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Changes in Mascom board

SHARE   |   Monday, 05 June 2017   |   By Staff Writer
Changes in Mascom board

Botswana Public Officers Pension Fund (BPOPF) has appointed pensioner Ishmael Selebogo as the new chairman of the board of directors at telecommunications giant Mascom Wireless. He replaces Carter Morupisi, whose term ended on Wednesday. Selebogo was appointed at a BPOPF board of trustees meeting held on May 19 alongside Brigadier Charles Ngele of Botswana Defence Force (BDF) as a board member while BPOPF Chief Executive Officer Boitumelo Molefe also continues to sit in the board. The P59 billion pension fund is the majority shareholder at Mascom with a 40% stake. Morupisi – the Permanent Secretary to the President (PSP), and Chairman of BPOPF board of Trustees –recently told The Patriot on Sunday that BPOPF is not leaving Mascom anytime soon as the telecommunications giant is their biggest income earner. He was responding to allegations that MTN is exerting pressure to gain majority shareholding and increase control at the multi-billion pula mobile behemoth. 

BPOPF appoint new asset consultants

Rescuria Botswana has replaced Novare Botswana as the new asset consultants for the multi-billion pula Botswana Public Officers Pension Fund (BPOPF), following a decision of the board of trustees of May 19. The appointment comes after BPOPF declined to renew the contract for Novare after it came to an end late last year and invited new bids for the asset consultancy. Novare's bid came a distant third behind Rescuria in the first place and RMB in second. Novare Botswana, a subsidiary of Novare Actuaries & Consultants South Africa, was appointed asset and investment consultants by BPOPF board in 2013. The award was clouded in controversy after some losing bidders accused the BPOPF management and the board of favouring Novare because of close ties with powerful politicians in Botswana and South Africa. The role of an asset consultant is to analyse markets and provide investment advisory to BPOPF, supervise and assess performance of appointed asset managers and above all to drive the strategic plan adopted by the Fund.