BPOPF-backed fund buys Lobatse Clay Works

CMB is adding Lobatse Clay Works to its list of aquisition
CMB is adding Lobatse Clay Works to its list of aquisition

A private equity fund backed by the cash-flush Botswana Public Officers Pension Fund (BPOPF) in close to buying Lobatse Clay Works (LCW) from the Botswana Development Corporation (BDC).

As BDC continues to divest some of its subsidiaries, BusinessWeek has learnt that the Botswana Opportunities Partnership (BOP), a private equity fund in which the BPOPF has invested P830 million, is buying an 80% stake into the Lobatse-based bricks and pavers manufacturing company.

The deal, which is currently before the Competition Authority for regulatory approval, will be done through BOP’s fund managers, Capital Management Botswana (CMB).

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

Have a Story? Send Us a tip
arrow up