Fleming probes BPOPF contract termination

Fleming Bulding.PIC: MORERI SEJAKGOMO
Fleming Bulding.PIC: MORERI SEJAKGOMO

Fleming Asset Management Botswana has instituted investigation into events surrounding Friday’s termination of a lucrative Botswana Public Officers Pension Fund (BPOPF) management contract estimated to be worth around P4 billion.

The BPOPF shook the markets last Friday when it issued a statement announcing an immediate termination of all contracts it had with Fleming Asset management. Fleming managed equities, bonds and properties on behalf of BPOPF.

 Although speculation is rife that the termination was based on the financial impropriety allegations that were made against a top Fleming Asset Management Botswana official, the company’s board chairman, Charles Tibone has said there could be confusion around what transpired hence they have instituted an investigation.

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