CONTINENTAL RE OPENS $156M PUBLIC OFFER IN BOTSWANA

Continental Reinsurance Holdings Limited has launched a $156.1m public offer on the Botswana Stock Exchange to raise capital for expansion and provide an opportunity for retail and institutional investors to acquire shares in the pan-African reinsurer.

The offer, which opened on August 5, comprises $126.1m from the sale of existing shares and $30m in fresh capital for the company.

Continental Re said the new capital would be used to strengthen its underwriting capacity, support its financial position, expand its Alternative Solutions business and invest in technology and other operational capabilities across Africa.

The company provides reinsurance services to insurers in more than 50 African countries through regional hubs in Gaborone, Lagos, Nairobi, Douala, Abidjan and Tunis. It has more than 900 relationships with insurers, brokers and other counterparties across several insurance segments, including property, casualty, marine, aviation, energy, agriculture and life insurance.

The public offer represents the first time a reinsurer is seeking a listing on the Botswana Stock Exchange. The company said the listing would also deepen Botswana’s role as a financial services hub.

Continental Re reported insurance revenue of BWP2.32bn ($173.1m) and gross written premiums of BWP2.27bn ($165.6m) for 2025. Profit before tax stood at BWP105.3m ($9.7m), representing an increase of more than 50 per cent from the previous year.

Shares are being offered at BWP1 each, with a minimum application of 200 shares. Following a revised timetable, the public offer is scheduled to close on October 9, with the company expected to list on the Botswana Stock Exchange on October 29, 2026.