catherine Lesetedi (Group Chief Executive Officer), whose names are typeset with no visible signature (PDF p110, page image). The auditor's report also says its opinion was issued on a separate document titled 'Botswana Insurance Holdings Limited Annual Consolidated and Separate Financial Statements for the year ended 31 December 2025' and treats this Integrated Annual Report as other information.

    Source: BIHL Group Integrated Annual Report 2025 (dated 2026-05-22)

  • Annual report for 2024: final status not established

    The independent auditor's report to the shareholders (unmodified opinion PDF p104) closes with the typeset 'PricewaterhouseCoopers, Firm of Certified Auditors, Practising Member: Rudi Binedell (CAP003 2024), 7 April 2025, Gaborone' and no visible signature (PDF p107, page image). The statement of responsibility of the board says the annual financial statements on pages 108 to 231 were authorised for issue on 4 April 2025 and signed on its behalf by Dr Keith Jefferis (Group Chairman) and Catherine Lesetedi (Group Chief Executive Officer), names typeset with no visible signature (PDF p101, page image). The auditor's 'Other information' paragraph says the report was obtained on a separate document titled 'Botswana Insurance Holdings Limited Annual Consolidated and Separate Financial Statements for the year ended 31 December 2024' and treats this Integrated Annual Report as other information (p107).

    Source: BIHL Group Integrated Annual Report 2024 (dated 2025-04-07)

  • Insurance revenue (IFRS 17)

    BWP 2.46 billion

    2,460,529 BWP thousands · p121

    Change not shown.

    IFRS 17 insurance revenue, as printed: not gross written premiums.

  • Insurance service result

    BWP 234 million

    233,900 BWP thousands · p121

    Change not shown.

  • Profit / (loss) for the year

    BWP 324 million

    324,392 BWP thousands · p121

    Change not shown.

  • Total assets

    BWP 21.0 billion

    20,957,901 BWP thousands · p120

    Change not shown.

  • Insurance contract liabilities

    BWP 8.01 billion

    8,010,129 BWP thousands · p120

    Change not shown.

  • Total equity

    BWP 3.25 billion

    3,250,514 BWP thousands · p120

    Change not shown.

Large amounts are rounded for reading (BWP million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the two years come from different filings.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in BWP thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, final status not established; reported for the year · source
  • FY2024 — annual report, final status not established; reported for the year · source
    • Annual report for 2024: final status not established. The independent auditor's report to the shareholders (unmodified opinion PDF p104) closes with the typeset 'PricewaterhouseCoopers, Firm of Certified Auditors, Practising Member: Rudi Binedell (CAP003 2024), 7 April 2025, Gaborone' and no visible signature (PDF p107, page image). The statement of responsibility of the board says the annual financial statements on pages 108 to 231 were authorised for issue on 4 April 2025 and signed on its behalf by Dr Keith Jefferis (Group Chairman) and Catherine Lesetedi (Group Chief Executive Officer), names typeset with no visible signature (PDF p101, page image). The auditor's 'Other information' paragraph says the report was obtained on a separate document titled 'Botswana Insurance Holdings Limited Annual Consolidated and Separate Financial Statements for the year ended 31 December 2024' and treats this Integrated Annual Report as other information (p107).
  • FY2023 — annual report, final status not established; comparative in the FY2024 filing · source
    • Annual report for 2024: final status not established. The independent auditor's report to the shareholders (unmodified opinion PDF p104) closes with the typeset 'PricewaterhouseCoopers, Firm of Certified Auditors, Practising Member: Rudi Binedell (CAP003 2024), 7 April 2025, Gaborone' and no visible signature (PDF p107, page image). The statement of responsibility of the board says the annual financial statements on pages 108 to 231 were authorised for issue on 4 April 2025 and signed on its behalf by Dr Keith Jefferis (Group Chairman) and Catherine Lesetedi (Group Chief Executive Officer), names typeset with no visible signature (PDF p101, page image). The auditor's 'Other information' paragraph says the report was obtained on a separate document titled 'Botswana Insurance Holdings Limited Annual Consolidated and Separate Financial Statements for the year ended 31 December 2024' and treats this Integrated Annual Report as other information (p107).

Income statement

Income statement, BWP thousands. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), as reported for the year; FY2023 — annual report (final status not established), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportreported for the yearsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Result from insurance operations12 279,359 204,204 585,751
Result from insurance contracts34 281,565 203,555 601,726
Insurance service result5 233,900 127,199 286,393
Insurance revenue6 2,460,529 2,267,063 2,221,787
Insurance service expenses7 (2,184,112) (2,100,784) (1,919,919)
Income or expense from reinsurance contracts (42,517) (39,080) (15,475)
Insurance investment result89 47,665 76,356 315,333
Insurance finance income or expense 402,652 (356,900) (463,795)
Reinsurance finance income or expense10 5,266 (15,494) (26,935)
contracts1112 (360,253) 448,750 806,063
Other expenses relating to insurance operations13 (2,206) 649 (15,975)
Result from other operations14 95,666 484,89915 541,111
Revenue16 286,330 350,615 295,546
Investment income21718 653,215 452,59919 284,903
Investment surpluses220 151,719 Not reported in this filing2221 Not reported in this filing23
Change in fair value of external investors’ liabilities2425 (342,008) 67,99226 129,172
Change in fair value of net investment contracts27 (320,542) Not reported in this filing2928 Not reported in this filing29
Sales remuneration30 (57,077) (36,171) (37,067)
Administration costs31 (275,971) (216,061) (214,495)
Net impairment losses on financial assets (7,276) Not reported in this filing3332 Not reported in this filing33
Net operating result3435 367,749 433,92336 863,657
Finance cost on leases (IFRS 16) (1,725) (709) (762)
Equity-accounted earnings 185,710 168,673 78,934
Impairment of associates37 (84,163) (553,192) –38
Profit before tax 467,571 49,404 1,084,260
Taxation39 (143,179) (155,941) (302,737)
Profit/(loss) for the year40 324,392 (106,537) 781,523
– Movement in foreign currency translation reserve4142 117,555 (19,642) (170,662)
– Movement in other comprehensive income43 23,769 Not reported in this filing4544 Not reported in this filing45
Total comprehensive income/(loss) for the year46 465,716 (126,179) 610,861
Non-controlling interest4748 (2,019) (403) 6,224
Interest income using the effective interest rate (EIR) Not reported in this filing49 4,491 4,395
Other interest income from external investors in consolidated funds150 Not reported in this filing51 291,581 305,979
Fair value losses from derivative instrument52 Not reported in this filing53 18,855 (11,830)
Change in fair value of investment contract liabilities54 Not reported in this filing55 (341,661) (31,903)
Net changes in external investors in consolidated funds156 Not reported in this filing57 (359,573) (435,151)
Other expenses58 Not reported in this filing59 (252,941) (252,324)
Impairments60 Not reported in this filing61 (2,239) (10,881)
Profit on sale of associate62 Not reported in this filing63 –38 141,669
  1. Printed “–”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (62)
  1. “Result from insurance operations” is an issuer-specific line, not mapped to a shared definition: Note 7: result from insurance contracts plus other expenses relating to insurance operations.
  2. Printed under different labels across filings: “Net result from life insurance operations”; “Result from insurance operations”.
  3. “Result from insurance contracts” is an issuer-specific line, not mapped to a shared definition: Insurance service result plus insurance investment result.
  4. Printed under different labels across filings: “Result from insurance contracts”; “Result from life insurance contracts”.
  5. Printed under different labels across filings: “Insurance service result”; “Net insurance service result”.
  6. Printed under different labels across filings: “Insurance revenue”; “Insurance revenue1”.
  7. Printed under different labels across filings: “Insurance service expenses”; “Insurance service expenses1”.
  8. “Insurance investment result” is an issuer-specific line, not mapped to a shared definition: Insurance and reinsurance finance income or expense plus investment income on assets held in respect of insurance contracts.
  9. Printed under different labels across filings: “Insurance investment result”; “Investment service result”.
  10. “Reinsurance finance income or expense” is an issuer-specific line, not mapped to a shared definition: Finance income or expense from reinsurance contracts held.
  11. “contracts” is an issuer-specific line, not mapped to a shared definition: Within the insurance investment result.
  12. Printed under different labels across filings: “Investment income on assets held in respect of insurance contracts”; “contracts”.
  13. “Other expenses relating to insurance operations” is an issuer-specific line, not mapped to a shared definition: Note 24.
  14. “Result from other operations” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of revenue, investment income and surpluses, fair-value changes, sales remuneration and administration costs.
  15. Annual report dated 2026-05-22 prints 232 667 (thousands, p121) for this line and year.
  16. Printed under different labels across filings: “Revenue”; “Revenue from contracts with customers”.
  17. “Investment income2” is an issuer-specific line, not mapped to a shared definition: Note 15.4 (re-presented, note 31).
  18. Printed under different labels across filings: “Investment income”; “Investment income2”.
  19. Annual report dated 2026-05-22 prints 785 284 (thousands, p121) for this line and year.
  20. “Investment surpluses2” is an issuer-specific line, not mapped to a shared definition: Note 15.4 (re-presented, note 31).
  21. Annual report dated 2026-05-22 presents this line for this year: 91 338 (p121). Not shown in this column, which follows one filing's presentation.
  22. Not reported in this filing: Not printed: the statements of profit or loss (pp110-111) and comprehensive income (p112) have no 'Investment surpluses' line for 2024; the group column prints 'Investment income' (16.3) and 'Interest income using the effective interest rate (EIR)' (p110). The 2025 filing re-presents these lines (its note 31); no figure is taken from it. Text layer.
  23. Not reported in this filing: Not printed: the statements of profit or loss (pp110-111) and comprehensive income (p112) have no 'Investment surpluses' line for 2023; the group column prints 'Investment income' (16.3) and 'Interest income using the effective interest rate (EIR)' (p110). The 2025 filing re-presents these lines (its note 31); no figure is taken from it. Text layer.
  24. “Change in fair value of external investors’ liabilities” is an issuer-specific line, not mapped to a shared definition: Within the result from other operations.
  25. Printed under different labels across filings: “Change in fair value of external investors' liabilities1”; “Change in fair value of external investors’ liabilities”.
  26. Annual report dated 2026-05-22 prints (400 677) (thousands, p121) for this line and year.
  27. “Change in fair value of net investment contracts” is an issuer-specific line, not mapped to a shared definition: Within the result from other operations.
  28. Annual report dated 2026-05-22 presents this line for this year: (341 661) (p121). Not shown in this column, which follows one filing's presentation.
  29. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Change in fair value of investment contract liabilities' (p110), shown in the row 'Change in fair value of investment contract liabilities'.
  30. “Sales remuneration” is an issuer-specific line, not mapped to a shared definition: Within the result from other operations.
  31. Printed under different labels across filings: “Administration costs”; “Administration expenses”.
  32. Annual report dated 2026-05-22 presents this line for this year: (2 239) (p121). Not shown in this column, which follows one filing's presentation.
  33. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Impairments' (p110), shown in the row 'Impairments'.
  34. “Net operating result”: mapping to a shared definition is uncertain. Printed subtotal before associates and other income; unlike the FY2025 'Net operating result' it is after the lease finance cost.
  35. Printed under different labels across filings: “Net operating result”; “Profit before share of profit of associates, joint ventures and other income”.
  36. Annual report dated 2026-05-22 prints 434 632 (thousands, p121) for this line and year.
  37. “Impairment of associates” is an issuer-specific line, not mapped to a shared definition: Note 15.2.
  38. Printed under different labels across filings: “Income tax expense”; “Taxation”.
  39. Printed under different labels across filings: “(Loss)/profit for the year”; “Profit/(loss) for the year”.
  40. “– Movement in foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: OCI, to be recycled through profit or loss.
  41. Printed under different labels across filings: “of foreign operations”; “– Movement in foreign currency translation reserve”.
  42. “– Movement in other comprehensive income” is an issuer-specific line, not mapped to a shared definition: OCI, to be recycled through profit or loss.
  43. Annual report dated 2026-05-22 presents this line for this year: – (p121). Not shown in this column, which follows one filing's presentation.
  44. Not reported in this filing: Not printed: the statement of comprehensive income (p112) prints only 'Exchange differences on translation of foreign operations' among other comprehensive income items; no 'Movement in other comprehensive income' line. Text layer.
  45. Printed under different labels across filings: “Total comprehensive income/(loss) for the year”; “for the year”.
  46. “Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Attribution of profit for the year.
  47. Printed under different labels across filings: “Non-controlling interest”; “– Non-controlling interests”.
  48. Not reported in this filing: Not printed: the group statement of profit or loss and other comprehensive income (p121) has no 'Interest income using the effective interest rate' line for 2025; it prints 'Revenue', 'Investment income' and 'Investment surpluses' under result from other operations. Its footnote 2 says lines were re-presented (note 31). Text layer.
  49. “Other interest income from external investors in consolidated funds1” is an issuer-specific line, not mapped to a shared definition: Note 10: within the result from other operations.
  50. Not reported in this filing: Not printed: the group statement of profit or loss and other comprehensive income (p121) has no 'Other interest income from external investors in consolidated funds' line for 2025; it prints 'Change in fair value of external investors' liabilities'. Its footnote 2 says lines were re-presented (note 31). Text layer.
  51. “Fair value losses from derivative instrument” is an issuer-specific line, not mapped to a shared definition: Note 9: within the result from other operations (printed label 'losses'; 2024 a gain).
  52. Not reported in this filing: Not printed: the group statement of profit or loss and other comprehensive income (p121) has no 'Fair value losses from derivative instrument' line for 2025; it prints no derivative line among 'Result from other operations'. Its footnote 2 says lines were re-presented (note 31). Text layer.
  53. “Change in fair value of investment contract liabilities” is an issuer-specific line, not mapped to a shared definition: Note 16.4: within the result from other operations.
  54. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Change in fair value of net investment contracts' (p121), shown in the row 'Change in fair value of net investment contracts'.
  55. “Net changes in external investors in consolidated funds1” is an issuer-specific line, not mapped to a shared definition: Note 10: within the result from other operations.
  56. Not reported in this filing: Not printed: the group statement of profit or loss and other comprehensive income (p121) has no 'Net changes in external investors in consolidated funds' line for 2025; it prints only 'Change in fair value of external investors' liabilities'. Its footnote 2 says lines were re-presented (note 31). Text layer.
  57. “Other expenses” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: administration expenses, sales remuneration and finance cost on leases.
  58. Not reported in this filing: Not printed: the group statement of profit or loss and other comprehensive income (p121) has no 'Other expenses' line for 2025; it prints 'Sales remuneration' and 'Administration costs' individually, with no 'Other expenses' subtotal ('Other expenses relating to insurance operations' is a different line within the insurance result). Its footnote 2 says lines were re-presented (note 31). Text layer.
  59. “Impairments” is an issuer-specific line, not mapped to a shared definition: Note 17.3 ('Other impairments').
  60. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Net impairment losses on financial assets' (p121), shown in the row 'Expected credit losses / impairment of financial assets'.
  61. “Profit on sale of associate” is an issuer-specific line, not mapped to a shared definition: Note 4.6.
  62. Not reported in this filing: Not printed: the group statement of profit or loss and other comprehensive income (p121) has no 'Profit on sale of associate' line for 2025; it prints 'Equity-accounted earnings' and 'Impairment of associates' below 'Net operating result'. Its footnote 2 says lines were re-presented (note 31). Text layer.

Balance sheet

Balance sheet, BWP thousands. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), as reported for the year; FY2023 — annual report (final status not established), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportreported for the yearsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Goodwill21 62,992 Not reported in this filing32 Not reported in this filing3
Property and equipment24 41,932 169,8385 170,052
Right-of-use assets 19,043 13,799 11,879
Owner-occupied properties26 126,077 Not reported in this filing87 Not reported in this filing8
Intangible assets29 25,598 89,78410 97,247
Insurance contracts assets11 –12 219,392 452,771
Reinsurance contracts assets13 11,258 16,864 17,874
Deferred tax 7,956 Not reported in this filing1514 Not reported in this filing15
Investments16 19,720,610 Not reported in this filing1817 Not reported in this filing18
Investment property219 455,208 26,48020 26,480
joint ventures21 1,595,408 1,457,254 1,758,469
Equities and similar securities2222324 2,258,885 3,137,41325 2,819,782
Interest-bearing investments226 9,267,145 Not reported in this filing2827 Not reported in this filing28
Investment funds229 2,100,103 Not reported in this filing3130 Not reported in this filing31
Deposits and similar securities232 4,043,861 Not reported in this filing3433 Not reported in this filing34
Working capital assets35 942,435 Not reported in this filing3736 Not reported in this filing37
Trade and other receivables23839 137,902 132,97440 135,632
Cash and cash equivalents 804,533 210,44341 170,583
Total assets 20,957,901 20,379,98442 20,017,717
Stated capital 204,936 204,936 204,936
Other reserves4344 266,648 157,459 106,375
Retained earnings 2,770,448 2,719,29845 3,302,730
Shareholders’ fund46 3,242,032 3,081,69347 3,614,041
Non-controlling interest48 8,482 10,501 23,751
Total equity 3,250,514 3,092,19449 3,637,792
Insurance contract liabilities50 8,010,129 8,397,033 7,961,752
Reinsurance contract liabilities51 66,262 87,034 54,222
Investment contract liabilities52 3,638,917 3,637,385 3,442,868
Lease liabilities5354 21,035 14,776 12,707
External investors in consolidated funds5556 5,306,043 4,616,51257 4,504,564
Derivatives instrument 116,992 44,284 25,429
Deferred tax58 2,030 101,922 141,908
Related party balances59 3,655 5,438 6,867
Working capital liabilities60 542,324 Not reported in this filing6261 Not reported in this filing62
Bank overdraft 148,206 60,232 –63
Trade and other payables6465 280,125 322,77466 210,984
Taxation67 113,993 400 18,624
Total liabilities 17,707,387 Not reported in this filing6968 Not reported in this filing69
Total equity and liabilities 20,957,901 20,379,98442 20,017,717
Bank overdrafts17071 –72 (60,232) –73
Interest in subsidiaries74 Not reported in this filing75 –12 –12
Non-current asset held for sale76 Not reported in this filing77 –12 –12
Financial assets at fair value through profit or loss1 Not reported in this filing78 18,043,156 17,176,730
Bonds79 Not reported in this filing80 9,570,753 8,916,531
Investment in property funds and companies81 Not reported in this filing82 1,203,577 1,277,154
Money market instruments83 Not reported in this filing84 4,131,413 4,163,263
Tax receivable Not reported in this filing85 –12 –12
Related party balances86 Not reported in this filing87 –12 –12
  1. Printed “–”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “–”, read as nil: subtotal_arithmetic: bs.total_equity_and_liabilities.
  3. Printed “–”; reading unresolved, so no amount is shown. 2025 cell prints a dash: from 2025 bank overdrafts are classified as financing cash flows (note 28.2 footnote 1, p196; statement of cash flows footnote 2, p124), so none is included in cash; no printed subtotal is transcribed to confirm a nil.
  4. Printed “–”; reading unresolved, so no amount is shown. Printed dash, read on the page image (p208); recorded as printed and not interpreted as nil. Note 24.1 'Cash and cash equivalents', group 2023 column.
Notes and alternative reported figures (83)
  1. “Goodwill2” is an issuer-specific line, not mapped to a shared definition: Note 2 (re-presented, note 31).
  2. Annual report dated 2026-05-22 presents this line for this year: 62 992 (p120). Not shown in this column, which follows one filing's presentation.
  3. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Goodwill' line; it prints 'Intangible assets' (p108). Text layer.
  4. Printed under different labels across filings: “Property and equipment”; “Property and equipment2”.
  5. Annual report dated 2026-05-22 prints 42 887 (thousands, p120) for this line and year.
  6. “Owner-occupied properties2” is an issuer-specific line, not mapped to a shared definition: Note 5 (re-presented, note 31).
  7. Annual report dated 2026-05-22 presents this line for this year: 126 951 (p120). Not shown in this column, which follows one filing's presentation.
  8. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Owner-occupied properties' line; it prints 'Property and equipment' (p108). Text layer.
  9. Printed under different labels across filings: “Intangible assets”; “Intangible assets2”.
  10. Annual report dated 2026-05-22 prints 26 792 (thousands, p120) for this line and year.
  11. Printed under different labels across filings: “Insurance contract assets1”; “Insurance contracts assets”.
  12. Printed under different labels across filings: “Reinsurance contract assets”; “Reinsurance contracts assets”.
  13. Annual report dated 2026-05-22 presents this line for this year: – (p120). Not shown in this column, which follows one filing's presentation.
  14. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Deferred tax (asset)' line; it prints only 'Deferred tax liability' (p109). Text layer.
  15. “Investments” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: investment property, associates and joint ventures, equities, interest-bearing investments, investment funds, deposits.
  16. Annual report dated 2026-05-22 presents this line for this year: 19 213 090 (p120). Not shown in this column, which follows one filing's presentation.
  17. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Investments' line; it prints the investment lines individually with no 'Investments' subtotal (p108). Text layer.
  18. Printed under different labels across filings: “Investment property”; “Investment property2”.
  19. Annual report dated 2026-05-22 prints 475 280 (thousands, p120) for this line and year.
  20. Printed under different labels across filings: “Investments in associates and joint ventures”; “joint ventures”.
  21. “Equities and similar securities2” is an issuer-specific line, not mapped to a shared definition: Note 15.3.
  22. “Equities and similar securities2”: mapping to a shared definition is uncertain. Printed 'Equity investments (local and foreign)'; FY2025 prints 'Equities and similar securities'.
  23. Printed under different labels across filings: “Equities and similar securities2”; “Equity investments (local and foreign)”.
  24. Annual report dated 2026-05-22 prints 2 142 567 (thousands, p120) for this line and year.
  25. “Interest-bearing investments2” is an issuer-specific line, not mapped to a shared definition: Note 15.3.
  26. Annual report dated 2026-05-22 presents this line for this year: 9 532 661 (p120). Not shown in this column, which follows one filing's presentation.
  27. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Interest-bearing investments' line; it prints 'Bonds' and 'Money market instruments' (p108). Text layer.
  28. “Investment funds2” is an issuer-specific line, not mapped to a shared definition: Note 15.3.
  29. Annual report dated 2026-05-22 presents this line for this year: 1 787 715 (p120). Not shown in this column, which follows one filing's presentation.
  30. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Investment funds' line; it prints 'Financial assets at fair value through profit or loss', 'Investment in property funds and companies' and 'Equity investments (local and foreign)' (p108). Text layer.
  31. “Deposits and similar securities2” is an issuer-specific line, not mapped to a shared definition: Note 15.3.
  32. Annual report dated 2026-05-22 presents this line for this year: 3 817 613 (p120). Not shown in this column, which follows one filing's presentation.
  33. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Deposits and similar securities' line; it prints 'Money market instruments' (p108). Text layer.
  34. “Working capital assets” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: trade and other receivables and cash and cash equivalents.
  35. Annual report dated 2026-05-22 presents this line for this year: 698 321 (p120). Not shown in this column, which follows one filing's presentation.
  36. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Working capital assets' line; it prints 'Other receivables' and 'Cash and cash equivalents' with no working-capital subtotal (p108). Text layer.
  37. “Trade and other receivables2”: mapping to a shared definition is uncertain. Printed 'Other receivables' (note 5); FY2025 prints 'Trade and other receivables'.
  38. Printed under different labels across filings: “Other receivables”; “Trade and other receivables2”.
  39. Annual report dated 2026-05-22 prints 174 078 (thousands, p120) for this line and year.
  40. Annual report dated 2026-05-22 prints 524 243 (thousands, p120) for this line and year.
  41. Annual report dated 2026-05-22 prints 20 421 088 (thousands, p120) for this line and year.
  42. “Other reserves”: mapping to a shared definition is uncertain. Printed 'Non-distributable reserves' (note 7); FY2025 prints 'Other reserves'.
  43. Printed under different labels across filings: “Non-distributable reserves”; “Other reserves”.
  44. Annual report dated 2026-05-22 prints 2 649 496 (thousands, p120) for this line and year.
  45. Printed under different labels across filings: “Shareholders’ fund”; “Total equity attributable to equity holders of the parent”.
  46. Annual report dated 2026-05-22 prints 3 011 891 (thousands, p120) for this line and year.
  47. Printed under different labels across filings: “Non-controlling interest”; “Non-controlling interests”.
  48. Annual report dated 2026-05-22 prints 3 022 392 (thousands, p120) for this line and year.
  49. Printed under different labels across filings: “Insurance contract liabilities”; “Insurance contract liabilities1”.
  50. Printed under different labels across filings: “Reinsurance contract liabilities”; “Reinsurance contract liability”.
  51. Printed under different labels across filings: “Investment contract liabilities”; “Investment contract liabilities1”.
  52. “Lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 4.2; unclassified balance sheet.
  53. Printed under different labels across filings: “Lease liabilities”; “Lease liability”.
  54. “External investors in consolidated funds” is an issuer-specific line, not mapped to a shared definition: Note 12.
  55. Printed under different labels across filings: “External investors in consolidated funds”; “External investors in consolidated funds1”.
  56. Annual report dated 2026-05-22 prints 4 644 295 (thousands, p120) for this line and year.
  57. Printed under different labels across filings: “Deferred tax”; “Deferred tax liability”.
  58. “Related party balances” is an issuer-specific line, not mapped to a shared definition: Note 27, liabilities.
  59. “Working capital liabilities” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: bank overdraft, trade and other payables and taxation.
  60. Annual report dated 2026-05-22 presents this line for this year: 466 529 (p120). Not shown in this column, which follows one filing's presentation.
  61. Not reported in this filing: Not printed: the group statement of financial position (pp108-109) has no 'Working capital liabilities' line; it prints 'Other payables', 'Tax payable', 'Related party balances' and 'Bank overdraft' with no working-capital subtotal (p109). Text layer.
  62. “Trade and other payables”: mapping to a shared definition is uncertain. Printed 'Other payables' (note 14); FY2025 prints 'Trade and other payables'.
  63. Printed under different labels across filings: “Other payables1”; “Trade and other payables”.
  64. Annual report dated 2026-05-22 prints 405 897 (thousands, p120) for this line and year.
  65. Printed under different labels across filings: “Tax payable”; “Taxation”.
  66. Annual report dated 2026-05-22 presents this line for this year: 17 398 696 (p120). Not shown in this column, which follows one filing's presentation.
  67. Not reported in this filing: Not printed: the unclassified balance sheet gives no total-liabilities line (p109).
  68. “Bank overdrafts1” is an issuer-specific line, not mapped to a shared definition: Note 28.2: bank overdrafts deducted from cash and cash equivalents as per the statement of financial position to give cash as per the statement of cash flows (printed negative; 2025 a dash: overdrafts are financing cash flows from 2025).
  69. Printed under different labels across filings: “Bank overdraft”; “Bank overdrafts1”.
  70. “Interest in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 4.5 (Company columns; nil for the Group).
  71. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Interest in subsidiaries' asset line for 2025; it prints no such line (a company-only item in the 2024 filing). Text layer.
  72. “Non-current asset held for sale” is an issuer-specific line, not mapped to a shared definition: Note 4.6.
  73. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Non-current asset held for sale' asset line for 2025; it prints no held-for-sale line. Text layer.
  74. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Financial assets at fair value through profit or loss' asset line for 2025; it prints 'Investments' with 'Equities and similar securities', 'Interest-bearing investments', 'Investment funds' and 'Deposits and similar securities'. Text layer.
  75. “Bonds” is an issuer-specific line, not mapped to a shared definition: Note 4.1: within financial assets at fair value through profit or loss.
  76. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Bonds' asset line for 2025; it prints 'Interest-bearing investments'. Text layer.
  77. “Investment in property funds and companies” is an issuer-specific line, not mapped to a shared definition: Note 4.4: within financial assets at fair value through profit or loss.
  78. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Investment in property funds and companies' asset line for 2025; it prints 'Investment property' and 'Investments in associated companies and joint ventures'. Text layer.
  79. “Money market instruments” is an issuer-specific line, not mapped to a shared definition: Note 4.1: within financial assets at fair value through profit or loss.
  80. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Money market instruments' asset line for 2025; it prints 'Deposits and similar securities'. Text layer.
  81. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Tax receivable' asset line for 2025; it prints only 'Taxation' under liabilities. Text layer.
  82. “Related party balances” is an issuer-specific line, not mapped to a shared definition: Note 22.1 (Company columns; nil for the Group).
  83. Not reported in this filing: Not printed: the group statement of financial position (p120; this filing presents group statements only) has no 'Related party balances (asset)' asset line for 2025; it prints 'Related party balances' under liabilities only. Text layer.

Cash flow

Cash flow, BWP thousands. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), as reported for the year; FY2023 — annual report (final status not established), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportreported for the yearsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Cash flow from/(used in) operating activities1 216,541 (3,276)2 (458,823)
Cash (utilised in)/generated from operations3 (147,128) 73,3954 39,389
Interest and investment income received5 501,390 Not reported in this filing76 Not reported in this filing7
Interest paid8 (1,725) (709) (762)
Dividends received from equity investments910 128,222 54,061 56,851
Dividends received from associates and joint ventures1112 103,122 58,031 144,928
Dividends paid13 (264,930) (518,465) (760,177)
Income taxes paid14 (102,410) (126,679) (228,350)
Cash flows used in investing activities15 (14,430) (10,662) 235,145
Payments made for the acquisition of equipment16 (9,724) (8,211) (8,953)
Payments made for the acquisition of other intangible assets17 (4,706) (2,451) (5,902)
Cash flows from/(used in) financing activities18 138,411 (6,434) (6,450)
Lease liabilities repaid19 (4,683) (6,434) (6,450)
Proceeds from bank overdraft220 1,275,469 Not reported in this filing2221 Not reported in this filing22
Repayment of bank overdraft23 (1,132,375) Not reported in this filing2421 Not reported in this filing24
Net increase in cash and cash equivalents25 340,522 (20,372)26 (230,128)
Cash and cash equivalents at the beginning of the year227 464,011 170,58328 400,711
Cash and cash equivalents at the end of the year29 804,533 150,21130 170,583
Interest received Not reported in this filing31 457,090 289,298
Dividend received from subsidiaries32 Not reported in this filing33 –34 –34
associates35 Not reported in this filing36 –37 250,000
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (35)
  1. Printed under different labels across filings: “Cash flow from/(used in) operating activities”; “Cash utilised in operations”.
  2. Annual report dated 2026-05-22 prints 127 355 (thousands, p124) for this line and year.
  3. Printed under different labels across filings: “Cash (utilised in)/generated from operations”; “Cash generated from operations”.
  4. Annual report dated 2026-05-22 prints 204 026 (thousands, p124) for this line and year.
  5. “Interest and investment income received” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  6. Annual report dated 2026-05-22 presents this line for this year: 457 090 (p124). Not shown in this column, which follows one filing's presentation.
  7. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Interest received' (p112), shown in the row 'Interest received'.
  8. “Interest paid”: mapping to a shared definition is uncertain. Printed 'Interest paid'; equal to the finance cost on leases in the income statement (1 725; 2024: 709), the only finance cost printed.
  9. “Dividends received from equity investments” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  10. Printed under different labels across filings: “Dividends received from equity investments”; “investments”.
  11. “Dividends received from associates and joint ventures” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  12. Printed under different labels across filings: “Dividends received from associates and joint ventures”; “joint ventures”.
  13. Printed under different labels across filings: “Dividend paid”; “Dividends paid”.
  14. Printed under different labels across filings: “Income taxes paid”; “Tax paid”.
  15. Printed under different labels across filings: “Cash flows used in investing activities”; “from investing activities”.
  16. Printed under different labels across filings: “Payments made for the acquisition of equipment”; “Purchase of property and equipment”.
  17. Printed under different labels across filings: “Payments made for the acquisition of other intangible assets”; “Purchase of computer software”.
  18. Printed under different labels across filings: “Cash flows from/(used in) financing activities”; “activities”.
  19. Printed under different labels across filings: “Lease liabilities repaid”; “liabilities (IFRS 16)”.
  20. “Proceeds from bank overdraft2” is an issuer-specific line, not mapped to a shared definition: Financing activities (footnote 2: overdrafts treated as borrowings from 2025).
  21. Annual report dated 2026-05-22 presents this line for this year: – (p124). Not shown in this column, which follows one filing's presentation.
  22. Not reported in this filing: Not printed: the statement of cash flows (p112) has no 'Proceeds from bank overdraft' line; its financing section prints only 'Payment of principal portion of lease liabilities (IFRS 16)'. In this filing the bank overdraft is part of cash and cash equivalents (note 24.1, p208). Text layer.
  23. “Repayment of bank overdraft” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  24. Not reported in this filing: Not printed: the statement of cash flows (p112) has no 'Repayment of bank overdraft' line; its financing section prints only 'Payment of principal portion of lease liabilities (IFRS 16)'. In this filing the bank overdraft is part of cash and cash equivalents (note 24.1, p208). Text layer.
  25. Printed under different labels across filings: “Net increase in cash and cash equivalents”; “cash equivalents”.
  26. Annual report dated 2026-05-22 prints 110 259 (thousands, p124) for this line and year.
  27. Printed under different labels across filings: “Cash and cash equivalents at the beginning of the year2”; “beginning of the year”.
  28. Annual report dated 2026-05-22 prints 353 752 (thousands, p124) for this line and year.
  29. Printed under different labels across filings: “Cash and cash equivalents at the end of the year”; “of the year”.
  30. Annual report dated 2026-05-22 prints 464 011 (thousands, p124) for this line and year.
  31. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Interest and investment income received' (p124), shown in the row 'Interest and investment income received'.
  32. “Dividend received from subsidiaries” is an issuer-specific line, not mapped to a shared definition: Operating activities (Company columns; nil for the Group).
  33. Not reported in this filing: Not printed: the group statement of cash flows (p124) has no 'Dividend received from subsidiaries' line for 2025 (the 2025 filing presents group statements only). Text layer.
  34. “associates” is an issuer-specific line, not mapped to a shared definition: Note 4.6: investing activities.
  35. Not reported in this filing: Not printed: the group statement of cash flows (p124) has no 'Proceeds from sale of investment in associates' line for 2025 (the 2025 filing presents group statements only). Text layer.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), as reported for the year; FY2023 — annual report (final status not established), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportreported for the yearsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Earnings / (loss) per share (per share)51 1.152 (0.38)3 2.744
Profit / (loss) attributable to shareholders (BWP thousands)76 326,411 (106,134) 775,299
  1. Printed as 115 thebe; value converted to BWP at 100 thebe = 1 BWP.
  2. Printed as (38) thebe; value converted to BWP at 100 thebe = 1 BWP.
  3. Printed as 274 thebe; value converted to BWP at 100 thebe = 1 BWP.
Notes and alternative reported figures (4)
  1. “– basic”: mapping to a shared definition is uncertain. Basic earnings/(loss) per share in thebe; diluted is printed separately and differs (114; 2024: (37)).
  2. Earnings / (loss) per share: printed as “– basic”.
  3. Printed under different labels across filings: “Shareholders’ fund”; “– Equity holders of the parent”.
  4. Profit / (loss) attributable to shareholders: printed as “Shareholders’ fund”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid (264,930) BWP thousands Annual report, p124
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (518,465) BWP thousands Annual report, p112
31 Dec 2023 Dividends paid (cash flow statement) Dividend paid (760,177) BWP thousands Annual report, p112

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • BIHL Group Integrated Annual Report 2025

    Year ended 31 December 2025 · Annual report · final status not established

    Audit: PricewaterhouseCoopers (Firm of Certified Auditors), Gaborone, unmodified opinion

    Auditor's sign-off: Rudi Binedell (CAP003 2026), Practicing Member, for PricewaterhouseCoopers (typeset name)

    Final status: The independent auditor's report to the shareholders (opinion PDF p114) closes with the typeset 'PricewaterhouseCoopers, Firm of Certified Auditors, Practicing Member: Rudi Binedell (CAP003 2026), 22 May 2026, Gaborone' and no visible signature (PDF p119, page image). The statement of responsibility of the board says the annual financial statements on pages 120 to 239 were authorised for issue on 21 May 2026 and signed on the board's behalf by Dr Keith Jefferis (Group Chairman) and Catherine Lesetedi (Group Chief Executive Officer), whose names are typeset with no visible signature (PDF p110, page image). The auditor's report also says its opinion was issued on a separate document titled 'Botswana Insurance Holdings Limited Annual Consolidated and Separate Financial Statements for the year ended 31 December 2025' and treats this Integrated Annual Report as other information.

    Document date
    22 May 2026
    Auditor's report
    22 May 2026
    Board approval
    21 May 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025
    Basis
    consolidated statements · BWP thousands (printed “P'000”)
    • Cash flow statement prints each section total before its components; dividends paid are within operating activities. From 2025 bank overdrafts are treated as borrowings (footnote 2, p124): the 2025 opening cash (464 011) is the 2024 closing cash net of the 60 232 overdraft, so it differs from the balance-sheet cash of 524 243. The 2025 closing cash (804 533, p124) equals the balance-sheet cash and cash equivalents (804 533, p120) and does not deduct the 148 206 overdraft, so the importer's inferred check 'cash at end = cash less bank overdraft' would fail for 2025 by 148 206. Note 28.2 (p196) reconciles both years: 2025 cash as per the statement of financial position 804 533 with bank overdrafts '–' equals cash as per the statement of cash flows 804 533; 2024 524 243 less (60 232) equals 464 011. The filing's cash_definition declares this (plus the note 28.2 overdraft line). Figures are kept as printed.
    • Every 2024 column of the primary statements is headed 'Restated' (note 31: restatements and re-presentations); all comparative values are marked restated. The balance sheet also prints a restated 1 January 2024 column, not transcribed (p120).
    • No other-comprehensive-income total is printed: two OCI lines run straight to total comprehensive income; the 2024 'Movement in other comprehensive income' is a dash (p121).
    • Unclassified IFRS 17 balance sheet with printed subtotals 'Investments' and 'Working capital assets'/'Working capital liabilities' (p120). The income statement nests insurance-service and insurance-investment results inside 'Result from insurance operations' (boxes on the page image, p121).
    • Earnings/(loss) per share is printed in thebe: basic 115 (2024: (38)), diluted 114 (2024: (37)) (p121). Stored in pula with the printed figure and unit kept.
    Technical details
    File
    250 pages, with a text layer
    SHA-256
    86a86f5c8bc5a12b40bc668daf687ec612756e4af6c04efa428ccd254eb29caf
    Entity as printed
    Botswana Insurance Holdings Limited (the Company) and its subsidiaries (together the Group)
    Exchange copy
    retrieved 2026-10-08T18:13:40Z

  • BIHL Group Integrated Annual Report 2024

    Year ended 31 December 2024 · Annual report · final status not established

    Audit: PricewaterhouseCoopers (Firm of Certified Auditors), Gaborone, unmodified opinion

    Auditor's sign-off: Rudi Binedell (CAP003 2024), Practising Member, for PricewaterhouseCoopers (typeset name)

    Final status: The independent auditor's report to the shareholders (unmodified opinion PDF p104) closes with the typeset 'PricewaterhouseCoopers, Firm of Certified Auditors, Practising Member: Rudi Binedell (CAP003 2024), 7 April 2025, Gaborone' and no visible signature (PDF p107, page image). The statement of responsibility of the board says the annual financial statements on pages 108 to 231 were authorised for issue on 4 April 2025 and signed on its behalf by Dr Keith Jefferis (Group Chairman) and Catherine Lesetedi (Group Chief Executive Officer), names typeset with no visible signature (PDF p101, page image). The auditor's 'Other information' paragraph says the report was obtained on a separate document titled 'Botswana Insurance Holdings Limited Annual Consolidated and Separate Financial Statements for the year ended 31 December 2024' and treats this Integrated Annual Report as other information (p107).

    Document date
    7 Apr 2025
    Auditor's report
    7 Apr 2025
    Board approval
    4 Apr 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2024, FY2023
    Basis
    consolidated statements · BWP thousands (printed “P'000”)
    • Cash flow statement (p112, right half) prints each section total before its components; dividends paid are within operating activities; closing cash 150 211 equals balance-sheet cash 210 443 less the bank overdraft 60 232 (p108-109). Money market instruments are policyholder assets whose cash flows are in investing activities (p112).
    • Unclassified IFRS 17 balance sheet without a total-liabilities line; the income statement nests the insurance service and investment service results inside 'Net result from life insurance operations', and 'Other expenses' includes the finance cost on leases (p110). The FY2025 report re-presents these 2024 figures (note 31 there), so several lines and subtotals differ from the FY2025 spec.
    • The 2023 columns of the statements of financial position and profit or loss are headed 'Restated1' ('Restated for the correction of an error in the prior period. Refer to note 28'); the statement of comprehensive income heads 2023 'Restated'; the statement of cash flows does not. The balance sheet also prints a restated 1 January 2023 column, not transcribed (p108-109).
    • Earnings/(loss) per share is printed in thebe: basic (38) (2023: 274), diluted (37) (2023: 272) (p111). Stored in pula with the printed figure and unit kept.
    Technical details
    File
    241 pages, with a text layer
    SHA-256
    d2f24fdfabec39a033ae3a3de9dc1296e52cc2b6141c3244c71b9e89f1ff588d
    Entity as printed
    Botswana Insurance Holdings Limited (the Company) and its subsidiaries (together the Group)
    Exchange copy
    retrieved 2026-10-08T18:16:26Z

Data notes

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Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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