BPOPF shakes up capital markets :: Mmegi Online

In a development that is set to shake up the status quo in the local capital markets, the Botswana Public Officers Pension Fund (BPOPF) has ushered in a new set of guidelines inclined to bolster citizen empowerment among local fund managers who handle the Fund’s P55 billion worth of assets.

In a pioneering and valiant bid to see more Batswana owning more shares in fund management businesses as well as more citizen managers in such firms, the BPOPF will from next year only hand new mandates to managers that have a 25% citizen shareholding, 50% local representation on the board and 70% citizen participation in executive management.

In addition, the BPOPF will also fund start-up asset management companies owned by Batswana to the tune of P500 million as seed capital in a bid to see more citizens venture into the lucrative investment management business.

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