BPOPF moves to acquire Bramer Life

Friday, June 05, 2015

Sikalesele- Vaka (red jacket) and Dixon- Warren (right) briefing the media recently. PIC: KENNEDY RAMOKONE

A private equity fund recently set up by the Botswana Public Officers Pension Fund (BPOPF) is reportedly the lead investor in a consortium eyeing to take over the troubled insurance firm, Bramer Life.

Information gathered by BusinessWeek reveals that negotiations are at an advanced stage for new investors to takeover Bramer Life after the insurance business, currently under statutory management, was shaken by a financial scandal at its Mauritian parent company.

The Non-Banking Financial Institution Regulatory Authority (NBIFRA) placed the insurance company under statutory management in April after its majority shareholder BAI Co was accused of being involved in a ‘Ponzi Scheme’.

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