BPOPF battles to retrieve P477m from CMB

Friday, December 15, 2017

The Botswana Public Officers Pension Fund (BPOPF) is battling to recover P477 million in assets and cash from Capital Management Botswana (CMB) following the termination of a private equity investments contract between the two parties.

BPOPF is reported to have terminated CMB mandate after investigations revealed that the fund manager flouted agreed investments policies and guidelines.

Industry insiders say the contract was terminated on October 30, 2017 with an order for the fund manager to return all assets, but CMB has not complied with BPOPF’s demands.

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