BPOPF hands P1.5bn to start-up fund managers

Friday, August 25, 2017

Molefe says only wholly-owned citizen firms will benefit PIC: TSELE TSEBETSAME

The cash-rich Botswana Public Officers Pension Fund (BPOPF) will provide P1.5 billion in seed capital to three wholly citizen owned start-up fund managers in a bid to facilitate the involvement of more Batswana into the lucrative investment management business.

Under its incubation programme, mooted last year, the BPOPF has identified three greenfield companies to be financed from its P55 billion kitty with two involved in private equity while the other will trade in the listed equity space.

Addressing the media in Gaborone this week, the Fund’s chief executive officer, Boitumelo Molefe said the three companies will each get P500 million to be invested only in Botswana.

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