Continental Reinsurance Holdings is set to make history on the Botswana Stock Exchange with the country’s first initial public offering in almost a decade, seeking to raise about $155 million as it positions itself to capture opportunities in Africa’s significantly underinsured markets, as reported by Bloomberg and MoneyWeb. The pan African reinsurer’s public offer, which opened in August, comprises approximately 2.13 billion pula, with about $30 million going directly to the company as fresh capital while the remainder will allow existing shareholders to reduce their holdings. The transaction would mark Botswana’s first IPO since 2017.
Continental Re plans to deploy the new capital toward increasing underwriting capacity, expanding its core reinsurance business, developing alternative risk solutions and strengthening its digital, data and analytical capabilities. Managing Director Lawrence Nazare said Africa remains materially underinsured relative to its population, economic activity, infrastructure requirements and risk exposure, creating significant room for the company to expand its business across the continent.
The company has built a pan African footprint spanning more than 50 countries through six regional hubs in Lagos, Nairobi, Gaborone, Douala, Abidjan and Tunis. Continental Re reported gross written premiums of $165.6 million in 2025, up 5.5% year on year, while profit before tax increased by more than 50% to $9.7 million and its combined ratio improved to 92% from 94% in 2024. The group’s operations cover property and engineering, casualty and liability, marine and aviation, energy and political risks, agriculture and life insurance.
The planned listing could provide a significant boost to Botswana’s capital markets while giving investors access to one of Africa’s established independent reinsurance businesses. The public offer is scheduled to close on September 16, with Continental Re expected to list on the BSE on October 5, subject to completion of the transaction. The company is seeking a 100% public float, with shares offered at 1 pula each and a minimum application of 200 shares.
