BPOPF buys 20% of Puma Energy for P300m
Friday, September 25, 2015
Puma Energy
Sitting on an asset base of P51 billion, BPOPF has 35 percent of its funds invested in Botswana through equities, bonds, property and private equity.
Speaking to BusinessWeek on the sidelines of the launch of the fund’s whistle blowing facility in Gaborone this week, CEO Boitumelo Molefe confirmed that the transaction has been wrapped up following a decision by the board to acquire shareholding in the oil company.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...