Bigwigs lose big in Fleming takeover deal

Mmegi Business has learnt that the shareholders of fund manager, Fleming Asset Management have reportedly accepted a P20 million bid for the company, which is a fifth of an offer price they declined just over year ago before the firm ran into trouble.

Hamstrung by the loss of a P4 billion mandate with Botswana Public Officers Pension Fund (BPOPF) in July last year, Fleming has been knocked down from being one of the oldest and largest asset management companies in the country, losing other key clients and staff in the past eight months.