BPOPF terminates P3.9bn Kgori contract

Thursday, December 21, 2017

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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BPOPF terminates P3.9bn Kgori contract

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.