24 Jun 2018

The Minister for Presidential Affairs, Governance and Public Administration says Botswana Public Officers Pensions Fund (BPOPF) is in a sound financial status with assets of P61 billion as at March 31, 2018. In response to a question in Parliament on June 21, Mr Molefhi said the last actuarial valuation reflected a positive funding level with a surplus adding that the current fund had investments locally and offshore with a mix of approximately 40/60.

“The Fund is invested in all asset classes being listed equities and bonds, real estate alternative investments,” he said. Minister Molefhi highlighted that BPOPF lost potential sum of P450 million from the private equity investment in Botswana Opportunity Partnership (BOP), a private fund that was operated by Capital Management Botswana (CMB). In terms of how the lost money would be recovered, Mr Molefhi said the matter was before  court and BPOPF was seeking a confirmation of the appointment of the statutory manager as it would enable a thorough investigation into the affairs of BOP.

He added that BPOPF also sought to recover any losses from CMB with respect to the remaining asset being Bona Life, Kawena, Agile University and Makuba Airlines. Minister Molefhi was responding to a question from Gabane-Mmankgodi MP Maj. Gen. Pius Mokgware who had asked the minister to update Parliament on the current state of finances at BPOPF. Ends