Botswana Funeral Scheme (BOFUS)
Staff writer | Tuesday August 20, 2024 14:52
The Botswana Funeral Scheme (BOFUS) has in partnered with Metropolitan Life Botswan to erect a one-stop retail and office complex in the Palapye.
The structure is a shopping mall that would also have offices to be used by BOSETU subsidiaries and also to be available on lease basis to private commercial entities. BOFUS acquired the plot in Palapye in 2015 and a decade later the funeral scheme, alongside its strategic partners have launched the commencement of the development of the plot into a retail and office complex.
Speaking at the building construction launch held on Thursday (August 15, 2024), BOFUS Chairperson, Moeti Mooketsi, said the funeral scheme, despite its remarkable footprints in the market since its inception in 1998, is not totally insulated from the business risks hence the need to make sustainable investments.
Mooketsi said in an effort to curb the risks, among others in 2018 BOFUS to underwrite the scheme to ensure continued stability and reliability of the benefits offered. Two years later, in partnership with Metropolitan Life Botswana, BOFUS reaffirmed the security and sustainability of the scheme.
He further said BOFUS has evolved far beyond just being a group funeral scheme and strategically expanded its portfolio by investing in various enterprises. These enterprises include, Thusanyo Funeral Parlour, BiB Insurance Brokers and a micro-lender, PEUBO Investments.
“Today I am pleased to share yet another significant milestone that BOFUS has achieved, that is property ownership. This property will not only serve as retail and office space but will also host BOSETU and its associated entities,” said Moeti.
He also reaffirmed BOFUS’ commitment to uphold the value of service excellence and empathy in their daily operations. For her part, Metropolitan Life Botswana’s Chief Executive Officer, Boitumelo Mogopa, revealed the excitement of venturing into the project with BOFUS as she said the two entities have aligned strategies to change and better the lives of Batswana. BOSETU President, Winston Radikolo, lauded BOFUS’ efforts in aiding to grow and build a sustainable union. He said the BOFUS leadership had an impressive job in the hunt of reliable strategy partnership as BOSETU, through its subsidiaries, eye sustainability alongside business expansion and membership growth.
“We have come to you (strategic partners) because you dove tail well with our objectives. We do not take these partnerships lightly because we believe this partnerships should assist to build sustainability. We want to believe that there will be shared resources, shared capabilities and would also help us to mitigate against the risks that we might encounter in the long run. I want to believe that with our combined strength, we will create value for our members and surely we will expand and grow and surely enter new markets in terms of innovation and product development,” said Radikolo.