The business exec was born in the Botswana village of Kanye and grew up in Gaborone in a household where she and her brother were socialised as equals.
This gave her a lot of confidence in the fact that hard work and intellectual ability were what determined your altitude in life.
“I think to a large extent women are limited by their own self-doubt, which isn’t of their own doing,” Lulu Rasebotsa says when Drum asks the question that must be asked every Women’s Month, more especially now – a time when we seem to be getting further away from closing the gender gap as a society.
Her response to the question, “In your experience, what are some of the common barriers that inhibit women’s growth to senior and executive levels of leadership?” is telling.
She has been CEO of FMI Insurance, now Bidvest Life, for just under a year and sits comfortably in the seat of chief executive, knowing from personal experience that being a good leader has nothing to do with gender.
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“My mother, Nobantu, has always been a powerful woman who I have looked up to. She got married just after she finished school, but went on to pursue a career in academia, including a PhD, while maintaining a family. This for me is a true demonstration of focus and determination.
The first thing you’ll notice about Lulu is her chic blonde mini-fro and warm smile, accentuated with an elegant touch of fire-engine red lipstick.
The CEO is not your average FSP (financial services provider) chief executive – all business, curt and sticking to a purely monochrome and reserved palate when it comes to style. She’s a force with which to be reckoned, yes, but she’s also fabulous and a people person.
“I have a forum named ‘Convos with Ms Lu’, where I engage with young people and talk about life in general. I share my life experiences and learnings with them, but I also learn a lot from them in the process, as I believe one never stops learning,” she tells Drum.
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Ms Lu, who is the former Liberty Life Botswana MD, has more than a quarter of a century of work experience in FSPs. Now, as CEO of Bidvest Life (formerly FMI Insurance), she has the distinction of being the first woman to lead the insurer since she was appointed FMI chief executive in October 2021.
FMI, which rebranded to Bidvest Life in March, has been operating under Bidvest since 2016. With Lulu at the helm, it’s one of the most diverse companies at a senior and executive management in SA with a C-suite of black female leaders.
The C-Suite is the engine of any company, and as the chief executive, Lulu is steering it. How does it feel to part of a black female-powered engine?
“It’s liberating to know that we can compete based on our intellect and not our gender. It gives the women we lead hope and something to work towards,” she says.
Her values as a leader are also informed by her background, she shares, saying, “I was born in a village called Kanye in Botswana, and grew up in the capital, Gaborone.
“My elder brother and I were socialised as equals. We shared the same chores and were afforded the same opportunities.
“As a result, I was brought up to believe in myself and my parents consistently validated me. I believe this played a key role in shaping the person I am today.”
