BPOPF-backed fund to acquire Flo-Tek
Friday, July 03, 2015
BOP is a partnership between the Botswana Public Officers Pensions Fund (BPOPF) and Capital Management Botswana (CMB), with the mandate to invest in businesses in Botswana.
Flo-Tek chief executive officer, Vijay Naik, confirmed that negotiations for BOP to acquire Flo-Tek are at an advanced stage, but declined to provide further details on the transaction.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...