
A storm is brewing between Botswana Public Employees Union (BOPEU) subsidiary Babereki Investments and their investment consultant Donald Gaetsaloe, following revelations that their past relationship caused disqualification of the latter from a P500 million deal at Botswana Public Officers Pension Fund (BPOPF). Last month, The Patriot on Sunday, published an expose which revealed that Gaetsaloe's company Confianza Capital – a start-up asset management firm shortlisted for the local listed equities mandate under the incubation programme- was disqualified after a legal due diligence uncovered claims that he had given 'bad' investment advice to Babereki. BOPEU leaders (through Babereki) claim that they have lost about P30 million due to poor investment advice rendered by Gaetsaloe and that he is part of a forensic audit they are conducting. Based on the claim, the BPOPF board meeting in July 2018 disqualified Confianza from the lucrative deal. BPOPF Principal Officer Boitumelo Johnson has refused to discuss the reasons why Confianza was disqualified saying it is a confidential matter. According to sources Gaetsaloe has since taken BPOPF to task demanding that they provide proof that indeed he gave BOPEU/ Babereki bad investment advice, which the Board of Trustees based their decision on. He declined to discuss…