BPOPF in the middle as RDC pursues PrimeTime
Friday, May 31, 2024 | 760 Views |
Landmark: Pilane Crossing is one of PrimeTime’s retail assets
The BPOPF, which is the country’s largest pension fund, held 38.8% of RDC Properties as at December, being the single largest shareholder. The pension fund also held nearly 33% of PrimeTime as at August last year, being the largest shareholder as well.
“The pension fund wields the power in the deal and in fact, will play the role of a kingmaker,” an analyst told BusinessWeek.
When claims of such gravity are made, especially by a sitting Assistant Minister they cannot be brushed aside, delayed, or treated as routine political noise. Even the Ombudsman has confirmed receipt of a report from a political party and a review of these complaints is now underway. That is a necessary first step. But it is only the beginning. The seriousness of the allegations demands urgency, transparency and clarity. The public is entitled to...