The Botswana Development Corporation (BDC) has come under scrutiny following its decision to suspend senior executives over allegations of conflict of interest related to a Botswana Public Officers Pension Fund (BPOPF) local equities incubation tender.
BPOPF recently invited proposals from fledgling companies for the provision of asset management services for a local private equity mandate. This will be under the BPOPF’s Incubation Programme which is designed to assist technically capable citizens to grow or start local asset management firms that can compete locally and internationally. It is understood that some BDC employees showed interest by responding to the tender document. But BDC leadership led by Chief Executive Cross Kgosiitsile suspended them upon learning about their intensions saying they should have among others declared their interest in the tender.
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