Puma Energy, a downstream energy company and Botswana Public Officers’ Pension Fund (BPOPF), have announced the sale of ordinary shares in Puma Energy Botswana to the BPOPF, introducing more Batswana into the ownership structure of Puma Energy Botswana. The share sale equates to 20% of Puma Energy Botswana’s total ordinary shares in circulation. The BPOPF thus becomes part of the Puma Energy shareholding structure, which will contribute to securing the long-term development and stability of the Botswana economy and Puma Energy’s Botswana business.
Christophe Zyde, Chief Operating Officer of Puma Energy in Africa said: “The introduction of the BPOPF reinforces our commitment to Botswana. Puma Energy will remain focused on investing in Botswana and will continue to grow the business to create value for all stakeholders.”
“For the BPOPF, an acquisition of 20% of Puma Energy Botswana’s equity is a worthwhile initiative that sees us achieve our objective of investing locally for the benefit of our members. This investment further represents our support for international companies that offer Batswana sustainable opportunities as well as help diversify the local economy. We look forward to a mutually beneficial partnership,” the Chief Executive Officer of BPOPF, Boitumelo Molefe commented on the transaction.
Botswana Public Officers Pensions Fund (BPOPF) was registered in 2001. The establishment of the Fund came as a result of Government decision to change the Public Officer’s Pension arrangement from a Defined Benefit Pension Scheme to a Defined Contribution Pension Scheme.
Puma Energy Botswana Pty. Ltd, , a subsidiary of Amsterdam-based commodities trader Trafigura Beheer B.V. which purchased BP’s downstream interests in Botswana for $70m in 2011, provides fuel marketing and distribution services through 30 retail sites. The product includes fuels, aviation lubricants, and liquefied petroleum gas. It caters to government, transportation, and construction companies.