Alexander Forbes Botswana refers to certain media reports related to the Botswana Public Officers Pension Fund (BPOPF).

We can confirm that the company was the administrator of the BPOPF between April 2001 and May 2016. The administration of the fund was taken in-house by the BPOPF effective June 1, 2016.

At the time of the administration handover, a full exit audit was conducted. The handover included all required data, including active member data and exit data including deferred members, death claims and retirements. The valuation of the BPOPF assets was performed by Deloitte Botswana, with the handover from Alexander Forbes to the BPOPF overseen by KPMG Botswana.

As part of the handover, Alexander Forbes Botswana also completed and finalised the financial statements for the period ending March 31, 2016, that were duly audited and signed off by PwC Botswana. All previous annual audits carried out during the period Alexander Forbes Botswana administered the BPOPF have also been approved by external auditors without qualification. Alexander Forbes Botswana administered the BPOPF under the supervision of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA).

“We are confident that we adhered to a robust handover process in transferring relevant data to the BPOPF, including following a prescribed process with completion of a full external audit that was audited and signed off by PwC Botswana. We will naturally work closely with the Regulator as required on this matter”, said Bernhard Schluep, Chief Executive Officer of Alexander Forbes Emerging Markets.

ENDS

www.alexanderforbes.co.za

Issued by Corporate Image on behalf of Alexander Forbes