BPOPF hands P1.5bn to start-up fund managers

Molefe says only wholly-owned citizen firms will benefit PIC: TSELE TSEBETSAME
Molefe says only wholly-owned citizen firms will benefit PIC: TSELE TSEBETSAME

The cash-rich Botswana Public Officers Pension Fund (BPOPF) will provide P1.5 billion in seed capital to three wholly citizen owned start-up fund managers in a bid to facilitate the involvement of more Batswana into the lucrative investment management business.

Under its incubation programme, mooted last year, the BPOPF has identified three greenfield companies to be financed from its P55 billion kitty with two involved in private equity while the other will trade in the listed equity space.

Addressing the media in Gaborone this week, the Fund’s chief executive officer, Boitumelo Molefe said the three companies will each get P500 million to be invested only in Botswana.

Editor's Comment
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

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