Find out who Minet Botswana, GEMVAS, LAMVAS and GLIF are and how they all work together to your benefit.
About Minet BotswanaFor more than 70 years, Minet has been a trusted pan-African advisor that meets the uncertainties of tomorrow by delivering integrated and holistic insurance, risk, and human capital solutions today. As Aon’s largest Global Network Correspondent, Minet has access to a network of over 50,000 colleagues in 120 countries as well as to proprietary data, research and analytics which enable us to manage and secure the risks of tomorrow and provide clients with an unrivalled advantage.
Minet Botswana has been operating in Botswana since 1975, as Aon Botswana since 2001, and Associated Brokers (AIB.) prior to that. Following the regulatory approval for Aon Botswana to sell its issued Shared Capital to Minet Botswana we are pleased to report a splendid story of the changed shareholding structure of our organisation.
Minet is the preferred choice in risk management solutions based on our proven ability to crystallise business risks and effectively manage these to support the progress of your organisation. We offer short-term insurance and risk consultancy services which enable organisations to retain or transfer risk exposures, long-term insurance consultancy, retirement counselling, loan & welfare scheme administration and retirement administration services to assist organisations in managing the healthcare and retirement funding needs of their employees. In addition, we also provide a wide range of risk management services as well as asset valuations for insurance requirements, project funding, financial reporting, mergers, and acquisitions.
Risk advisory, risk transfer and structured solutions to optimise risk exposure management.
Claims advocacy, risk transfer and capital management solutions to minimise risk for (re) insurers.
Consulting and solutions to mitigate rising costs and improve employee health and well-being.
About GLIFThe Guaranteed Loans Insurance Fund (GLIF) was created under the GLIF Order Instrument No. 43 of 1988.
This insurance policy, which comprises several sections, is a contract of indemnity between the Fund and you as a Policyholder, with respect to financial losses that you may suffer relating to an asset, such as a motor vehicle or house, acquired in terms of a loan advanced under the Government Employees Motor Vehicle and Residential Property Advance Scheme (GEMVAS) and the Local Authorities Motor Vehicle and Residential Property Advance Scheme (LAMVAS).
Currently, more than 8 500 employees from central and local government, land management water and sanitation services and members of parliament, councillors and members of Ntlo ya Dikgosi are covered under GLIF.
About GEMVAS and LAMVASThe Government Employees Motor Vehicle and Residential Property Advance Scheme (GEMVAS) and Local Authorities Motor Vehicle and Residential Property Advance Scheme (LAMVAS) are employee benefit schemes designed to assist central government, local government authorities and land board employees to access loans from commercial banks to acquire motor vehicles and residential properties for domestic use. The schemes are governed by the General Orders and Directives issued from time to time by the Directorate of Public Service Management (DPSM).
GEMVAS was established in 1988 under Section 7 of the General Orders. The Scheme is made possible through the provision of an 80% guarantee by the Government of Botswana to participating lenders.