Mmegi

Pension funds beat NBFIRA target

Leading the market: Botswana Public Officers Pension Fund CEO, Moemedi Malindah. The BPOPF is the country's largest pension fund
Leading the market: Botswana Public Officers Pension Fund CEO, Moemedi Malindah. The BPOPF is the country's largest pension fund

The country’s pension funds held 42.6% of their assets domestically as at November, or P64.4 billion, comfortably above NBFIRA's target of 41%, central bank data shows.

Bank of Botswana (BoB) figures show that by November, the pension funds held total assets of P151.3 billion.

Under the updated Non-Bank Financial Institutions Regulatory Authority (NBFIRA) Pension Fund Rules, local pension funds are required to gradually increase the proportion of domestic assets to 50% in the years to December 2027. The target for December 2024 was 41% and will move to 44% by December 2025.

Editor's Comment
A promising step for public schools, but...

For too long, the state of many public schools has been a source of shame. We have all seen the pictures and heard the stories of broken windows, unreliable water and electricity, topped by classrooms that are not fit for proper learning. The establishment of the Education Infrastructure and Management Company Ltd (EIMC) signals that authorities are finally ready to take this problem seriously. We must commend the government for this initiative....

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