Exposed! Morupisi, CMB links :: Mmegi Online

Although the permanent secretary to the President (PSP), Carter Morupisi denies any conflict of interest in the beleaguered Capital Management Botswana's (CMB) ongoing troubles, Mmegi investigations have found evidence that links the two.

It has become apparent that at least one of the cars impounded recently by the Directorate on Corruption and Economic Crime (DCEC) links a close family member of the PSP to the directors of CMB.

CMB, an asset management firm, is currently embroiled in a legal battle over a disputed P427 million of public pension fund assets. The row stems back to a 2014 deal with the Botswana Public Officers Pension Fund (BPOPF) which has been roundly criticised by legal eagles as being biased against the pension fund. Critics of the deal have described as mind-boggling the BPOPF’s decision to sign the lopsided contract under which it invested P477 million and was paid back P50 million.

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