Fresh twist in P400m row: Statutory manager locked out

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) recently appointed Collins as the statutory manager for CMB, a local asset manager which holds the mandate for disputed funds estimated at P400 million on behalf of the Botswana Public Officers Pension Fund (BPOPF).

The souring of relations between BPOPF and CMB last year, amidst complaints by the pension fund, triggered legal suits between the two that saw NBFIRA’s engagement in the matter through the placement of CMB under statutory management in January.