mmegi

Repatriation of offshore pension billions begins

Friday, August 25, 2023 | 1150 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.

'I was deceived'

Larona Makhaiza | 9 h ago

Fierce battle looms in BPF Nata-Gweta primaries

Chakalisa Dube | 15 h ago

BPF to win all Serowe constituencies

Innocent Selatlhwa | 15 h ago

BDP councillor withdraws candidacy, decries voters roll manipulation

Tsaone Basimanebotlhe | 15 h ago

BDP primaries: More fireworks, twists and turns

Tsaone Basimanebotlhe,Goitsemodimo Kaelo | 15 h ago

Choppies' P1m Olympic incentive

Calistus Kolantsho | 17 h ago

Masole gears for third Chess Olympiad

Calistus Kolantsho | 18 h ago

Wildebeests on the cusp of rugby history

CALISTUS KOLANTSHO | 18 h ago

BDP primaries leave a lot to be desired

The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...

The Monitor Editor | 22 July 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.