Wednesday, May 22, 2024

Kgosidiile in pole position for BPOPF plum post

Cross Kgosidiile is tipped to leave his post as Chief Executive Officer (CEO) of Motor Vehicle Accident (MVA) Fund and cross over to Botswana Public Officers Pension Fund (BPOPF). Reports reaching Sunday Standard indicate that Kgosidiile has emerged as the preferred candidate for the BPOPF top job and all what is left is for him to go through the routine administrative procedures before a formal announcement is made. Before public announcement, he is expected to go through the regulatory vetting process which includes clearance for known offences by law enforcement agents. The vetting process also considers relevant information about character, including provable whistle blowing and relevance in relation to impact trust.
Contacted for comment, Kgosidiile remained tight lipped and referred all questions to BPOPF management.
“For information like that, I suggest that you contact BPOPF management directly as it is their matter, not mine. It’s an operational issue and they are better placed to handle it,” he said.
BPOPF Board Chairman, Carter Morupisi said the board does not have a specific time frame and deadline within which it should have appointed a substantive BPOPF CEO.
“This is a long process which does not need the board’s attention alone. We have to engage other parties and key stakeholders during different stages of recruiting the CEO,” he said.
Kgosidiile is a graduate of the University of Botswana (UB) where he obtained both of his Bachelor of Commerce (Accounting) degree and a Masters in Business Administration. He is a fellow of the Chartered Institute of Management Accountants and Botswana Institute of Accountants. Kgosidiile also serves in the Boards of Botswana Railways, KYS Investments Limited, Prime┬áTime Holdings┬áand is the Chairman of the Botswana Building Society. BPOPF is a huge portfolio that is central to the national interest and the national economy. It is one of the region’s largest pension funds with assets totalling P48.3 billion as at December 2014. Of the P48.3bn, P6bn is pensioners’ assets while the balance of P42.3 bn is for active members and deferred pensioners. Until December 2014, 54 percent of BPOPF’s assets were invested offshore while 46 percent were invested onshore. Last year, BPOPF acting Chief Executive, Lesedi Moakofhi launched an ambitious three-year investment strategy with particular focus and bias towards private equity, infrastructure and strategic investment in Botswana. The strategy would create employment and position BPOPF as a key player in the national economy. The fund has been investing heavily in offshore markets because of limited investment opportunities in the local economy.


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