BPOPF terminates P3.9bn Kgori contract

In the news: Seretse's arrest has ability affected a leading light of citizen empowerment in capital markets
In the news: Seretse's arrest has ability affected a leading light of citizen empowerment in capital markets

The Botswana Public Officers Pension Fund (BPOPF) has terminated a P3.9 billion contract with Kgori Capital following the charging of the asset management company’s former managing director, Bakang Seretse with money laundering.

Kgori was thrown into the spotlight recently when Seretse appeared before the court on money laundering charges before he was later released on bail. Seretse has since resigned from the company.

Mmegi Business has gathered that Tuesday’s board meeting unanimously endorsed last week’s recommendation by the Investment and Risk committees that the contract, which comprises management of listed equities, fixed income and cash, be terminated.

Editor's Comment
Shame on the Police!

According to a press statement from the police, unidentified armed men attacked on duty police officers at the station in the early hours of Tuesday.During the attack, the suspects stole 14 riffles, five pistols and an undisclosed number of ammunition.Although unconfirmed, it is alleged that the suspects were just carrying knives and axes, which they used to scare the men and women in uniform before they took them hostage to help themselves to...

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