Monday, October 26, 2020

Race for BPOPF plum post begins

The hunt for Ephraim Letebele’s successor as chief executive at the Botswana Public Officer’s Pension Fund (BPOPF), the largest pension fund, has started in earnest.

This comes after a long tussle between Letebele and the BPOPF which came to an end recently following their agreement to settle their court case matter out of court. Last year Letebele filed a law suit against his former employer in the Industrial Court.

He was seeking a reinstatement to his former position retrospectively to the date of termination of his contract with salary packages or alternatively payment of P2, 7 million as well as legal costs.

On February 14, 2013 the BPOPF Board of directors had resolved to dismiss him for, amongst other reasons, failing to implement decisions by BPOPF regarding management of an agreement with Mascom Wireless Botswana.

He was at some point called upon to answer allegations against him which he found “unfounded and baseless”.

Despite his evidence, Letebele was dismissed from employment on grounds that his representation was unsatisfactory and that the relationship between him and the organisation had broken down irretrievably, which warranted his dismissal.

When identified, the Chief Executive is expected to play a pivotal role and will report to the Chairman of the Board of Trustees.

The candidate will be responsible for the operational, financial and performance management of the fund and ensure the achievement of the funds’ goals and objectives whilst enabling the Board of Trustees to fulfil their governance function.
Currently Lesedi Moakofhi is the acting CEO.

BPOPF stated that the new boss should be able to demonstrate capability in strategic planning and vision; building and promoting partnerships across the pension fund and beyond; empowering and building trust and communicating information and ideas sharing.

In addition to having credibility at executive level, the candidate is expected to have integrity beyond reproach, an assured diplomatic managerial touch, and be professionally qualified in finance and economics.

This past week, BPOPF ran vacancy adverts in local media publications inviting candidates to apply to be shortlisted for the job and the pension funding and stated that it has experienced phenomenal growth since its inception despite difficult market conditions in recent years.

It stated that as the largest pension fund in the country the fund has more than 150 000 members and primarily invests members’ funds in assets such as equity and property in the local market, emerging markets and developing markets.

Currently BPOPF has assets of a market value of P38.7 billion and pensioner assets were valued at P32.9 billion as at March 2013.

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