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Pensioners investigate BPOPF

A group calling itself, BPOPF Watchdogs, with a tagline “Our Pension Our concern” has emerged to tackle “the unfortunate incidences of the Botswana Public Officers Pensioners Fund (BPOPF) financial scandals emanating from deceitful and misappropriation of funds.”

The BPOPF Watchdogs, which is scheduled to meet teachers who are in Gaborone for marking has already written letters to the BPOPF and other stakeholders. In a letter written to the Chief Executive Officer of BPOPF, BPOPF Watchdogs notes that the Pension Fund has a list of local and offshore fund managers legally sanctioned to invest on behalf of the fund, consequently bringing dividends that are supposed to benefit members as interest.

The coming to life of this pressure group is linked to the ongoing tussle between BPOPF and Capital Management Botswana (CMB). The Group is convinced that the information coming out is not complete and wants to get to the bottom of the matter. It has already engaged international organisations and local partners to gather information which they will then share with the public about the status of the BPOPF.

It is now public knowledge that the BPOPF invested the sum of P477 million in the Botswana Opportunity Partnership (BOP) to be managed by CMB in terms of the BOP agreement between the two. CMB then disposed of the investment and only paid P50 million to BPOPF. The BPOPF has tried to tell the court that a balance of P400 million is missing.

The tussle between the two entities is motivated by the urge to regain assets which are estimated at a value of close to P477 million. Shareholders of CMB are accusing Non-Bank Financial Institution Regulatory Authority and Botswana Public Officers Pension Fund (BPOPF) of using false information to motivate the court to liquidate CMB. “CMB was appointed by BOP as its fund manager and CMB, in its capacity as General


Partner delegated responsibility for the management of BOP to CMB in its capacity as fund manager. BPOPF made a capital commitment1 to contribute up to BWP500,000,000 to BOP. In 2015 and 2016 various drawdown notices were issued to BPOPF by CMB on behalf of
BOP for the purpose of investing in certain identified private equity investments and for agreed fund expenses and fees. BPOPF duly paid the aforesaid drawdown notices amounting in aggregate to some BWP470,000,000.00.”

According to the BPOPF Watchdogs Coordinator, Mpho Maruping, “For almost the past ten years, Botswana public service employees have endured painful financial period, some years passed without salary hikes, while others had insignificant salary increase. Public service employees had to take focus to their pension fund since workers had no salary increment. Some public service workers had to make additional contributions in order to increase their revenue.”

In a letter to the BPOPF CEO, Maruping notes that though the BPOPF has Board of Trustees consisting of representatives drawn from various segments; the employer representation, the trade representation, the management representation and the independent personnel – The representation has a fiduciary role of ensuring that people’s money are used prudently and by taking responsible decision on disbursement of money for investment.

He further states that there are allegations that some Board of Trustees have connections with fund managers. Unfortunately there had been corruption cases involving some fund managers which and led to marathon legal battles, and that does not boarder well with the owners of the fund, being bona-fide members.

“There have also been lapses in administration duties of BPOPF duties, inability to issue out members’ individual financial statements and no prompt official report has been rendered out. Members are quite aware that their accrued capital used for investment, however in the mist of these funds misappropriation news, BPOPF recently lost shares they purchased from one comp0any listed in the stock market. This had caused more uncertainties amongst members.”


He further notes that “BPOPF WATCHDOGS” vows to raise alarm and play an oversight role to sensitize that public on dutiful responsibility of the Board of Trustees and fair usage of people’s pension. “Additional, allegations are rampant that retired public service employees often face difficulties in getting their dues due to administration lapse of readily available finances. Painful the tax instituted against the total accrued is unjustified.

For retirees to get their benefits the employer gathers historical information of the retirees’ assets and insures they are properly taxed. Though taxes are regulated by Botswana Unified Revenue Services we have strong conviction that pensioners should be exempted from tax, or if any, pensioners should be charged a low percentage.” Maruping notes that they have a plan of action that we intend to execute without fail, which is attached herein to appreciate our plan of actions.

“We would like your organizations to assist us carry-out our campaign diligently without fail. Your organization will be remembered for being paragon of change and protection of poor public service employees from deceitful and corrupt characters.” Maruping wants the Watchdogs to meet BPOPF management “pertaining to disturbing news concerning Botswana Public Officers Pension Fund. 

We strongly believe that as members we are entitled to protect our accrued capital and ensure that the ideas of BPOPF are fulfilled. Additionally, our watchdog roles encompass the obligation to ensure that those entrusted with the responsibility of protecting our valued assets perform their tasks dutifully.” He says their first objective is to ensure that our social insurance is in safe hands, therefore our initiative to engage in truth-finding actions which include visitation to BPOPF Management.

What the Watchdogs want to establish:

State of choppies shares
Ensuring our funds are in safe hands
State of retired public service employees
Members individual financial statements
BPOPF Fund managers both local and offshores
Allegations o9f misappropriation and corruption cases

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Masisi to dump Tsogwane?

28th November 2022

Botswana Democratic Party (BDP) and some senior government officials are abuzz with reports that President Mokgweetsi Masisi has requested his Vice President, Slumber Tsogwane not to contest the next general elections in 2024.

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African DFIs gear to combat climate change

25th November 2022

The impacts of climate change are increasing in frequency and intensity every year and this is forecast to continue for the foreseeable future. African CEOs in the Global South are finally coming to the party on how to tackle the crisis.

Following the completion of COP27 in Egypt recently, CEOs of Africa DFIs converged in Botswana for the CEO Forum of the Association of African Development Finance Institutions. One of the key themes was on green financing and building partnerships for resource mobilization in financing SDGs in Africa

A report; “Weathering the storm; African Development Banks response to Covid-19” presented shocking findings during the seminar. Among them; African DFI’s have proven to be financially resilient, and they are fast shifting to a green transition and it’s financing.

COO, CEDA, James Moribame highlighted that; “Everyone needs food, shelter and all basic needs in general, but climate change is putting the achievement of this at bay. “It is expensive for businesses to do business, for instance; it is much challenging for the agricultural sector due to climate change, and the risks have gone up. If a famer plants crops, they should be ready for any potential natural disaster which will cost them their hard work.”

According to Moribame, Start-up businesses will forever require help if there is no change.

“There is no doubt that the Russia- Ukraine war disrupted supply chains. SMMEs have felt the most impact as some start-up businesses acquire their materials internationally, therefore as inflation peaks, this means the exchange rate rises which makes commodities expensive and challenging for SMMEs to progress. Basically, the cost of doing business has gone up. Governments are no longer able to support DFI’s.”

Moribame shared remedies to the situation, noting that; “What we need is leadership that will be able to address this. CEOs should ensure companies operate within a framework of responsible lending. They also ought to scout for opportunities that would be attractive to investors, this include investors who are willing to put money into green financing. Botswana is a prime spot for green financing due to the great opportunity that lies in solar projects. ”

Technology has been hailed as the economy of the future and thus needs to be embraced to drive operational efficiency both internally and externally.

Executive Director, bank of Industry Nigeria, Simon Aranou mentioned that for investors to pump money to climate financing in Africa, African states need to be in alignment with global standards.

“Do what meets world standards if you want money from international investors. Have a strong risk management system. Also be a good borrower, if you have a loan, honour the obligation of paying it back because this will ensure countries have a clean financial record which will then pave way for easier lending of money in the future. African states cannot just be demanding for mitigation from rich countries. Financing needs infrastructure to complement it, you cannot be seating on billions of dollars without the necessary support systems to make it work for you. Domestic resource mobilisation is key. Use public money to mobilise private money.” He said.

For his part, the Minster of Minister of Entrepreneurship, Karabo Gare enunciated that, over the past three years, governments across the world have had to readjust their priorities as the world dealt with the effects and impact of the COVID 19 pandemic both to human life and economic prosperity.

“The role of DFIs, during this tough period, which is to support governments through countercyclical measures, including funding of COVID-19 related development projects, has become more important than ever before. However, with the increasingly limited resources from governments, DFIs are now expected to mobilise resources to meet the fiscal gaps and continue to meet their developmental mandates across the various affected sectors of their economies.” Said Gare.

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TotalEnergies Botswana launches Road safety campaign in Letlhakeng

22nd November 2022

Letlhakeng:TotalEnergies Botswana today launched a Road Safety Campaign as part of their annual Stakeholder Relationship Management (SRM), in partnership with Unitrans, MVA Fund, TotalEnergies Letlhakeng Filling Station and the Letlhakeng Sub District Road Safety Committee during an event held in Letlhakeng under the theme, #IamTrafficToo.

The Supplier Relationship Management initiative is an undertaking by TotalEnergies through which TotalEnergie annually explores and implements social responsibility activities in communities within which we operate, by engaging key stakeholders who are aligned with the organization’s objectives. Speaking during the launch event, TotalEnergies’ Operations and HSSEQ,   Patrick Thedi said,  “We at TotalEnergies pride ourselves in being an industrial operator with a strategy centered on respect, listening, dialogue and stakeholder involvement, and a partner in the sustainable social and economic development of its host communities and countries. We are also very fortunate to have stakeholders who are in alignment with our organizational objectives. We assess relationships with our key stakeholders to understand their concerns and expectations as well as identify priority areas for improvement to strengthen the integration of Total Energies in the community. As our organization transitions from Total to Total Energies, we are committed to exploring sustainable initiatives that will be equally indicative of our growth and this Campaign is a step in the right direction. ”

As part of this campaign roll out, stakeholders  will be refurbishing and upgrading and installing road signs around schools in the area, and generally where required. One of the objectives of the Campaign is to bring awareness and training on how to manage and share the road/parking with bulk vehicles, as the number of bulk vehicles using the Letlhakeng road to bypass Trans Kalahari increases. When welcoming guests to Letlhakeng, Kgosi Balepi said he welcomed the initiative as it will reduce the number of road incidents in the area.

Also present was District Traffic Officer ASP, Reuben Moleele,  who gave a statistical overview of accidents in the region, as well as the rest of the country. Moleele applauded TotalEnergies and partners on the Campaign, especially ahead of the festive season, a time he pointed out is always one with high road statistics. The campaign name #IamTrafficToo, is a reminder to all road users, including pedestrians that they too need to be vigilant and play their part in ensuring a reduction in road incidents.

The official proceedings of the day included a handover of reflectors and stop/Go signs to the Letlhakeng Cluster from TotalEnerigies, injury prevention from tips from MVA’s Onkabetse Petlwana, as  well as  bulk vehicle safety tips delivered from Adolf Namate of Unitrans.

TotalEnergies, which is committed to having zero carbon emissions by 2050,  has committed to rolling out the Road safety Campaign to the rest of the country in the future.

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