NBFIRA weighs options after defeat in P400m battle

Friday, April 27, 2018

Peter Collins and Oaitse Ramasedi.PIC: MORERI SEJAKGOMO

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is reviewing the High Court’s dismissal of its bid to place Capital Management Botswana (CMB) under statutory management, with a view to possibly appealing.

BusinessWeek has established that NBFIRA is aiming to secure the establishment of a precedent in the matter, which revolves around P422 million fought over between CMB and the Botswana Public Officers Pension Fund (BPOPF).

The BPOPF and the CMB, an asset manager, are involved in a bitter dispute over the funds which the pension fund handed over between 2014 and 2017 for private equity placement.

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NBFIRA weighs options after defeat in P400m battle

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is reviewing the High Court’s dismissal of its bid to place Capital Management Botswana (CMB) under statutory management, with a view to possibly appealing.