into savings with the market leader

About us

Aflife, is a lead privately owned wealth management company in Zambia and conducts business, inter alia, as a pension fund manager and administrator registered in terms of the Pension Scheme Regulation Act, 1996. The shares in Aflife Zambia are currently held by Botswana Insurance Fund Management (Bifm) Services (which is registered in the Isle of Man) and Menel Management Services Limited (Menel) a Zambian empowerment consortium (which is registered in Zambia, and all of whose shareholders are Zambian citizens). The shareholders have also arranged to introduce an Employee Share Ownership Scheme.

Bifm is a wholly owned subsidiary of Botswana Insurance Holdings Limited, which in turn is a subsidiary of Sanlam, (a lead regional financial services organization listed on the Johannesburg Stock Exchange South Africa). Botswana Insurance Holdings Limited is listed on the Botswana Stock exchange. BIFM is the oldest and largest wealth management Company in Botswana and has operated in Botswana for over 30 years. The company invests assets well in excess of $2.4 Billion (Two billion and four hundred million United States Dollars) representing more than 150 individual pension funds

Sanlam is listed on the Johannesburg Stock Exchange and has more than $40 billion in assets The group operates in a number of other countries including Namibia.

The company broadly offers two (2) products as shown below:  


  • Asset Management.
  • Employee Benefits Administration & consultancy. 


Our complete range of business services under Asset Management and Employee Benefits Administration & Consultancy include:    


  • Pension Administration.
  • Pension Consultancy.
  • Asset Management.
  • Property Development
  • Private Equity development.
  • Corporate Finance.   


In addition, African Life Financial Services undertakes ‘risk management’ by matching asset allocation, utilizing investment portfolios and through the use of its internal risk management controls to address both systematic and unsystematic risks.

Aflife believes that corporate funds should be invested in a prudent manner and meet the objectives for which they were originally designed. We follow the ‘wider picture’ approach and examine the nature of the objectives of the fund we invest and manage on behalf of clients. This is entrenched in our company values of:   


  • Integrity.
  • Innovation.
  • Service orientation.
  • Teamwork. 


1992 Saturnia Regna Pooled Fund formed
Anglo American Corporation Central Africa Limited (AACCA) created a dedicated division to manage the pooled fund in 1992.

1996 AACCA incorporated a separate wholly owned subsidiary AACCA Management Services Limited (AMSL) to manage Pension Funds.

2000 50 percent of AMSL was sold to BIFM a subsidiary of Botswana Life and a member of the African Life Assurance of South Africa Group.

AMSL name is changed to African Life Financial Services Zambia Limited (Aflife).

2004 AACCA divested from financial services business and BIFM became a 70 % shareholder of Aflife Zambia.

30% of Aflife vested into Menel Management Services a Zambian owned company through an empowerment transaction.

2005 Sanlam takes over control of African Life Assurance South Africa. Aflife becomes a member of the Sanlam Group.

2006 Aflife entered a property development and management joint venture with ERIS (formely RMB Properties) via Sinyuka Property Development and Management Company

2007 Aflife created E - Benefits Zambia (Employee Benefits Zambia Limited) as a dedicated pensions administration and consultancy business.