NBFIRA CEO AT THE BSE CONFERENCE
The Botswana Stock Exchange (BSE) hosted a listing conference on the 11th of March where the Non- Bank Financial Institutions Regulatory Authority (NBFIRA) CEO Mr. Oaitse Ramasedi gave closing remarks. The theme of the Conference was “Opening the BSE to the business community – Attracting listings & creating value through listing”.
In his closing remarks Mr Ramasedi reminded the audience of the NBFIRA mandate, which is to regulate and supervise financial Institutions for the purpose of contributing towards financial stability. He also highlighted on the importance of Regulation which encourages clarity of a good business path and removal of emotions & sentiments from decision making and a level playing field. Emphasis was also on cooperation and membership with other Authorities such as sharing information, and affiliation with international and regional bodies like CISNA (Committee of Insurance, Securities and Non-banking Financial Authorities) which BSE is a member through affiliation with COSSE.
Mr Ramasedi further highlighted on the pension assets which have seen a significant growth of P69billion to date. The NBFIRA CEO shared with attendants the revised Pension Fund Regulation 2 (PRF 2) with concentration on reducing concentration risk and achieving diversification within retirement funds through setting quantitative limits per asset class. He also mentioned that it encourages risk informed investment strategy, risk informed restrictions and assured the audience that the 13 regulated Asset managers are ready to invest in businesses that are through the PFR 2 guide.
In closing the NBFIRA CEO encouraged unlisted entities to meet with BSE as per their request. For BSE, brokers and various advisors to prepare for the avalanche of requests to list.
‘’To the 13 licensed asset managers I encourage you to invest in your businesses, in line with the PFR2 guide. ‘’said the NBFIRA CEO Mr Ramasedi.
