BPOPF seeks new investment adviser

MBoitumelo Molefe. PIC: BOINGOTLO SEITSHIRO
MBoitumelo Molefe. PIC: BOINGOTLO SEITSHIRO

Botswana’s largest pension fund, the Botswana Public Officers Pension Fund (BPOPF) will this week float a tender for a new investment advisory consultant after cutting ties with Novare Actuaries and Consultants.

South Africa’s Novare was engaged by the Pension Fund four years ago on a two-year contract, which was extended in 2015 after a tendering process. According to BPOPF chief executive officer Boitumelo Molefe, the board has agreed to let go of Novare after their current contract ended in January 2017. “After much discussions with the board, we have agreed that it was the right thing to let go of Novare and re-tender. The advert will come out this week and it is open to both local and external companies,” said Molefe at a press conference yesterday.

She said at the moment, Novare are on a month-by-month extension while they undergo a formal tendering process. The new contract is expected to be awarded by May 31, 2017. BPOPF has over P55 billion in assets with about 60% of them invested offshore.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up