BPOPF battles to retrieve P477m from CMB

Molefe
Molefe

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.

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...

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