05 Aug 2026

Botswana Public Officers Pension Fund (BPOPF) is on course to achieve its strategic target of P130 billion in assets under management by March 2027 after growing its assets from P116.38 billion in 2025 to P128.3 billion in 2026, representing growth of about 10.2 per cent.

Addressing a media briefing in Gaborone on Monday on the Fund’s 2025/26 performance, BPOPF chief executive officer, Ms Kwenantle Otukile, said the growth reflected strong investment performance, supported by continued contributions and healthy investment returns.

She said the Fund had maintained a diversified asset allocation strategy, demonstrating disciplined investment management while pursuing sustainable returns for members and making steady progress towards its strategic growth target.

She said the Fund was on track to achieve its strategic target of P130 billion in assets under management by March 2027, and they remained confident that, together with the board, service providers and partners the objective would be attained.

Ms Otukile said the Fund’s active and deferred portfolio recorded an interest rate of 11.10 per cent during the 2026 financial year, up from 6.4 per cent in 2025. The pre-retirement switch portfolio improved from 6.12 per cent to 8.27 per cent, while the Tshomarelo Member Choice portfolio increased from 6.53 per cent to 10.75 per cent.

She said the improved returns enabled members to benefit from favourable market performance while maintaining a balanced risk profile.

On service delivery, Ms Otukile said member satisfaction remained one of the Fund’s key performance indicators, with the annual customer satisfaction survey recording 86.31 per cent against a target of 80 per cent.

“This result demonstrates the effectiveness of the Fund’s service delivery and member engagement initiatives,” she said.

Contributions remained a key driver of the Fund’s growth as they were invested to generate returns for members. Contributions received during the 2025/26 financial year were almost at the same level as those received in the previous year.

Regarding benefits, Ms Otukile said retirements increased by 42 per cent compared to the previous year, largely due to a significant number of long-serving public officers retiring with high-value benefits.

She said death benefits rose by 45 per cent, while transfer-outs increased by 56 per cent, resulting in an overall 39 per cent increase in benefits paid during the year.

Despite the higher benefit payments, she said the Fund remained financially sound and continued to meet all member obligations as they fell due.

Ms Otukile also said the Fund remained compliant with Pension Prudential Rule No. 2 (PFR2) requirements set by the Non-Bank Financial Institutions Regulatory Authority and continued to repatriate offshore investments through a structured approach while maintaining targeted returns.

“As of March 2026, the Fund had reached 46.21 per cent against a target of 47 per cent and is on course to achieve full compliance by December 2026,” she said.

She added that the Fund maintained a funding level of about 103 per cent, reflecting a strong financial position and prudent management of members’ investments.

Although investment activities resulted in costs, Ms Otukile said the Fund continued to keep its asset management cost ratio below one per cent despite a slight increase during the year due to expanded investment management activities.

She further said the Fund had implemented several new investment mandates under its incubation programme to support the development of local capital markets and service providers.

In addition, BPOPF completed the rollout of new digital service channels and established strategic partnerships to strengthen member education while enhancing service delivery and customer satisfaction.

Ms Otukile said the 2026/27 financial year marked the final year of the Fund’s current five-year strategic plan, with preparations already underway to develop the next strategic roadmap. ENDS