NBIFRA left clutching air in P400m row

NBFIRA, responding in part to complaints by the Botswana Public Officers Pension Fund (BPOPF) over a P400 million dispute with CMB, last Wednesday placed the private equity firm under statutory management and appointed veteran attorney and former High Court judge, Peter Collins as statutory manager. The statutory order included the freezing of CMB’s accounts and takeover of all affairs.

CMB, which at some point managed P477 million of BPOPF funds, successfully challenged the move last Thursday before Justice Omphemetse Motumise at the High Court.