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
Watch your tongue Mr President

While his leadership has brought about significant progress and development, it is imperative that he exercises greater caution in his choice of words, particularly when addressing sensitive matters.One of the primary concerns is the potential impact of his remarks on Botswana’s relationship with De Beers, the diamond mining giant that plays a crucial role in the nation’s economy.The partnership between Botswana and De Beers has been mutually...

Have a Story? Send Us a tip
arrow up