African Alliance Gives Investors Access To Global Markets

Pauline Dikuelo | Monday November 9, 2015 12:34

The company’s Chief Executive Officer, Don Gaetsaloe revealed the latest developments recently at the chairman’s dinner.

According to Gaetsaloe, the fund was approved for inward marketing by Non–Bank Financial Services Regulatory Authority of Botswana  (NBIFIRA) and is currently 10% above its benchmark.

He added that over the past three months, their funds have consistently performed.

“The company has also developed its capacity within the private equity space and we will be looking to further develop this capability on the ground as the business develops traction,” he said.

Gaetsaloe also noted that their 17 years of existence in Botswana is worth celebrating as it indicated the number of years their business has developed the trust of the nation, large and small investors as well as the trust of all market participants.

African Alliance Board chairman, Tally Tshekiso said the introduction of the fund is a testimony of their commitment to continue deepening the skills and financial solutions in the market.

“We will continue to be pioneers in the private equity space and we are confident that the initiatives we have will bear fruit.

We will create more jobs and complement the returns from listed investments,” said Tshekiso.

However, Tshekiso added that the development of the Private Equity must be credited to the visionary leadership at the Botswana Public Officers Pension Fund (BPOPF) for having the courage to develop a framework for Private Equity in the country.

“This will create impetus for other funds to follow and we are ready to partner with other companies in this regard.”

Botswana office was incorporated in 1997. In 2001, they successfully listed micro provident Letshego with a loan book of P100 million, which now boasts a market cap of P6.5 billion. Three years later, they acquired a stake in a private company and creating over P1 billion wealth in the process.

In 2010, the company was recapitalised in an exercise that raised P10 million from both existing shareholders and incoming citizen shareholders. The proceeds were invested entirely in the new business.

Today, the company employs 20 professionals in; investment management, client servicing and investment administration.