Bifm to downscale Zambian stake to fit new statute

This, according to outgoing Bifm CEO Victor Senye, will be done to comply with new legislation in Zambia that requires all asset management companies in the country to be at least 51 percent owned by Zambian citizens.

Speaking at the presentation of the results of parent company BIHL in Gaborone this week, Senye said they were in the process of identifying potential buyers of the stake and that priority would be given to current shareholders.