CA approves Fleming takeover

Impaired by the loss of a P4 billion mandate with Botswana Public Officers Pension Fund (BPOPF) in July last year, Fleming has been knocked down from being one of the oldest and largest asset management companies in the country, losing other key clients and staff in the past eight months.

In a statement released this week, the CA said it had unconditionally approved the proposed acquisition as an analysis of the facts of the merger showed that the deal is not likely to result in the prevention or substantial lessening of competition in the market.
 “The market structure in the provision of institutional fund management and occasional wealth management of high net worth individuals will not be altered and as such does not raise any competition  concerns,” said the competition watchdog.