FNB Botswana launches Mogwebi Business Insurance

First National Bank of Botswana has launched Mogwebi Business Insurance, underwritten by Old Mutual. Mogwebi Business Insurance is suited to all small and medium sized businesses, with special emphasis placed on those in the professional, manufacturing, retail, food and beverage service industry. Mogwebi Business Insurance was developed with the knowledge that every business needs financial protection against business associated risks in order to maintain business continuity.

Some SMME businesses still consider insurance more of a cost than a necessity; this also stems from the myth that insurance is expensive. FNB is focused on changing this perception not only by educating entrepreneurs about the importance of insurance but also by presenting them with the right covers that match their needs. Head of Business Banking, Petrus Sebina, said, “We are pleased to bring this product to the market.

We are always striving to ensure that we are able to help SMMEs to grow, and we are confident that this product will add value to those who want to mitigate risk for their business.” Mogwebi Business Insurance will come at a fixed price with fixed cover, and covers the risk of fire, theft, electronic equipment, glass, money, goods in transit and business interruption, workman’s compensation and public liability with the extension of product liability. There is also an option to add four of the commercial vehicle types, including specified cars, motorcycles, commercial vehicles and trailers