When it comes to using corporate leadership for socio-economic change, Catherine Lesetedi is a pacesetter in Botswana’s insurance and financial services industry.
As a young girl, Catherine survived a polio attack to grow into a determined and resilient woman who exhibits extraordinary confidence, traits that she credits to her dad’s parenting style.
Since March 2016, she has been the Group CEO of Botswana Insurance Holdings Limited (BIHL Group), Botswana’s leading financial services provider.
Listed in the Botswana Stock Exchange, BIHL Group is majority-owned (58%) by SanlamAllianz, the largest non-banking financial entity in Africa with over 80 businesses in 27 African countries.
As Group CEO, Catherine oversees BIHL’s three subsidiaries, namely;
- Botswana Insurance Fund Management – an asset management firm with a portfolio of about US$ 1.8 billion across equity, fixed income, real estate, liquidity, and alternative investments.
- Botswana Life Insurance Limited – the biggest life insurer in Botswana, commanding over 80% of its market.
- Legal Guard – Botswana’s leading legal expenses insurer.
Catherine also represents the group on the board of Letshego Holdings Limited, a pan-African microfinance company whose 27.4% stake is held by BIHL Group.
Catherine is crafting a legacy of career success and leadership in Africa’s business circles.
In her words, the power of determination, passion, and belief in oneself has been the driving force behind her legacy. A legacy, not only for her but also for many other women around Africa and the world at large.
However, when she recalls her journey, her most inspiring memories are those moments when she inspired or mentored the younger generation of business leaders.
“Nothing is more fulfilling than when people come to me with words like; ‘Thank you; because of what you said two years ago, I’ve been able to grow and achieve this position at work’.
Catherine Lesetedi
I often ask myself, ‘What can I do to benefit others, mostly youth?’. I’m passionate about lifting our youth up and being a contributor to their journey. They are, after all, our future.”
Early life, education and career
Born in Botswana, Lesetedi was raised by a single dad, who taught her resilience and determination from a young age.
At university, she had intentions of following in his brother’s footsteps and studying Public Administration and Political Science.
However, at the Education Ministry’s Department of Student Placement, she was informed that the course was not on offer and advised to do a Bachelor’s degree in Statistics and Demography.
Pursuing Statistics at the University of Botswana prepared her for a career in the insurance industry.
BIHL has played home, quite satisfactorily, to Lesetedi’s long and illustrious corporate career.
She joined the group in 1992 rising through the ranks to Assistant Manager in 1998 and Divisional Manager in 2000 before crossing to BIHL competitor, AON (Minet) in 2004 as General Manager.
She would return to BIHL Group in 2006 as Head of Corporate and High-Value Broker Business at Botswana Life Insurance where she rose to be the subsidiary’s CEO in 2010. In 2016, she was appointed the Group CEO of BIHL.
Her role as the Group CEO is remarkable since she is only the second woman Group CEO and also the longest-serving.
Her other academic accolades include; Advanced Insurance Practice from the University of South Africa (UNISA), Business, Management & Development (MDP) from the University of Cape Town Graduate School of Business, Leadership Certification from Cornell University, and HISC from the Insurance Institute of South Africa.
Her leadership inspiration comes from her love of reading books and women leaders in magazines.
She acknowledges magazines such as Femina and Cosmopolitan that inspired her to take more space in the corporate world and empower other women.
While many view the insurance industry as a numbers field, she views it as a field to empower and inspire people from every part of the world.
Even though Botswana’s insurance industry is still male-dominated, Catherine Lesetedi is one of the female leaders who have paved a path to the top of the industry, for younger women to follow.
As one of the few women in the industry, she has faced a few challenges that include being undermined by other male counterparts and having to work extra hard to prove herself.
Her incredible work is seen through her efforts in ensuring BIHL blooms.
When she took the role as the GCEO in 2016, BIHL Group was the fifth largest company by market capitalization. Today, it is the second largest.
