Pension funds reach P139bn

This growth, as highlighted in the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) 2023–2024 annual report, was primarily driven by improved investment returns influenced by robust equity markets and offshore investments.

The report revealed that nearly all investment asset classes delivered positive returns during the period under review. However, offshore alternative investments and Botswana unlisted equities underperformed, experiencing declines of 20% and 10%, respectively. Notably, the allocation of retirement funds to both local and offshore equities rose significantly by 64%, from P74 billion in 2022 to P88 billion in 2023.