The outsourcing of the fund’s administration is to comply with a 2017 decision by Botswana s regulators that all pension funds be managed by an independent administrator unconnected with the fund itself.
Botswana's Public Officers Pension Fund (BPOF), with 83 billion pula ($7.85 billion) in assets under management, has appointed South African advisory firm NMG Benefits to administrate the fund.
Botswana's Public Officers Pension Fund (BPOF), with 83 billion pula (R102-billion) in assets under management, has appointed South African advisory firm NMG Benefits to administrate the fund.
Botswana s Public Officers Pension Fund appoints South African administrator 03 June 2021 - 18:59 By Brian Benza Botswana s financial industry has been growing in recent years to become a key driver of growth in the services sector, but the industry is still dominated by South African firms. Image: 123RF
Botswana s Public Officers Pension Fund (BPOF), with 83bln pula (R106bln) in assets under management, has appointed South African advisory firm NMG Benefits to administrate the fund.
Effective June 2, NMG Botswana, a joint venture between BPOPF (51%) and NMG South Africa (49%), will collect contributions, manage payrolls and maintain records for the 156,000-member fund, it said late on Wednesday.