As Botswana moves to localise pension assets under the revised Pension Fund Rule 2, retirement funds are balancing the need to support domestic capital markets with the goal of safeguarding long-term returns for members. The Debswana Pension Fund (DPF) is already ahead in this transition.
Under the updated rules issued by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), pension funds must increase their domestic investments to 50 percent by December 2027. The phased plan requires a minimum local allocation of 41 percent by December 2024, rising to 44 percent in 2025, 47 percent in 2026, and finally achieving equal onshore and offshore investments in 2027.
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