Investigators recover half of pensioners’ missing P600m

BOFEPUSO members have pensions with the BPOPF FILE PIC
BOFEPUSO members have pensions with the BPOPF FILE PIC

About half of the P600 million in funds taken from the Botswana Public Officers Pension Fund (BPOPF) and Bona Life years ago, has been recovered, while efforts continue locally and in South Africa to trace the balance.

The pension fund pumped out P477 million to Capital Management Botswana (CMB), while Bona Life, which relaunched recently, had directed P133 million to the asset manager for investment.

CMB, now under liquidation, was contracted by the BPOPF in 2014 to manage an initial P500 million investment mandate in private equity. The asset manager and the pension fund fell out in late 2017 with allegations of misappropriation, at which point CMB had reportedly been given P477 million to manage. The asset manager sent BPOPF P50 million back and said the amount was final fulfilment and settlement of its (CMB’s) obligations to the BPOPF under the terms of a “partnership agreement”.

Editor's Comment
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The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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