06 Mar 2018

The latest audited financial statements for Botswana Public Officers Pension Fund for the financial year ended on March 31, 2017 do not contain any adverse statement in relation to the financial condition of the Fund.

This was said by Minister of Finance and Economic Development, Mr Kenneth Matambo in response to a parliamentary question on March 5.

“The Fund’s Actuaries have confirmed their Actuarial Report for the period ending March 31st 2017, that the Fund was solvent,” Mr Matambo said.

He said it was not possible at that time to make a conclusive statement pertaining to any financial loss by the Fund, stating that the Fund and the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), were undertaking legal processes, which should provide such information.

The minister further said should the Fund and NBFIRA determine that there was a financial loss, both entities would collaborate to take the necessary action to protect the investment and pursue recoveries to the Fund.

Jwaneng/Mabutsane legislator, Mr Shawn Ntlhaile had asked the minister to make statement about the current state of finances of the BPOPF following recent developments.

He also wanted to know if the Fund had lost money, and if so, how much and what steps were taken to recover the money. ENDS