BPOPF, CMB talks focus on recoverable P200m
Friday, May 25, 2018
The talks in South Africa come as BPOPF and CMB await a July date at the Court of Appeal (CoA), which could render the arbitration moot as the regulator, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) pushes to take over control of CMB. The pension fund and CMB fell out early last year amidst allegations of impropriety and violations of the November 2014 Botswana Opportunities Partnership (BOP) deal under which BPOPF pumped P477 million into various investments managed by CMB.
Documents from the Court of Appeal indicate that CMB has agreed to give BPOPF 30 days written notice if it intends to “trade in or otherwise deal with” with the shares held in Wilderness and Cell City.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...