23 May 2022

Badiri Ba Meepo Pensioners Association has formed partnership with KrediCell to boost investment portfolios of their members through cattle production.

In an interview with BOPA at the annual conference in Mogoditshane on Saturday May 21, the association’s secretary general Ms Mavis Kwamongwe said historically, investments in cattle production had only been accessible to investors with significant land, industry expertise, and direct connections to markets.

Ms Kwamongwe said pensioners usually found it difficult to take care of their livestock resulting in losses, theft, and low market value.

However, she promised that the joint venture with KrediCell would remove barriers by providing a high-quality cattle handling facility, cattle farming expertise and peace of mind.

She added that the project goal was to handle and take care of pensioners’ livestock in the form of investment and create a source of income for the association members.

The secretary general stated that the joint venture would help produce high-quality beef cattle to meet and exceed the needs of cattle investors by identifying and appointing qualified professionals from South Africa as strategic partners.

She said the partnership with KrediCell came with other benefits, which included soliciting funds and enabled pensioners to have access to loans.

This, she said would mean that loans repayment premiums would be deducted from an individual’s pensions through Debswana Pension Fund.

“This relationship has worked for us because it has enabled people to fix their tractors and perfect their ploughing fields. Even our membership has grown quite significantly to 1 800 members, with potential to grow further looking at the available 4 000 pensioners in the mining sector,” she said.

Moreover, she said steps towards implementation of key developmental initiatives propelled them to evolve into a standalone entity from  Debswana Pension Fund, to attract pensioners from other mines through their array of benefits.

She said the meeting was rather historic as it was their first since they parted ways with Debswana Pension Fund.

Ms Kwamongwe said they long wanted to have this working session in 2020, but could not due to circumstances owing to COVID-19.

However, she stated that they had achieved several milestones despite all encountered bottlenecks.

At the summit of their attainments, was the registration of their independent SACCOS which resumed its processes with the association in 2022.

“We are still in the hunt to have our funeral scheme and medical aid facility. At this juncture negotiations are ongoing to determine the right partners,” she said.

Furthermore, the secretary general announced that it was time for the election of a new committee as the current one  had completed a three-year tenure in office as per their constitutional guidelines.

She indicated that the annual conference would see election of  a new committee. 

Ms Kwamongwe said their constitution was enacted in 2010 and was due for review this year.

She said their branches currently comprised active 18 offices across Botswana, with their joining fee still at only P100 per person. Ends