mmegi

Repatriation of offshore pension billions begins

Friday, August 25, 2023 | 1090 Views |

Shot in the arm: The new rules are expected to provide additional capital for local infrastructure

NBFIRA has kick-started new investment rules that will require local pension funds to keep a minimum of 50% of their assets in the country, a figure that by May meant the repatriation of P16.8 billion.

Known formally as the Pension Fund Rule 2 or PFR 2, the NBFIRA (Non-Bank Financial Institutions Regulatory Authority) statute previously required pension funds to invest at least 30% of their assets locally.

Under changes to the Retirement Funds Act, local pension funds will be required to invest a minimum of 50% domestically, a figure that as at May meant that P16.8 billion would have to be repatriated.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Advancing social justice and decent work in Africa: A blueprint for change

FANFAN RWANYINDO KAYIRANGWA* | 2d ago

Staying safe amidst the electoral frenzy as journalists brace for October election

Thomas Nkhoma | 2d ago

Cultures Spears makes waves in the SA market

Lesedi Mkhutshwa | 2d ago

Sephobe for Miss Royal International Florida

Nnasaretha Kgamanyane | 2d ago

Threads of broken bonds

Henny Maruapula | 2d ago

Teen carves promising artistic path

Nnasaretha Kgamanyane | 2d ago

Mapantsola invade Ramokgonami

Nnasaretha Kgamanyane | 2d ago

Koolkat Motyiko's single unravels rich tribal music tapestry

Goitsemodimo Kaelo | 11 h ago

Stakeholders must step up veggie supply

The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...

The Monitor Editor | 29 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Repatriation of offshore pension billions begins

NBFIRA has kick-started new investment rules that will require local pension funds to keep a minimum of 50% of their assets in the country, a figure that by May meant the repatriation of P16.8 billion.

Advancing social justice and decent work in Africa: A blueprint for change

Staying safe amidst the electoral frenzy as journalists brace for October election

Cultures Spears makes waves in the SA market

Sephobe for Miss Royal International Florida

Threads of broken bonds

Teen carves promising artistic path

Mapantsola invade Ramokgonami

Koolkat Motyiko's single unravels rich tribal music tapestry

Stakeholders must step up veggie supply