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.

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This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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