Q: Can you give us an overview of Mmila Fund Administrators and the services it offers?
A: Mmila Fund Administrators, a fully citizen-owned company, provides advisory services, investigations, and tracing, as well as managing Beneficiary, Preservation, Provident, Standalone, and Umbrella Pension Funds. We aim to be Batswana’s trusted partner in securing a successful financial future, helping individuals and fund sponsors (employers) manage their retirement and investment needs with a focus on long-term financial security. Our goal is to deliver comprehensive solutions that address our clients’ diverse needs while ensuring an exceptional experience in Retirement Fund administration.
Q: How do you ensure that your services align with the unique needs of Botswana’s retirement fund industry?
A: As a locally owned company, Mmila Fund Administrators is closely connected to Botswana’s social and economic environment, giving them a deeper understanding of the market’s unique needs. They actively collaborate with key stakeholders—pension fund members, trustees, and regulatory bodies—to align their services with the expectations of Botswana’s retirement fund industry. Their focus on continuous improvement, innovation, and regulatory compliance ensures that they offer solutions tailored to the evolving landscape of retirement funds in Botswana.
Q: How is Mmila Fund Administrators leveraging its role to diversify Debswana Pension Fund’s (DPF) alternative investments portfolio, and what growth opportunities have emerged?
A: Mmila is a profit-making entity, operating as an investment vehicle for its shareholder to increase the return on its investment. It is indeed part of the Fund’s investment portfolio, diversified through equity investment in the retirement funds industry. As a business set to grow its shareholder value, it is venturing into other business opportunities available that are within the confines of laws governing the industry. Some of these include the Mmila Umbrella Pension and Provident Funds, and Mmila Beneficiary and Preservation Funds. The company also has diversified into broking services through its subsidiary company; Mmila Advisory Services, which seeks to enhance growth and ensure sustainability.
Q: With DPF as your inaugural client, how has Mmila positioned itself to attract other pension funds and expand its client base in Botswana and the region?
A: With DPF as our first client, we have established a strong foundation of trust and operational excellence, which we are leveraging to attract other pension funds. We focus on delivering tailor-made solutions that resonate with the needs of different pension funds, providing value through our deep local market expertise, strong governance structures, and transparent service delivery. Our strategic partnerships with financial institutions and investment firms also strengthen our value proposition to potential clients within Botswana and the broader African region. Services and products are always enhanced with the client needs at the centre through our business development to give them better value for their money. Soon, Mmila’s products will become a formidable presence across the region.
Q: As a subsidiary of DPF, how do you maintain your independence and ensure unbiased service delivery to other clients in the retirement fund sector?
A: We have robust governance structures in place to ensure that we operate independently and provide unbiased services to all clients. Our service delivery is guided by strict compliance with industry regulations, and we strive to uphold transparency and integrity across all our operations. This allows us to maintain a high standard of service for all our clients, ensuring that no client gets a better service than others.
Q: Could you share some of the key challenges facing pension fund administration in Botswana, and how Mmila is working to overcome them?
A: One of the major challenges in Botswana’s pension fund industry is the lack of awareness and understanding of the importance of retirement savings. This often results in low contribution rates and disengagement from fund members. Additionally, the regulatory environment can be complex, requiring constant monitoring to remain compliant. Mmila addresses these challenges by engaging in public education campaigns through various mediums of media, and client engagement, to raise awareness and working closely with the regulator to ensure full compliance with the laws governing pension fund administration.
Q: How do you integrate technology into your business operations to improve efficiency and transparency?
A: Mmila prides itself in high-quality service achieved through state-of-the-art technology that gives Mmila a competitive edge. A lot of our processes are automated to achieve accuracy and efficiencies in service provision, while also enhancing transparency. We use a secure digital Member Portal for member records management, and real-time contribution tracking, ensuring accuracy and fast turnaround times. Mmila has placed privacy and information security at the core of its technology, setting itself apart as a leader in safeguarding client records.
Q: What strategies do you have in place to ensure Mmila’s services evolve to meet the future needs of its clients?
A: We continuously innovate to keep our services aligned with the evolving needs of our clients. By staying ahead of industry trends, investing in staff development, and adopting advanced technologies, we remain flexible and ready to meet future demands. Our goal is to provide a personalized experience while upholding the highest service standards. Mmila also benchmarks against top global retirement fund service providers, staying informed of changes in the economic landscape that directly impact the industry and may shape the future management of pension funds.
Q: As Mmila competes in the broader fund administration sector, what competitive advantages does it have over other players in the market, especially in terms of innovation and service?
A: Mmila’s competitive edge is rooted in our local ownership and deep market knowledge, but our unwavering client-centric approach truly sets us apart. We keep our ear to the ground, actively listening to understand the unique needs of our clients and members. By tailoring our services to meet their specific challenges, we deliver solution-based, bespoke offerings. With strong ties to key financial and regulatory players, we ensure our services are both relevant and fully compliant. Our focus on innovation, transparency, communication and integrity—backed by cutting-edge technology—keeps us ahead of the competition.
