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Hollard Life Botswana’s innovative Karabo Funeral Plan has earned international acclaim at the 2025 Tokio Marine Group Awards, where it was recognised for its significant role in promoting financial inclusion among underserved communities. The award highlights the plan’s impact in making funeral insurance more accessible to Batswana who traditionally face barriers to financial services.
The Karabo Funeral Plan was developed in collaboration with Botswana Telecommunications Corporation (BTC) and its Smega mobile money platform. By removing the need for a traditional bank account, the plan allows users to access funeral cover through a simple USSD code (173#) and pay premiums via mobile wallet. This approach effectively reaches the unbanked and underbanked populations, who are often excluded due to high transaction costs, limited financial infrastructure, and low financial literacy.
The Tokio Marine Group Awards, inspired by the vision “to be a good company,” honour businesses across the globe that demonstrate ethical leadership, innovation, and measurable community impact. Winners are chosen through a thorough peer-review process, and in 2024, 24 initiatives were recognised across 46 countries.
The Karabo Funeral Plan represents a major step forward in ensuring that more Batswana have access to essential financial protection. Our partnership with BTC and the Smega wallet is helping us eliminate the barriers that have historically excluded many from insurance and financial services,stated Jane Tselayakgosi, Group CEO of Hollard Botswana. The plan taps into Botswana’s high mobile phone usage to turn mobile devices into powerful tools for financial access.
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Pravin Kalpagé, CEO of Hollard International, added that their mobile-first approach, already successful in countries like Lesotho, Ghana, and Botswana, is central to expanding insurance coverage across the region. Leveraging trusted digital platforms remains key to reaching more people with solutions that help them manage life’s uncertainties. The Hollard Botswana team will officially receive the award at a ceremony in Tokyo on October 14, 2025.
