Notes opportunity for investors seeking more investment options
PrimeTime Property Holdings is offering asset managers an opportunity to buy more shares in the company owing to the onshoring of pension fund assets worth billions of pula.
Asset managers are expected to bring back around P3.7 billion of pension funds this year, complying with the revised Retirement Funds Act of 2022. The law sets out a gradual process for local fund managers to increase their investments in Botswana from 30% to 50% by December 2027.
In total, managers estimate repatriating over P13 billion, with an average of P3.7 billion per year until the quota is reached. Given the limited capacity of the local market to absorb this influx of liquidity due to the regulatory change, PrimeTime notes in its annual report that there is an opportunity for investors seeking more investment options.
“This situation, however, presents a strategic opportunity for investors looking for additional investment options,” Paul Masie the company’s chair said adding that “PrimeTime, under its new structure, will provide an opportunity for these investors to take up additional shares in the Group”.
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