Capital Management Botswana (CMB) directors, Rapula Okaile and his South African based counterpart, Tim Marsland are racing to gather supporting documents from partners to nullify money laundering allegations relating to a P500 million worth deal which they struck with Botswana Public Officers Pension Fund (BPOPF) sometime in 2014.
The Directorate of Public Prosecutions (DPP) had recently given signal of intent to charge the two directors with money laundering charges only to withdraw them at the time of calling as they were said to be gathering more evidence against the CMB directors. This has pushed Okaile and Marsland to solicit supporting documents from entities were they purportedly invested on behalf of BOP or BPOPF.
This week the DPP wrote to Marsland and Okaile’s lawyers’ sharing that they have received a docket containing allegations and evidence of crimes having been committed by the CMB directors. “However currently we are working on the premise and basis of what the investigators gathered. Please note that your client Timothy Marsland had not provide the Investigator his side of the story…”
So far the CMB directors have confirmatory affidavits from three companies where they made investments including Kawena and Agile. “We are still receiving more confirmatory affidavits,” said Rapula Okaile of CMB. Okaile told this publication that all the people asked to investigate should have taken time to ascertain if indeed investments have been made with the said entities. He said he is shocked that “since they are aware that CMB made investments on behalf of BOP, they now want to claim to doubt the value of transactions they do not understand.”
The CMB director decried that they were never given audience when a report by the statutory manager was prepared about them. “After checking if we have made these investments, they should have come back to us so that we explain the investments to them.” Meanwhile Okaile told this publication that they still contesting the CMB liquidation because they are of the view that it is not necessary and is being done in bad faith.
Collins calls out Dos Santos of KAWENA
On 12 February 2018, the Statutory Manager of CMB, Peter Collins called out Mr Clementino I. Dos Santos Jnr who is the Managing Director of Kawena Distributors, a company that CMB had purchased a stake of 60% on behalf of Botswana Opportunities Partnership (BOP). In his letter Collins indicated “According to information in my possession CMB on behalf of BOP invested an amount of P150 000 000 in Kawena Holdings…”
Collins stated that he was required to investigate CMB’s role in the acquisition and management of all assets acquired by CMB on behalf of BOP. “In terms of the Kawena acquisition, BOP was, apparently, to acquire 72 ordinary shares (60% of the share capital) as a passive investor, while you, in your personal capacity, were the active participant holding the remaining 40% shareholding stake in the company.
According a letter seen by this reporter Collins says the “Call Option Agreement” between Kawena and Dos Santos “makes no sense at all”. Collins further requests a meeting with Dos Santos where, “I will be raising the issue of a general shortage of some BWP150 000 000 which appears to have been diverted, without any value in return, by CMB to Sherewa and/or KawenaSA and/or yourself, thereby fraudulently depriving BOP and the Botswana pensioners it represents.” CMB problems with its then partner BPOPF escalated because of the animosity at Bona Life, where both Okaile and Marsland were accused of illegally siphoning money from the company.
BONA LIFE conflict
The chairman of Bona Life, Martin Letsweletse Dingake recently stated that challenges at the company were caused by Shareholder battle after one of the Shareholders Capital Management Botswana (Pty) Ltd – in liquidation or CMB invested Botswana Public Officers Pension Fund (BPOPF) monies in Bona Life through the Botswana Opportunities Partnership (BOP).
He wrote that the Directors of Capital Management Botswana (CMB), Tim Marsland and Rapula Okaile diverted funds from the BOP through a complex web of companies and attempted to steal the entire BOP from the BPOPF. At the same time, the Directors stole funds from Bona Life and also attempted to take over Bona Life from the other Shareholders and expel the Founding CEO of the company Ms Regina Vaka.
“Both attempts to steal the BOP and Bona Life were successfully stopped through a series of court cases and the timely intervention of the Regulatory Authority (NBFIRA), DCEC, Financial Intelligence Act (FIA) and various other state entities.” CMB is currently under final liquidation and will be permanently removed as Shareholder of Bona Life and from the Botswana financial services market. Similarly the Directors will never operate in this market again.
While there is no hard-and-fast rule in politics, former Molepolole North Member of Parliament, Mohamed Khan says populism acts in the body politic have forced him to quit active partisan politics. He brands this ancient ascription of politics as fake and says it lowers the moral compass of the society.
Khan who finally tasted political victory in the 2014 elections after numerous failed attempts, has decided to leave the ‘dirty game’, and on his way out he characteristically lashed at the current political leaders; including his own party president, Advocate Duma Boko. “I arrived at this decision because I have noticed that there are no genuine politics and politicians. The current leaders, Boko and President Dr Mokgweetsi Masisi are fake politicians who are just practicing populist politics to feed their egos,” he said.
Former Botswana Democratic Party (BDP) parliamentary hopeful, Lawrence Ookeditse has rejected the idea of taking up a crucial role in the Botswana Patriotic Front (BPF) Central Committee following his arrival in the party this week. According to sources close to development, BPF power brokers are coaxing Ookeditse to take up the secretary general position, left vacant by death of Roseline Panzirah-Matshome in November 2020.
Ookeditse’s arrival at BPF is projected to cause conflicts, as some believe they are being overlooked, in favour of a new arrival. The former ruling party strategist has however ruled out the possibility of serving in the party central committee as secretary general, and committed that he will turn down the overture if availed to him by party leadership.
Ookeditse, nevertheless, has indicated that if offered another opportunity to serve in a different capacity, he will gladly accept. “I still need to learn the party, how it functions and all its structures; I must be guided, but given any responsibility I will serve the party as long as it is not the SG position.”
“I joined the BPF with a clear conscious, to further advance my voice and the interests of the constituents of Nata/Gweta which I believe the BDP is no longer capable to execute.” Ookeditse speaks of abject poverty in his constituency and prevalent unemployment among the youth, issues he hopes his new home will prioritise.
He dismissed further allegations that he resigned from the BDP because he was not rewarded for his efforts towards the 2019 general elections. After losing in the BDP primaries in 2018, Ookeditse said, he was offered a job in government but declined to take the post due to his political ambitions. Ookeditse stated that he rejected the offer because, working for government clashed with his political journey.
He insists there are many activists who are more deserving than him; he could have chosen to take up the opportunity that was before him but his conscious for the entire populace’s wellbeing held him back. Ookeditse said there many people in the party who also contributed towards party success, asserting that he only left the BDP because he was concerned about the greater good of the majority not individualism purposes.
According to observers, Ookeditse has been enticed by the prospects of contesting Nata/Gweta constituency in the 2024 general election, following the party’s impressive performance in the last general elections. Nata/Gweta which is a traditional BDP stronghold saw its numbers shrinking to a margin of 1568. BDP represented by Polson Majaga garnered 4754, while BPF which had fielded Joe Linga received 3186 with UDC coming a distant with 1442 votes.
There are reports that Linga will pave way for Ookeditse to contest the constituency in 2024 and the latter is upbeat about the prospects of being elected to parliament. Despite Ookeditse dismissing reports that he is eying the secretary general position, insiders argue that the position will be availed to him nevertheless.
Alternative favourite for the position is Vuyo Notha who is the party Deputy Secretary General. Notha has since assumed duties of the secretariat office on the interim basis. BPF politburo is expected to meet on 25th of January 2020, where the vacancy will be filled.
Botswana Democratic Party (BDP) big wigs have decided to cancel a retreat with the party legislators this weekend owing to increasing numbers of Covid-19 cases. The meeting was billed for this weekend at a place that was to be confirmed, however a communique from the party this past Tuesday reversed the highly anticipated meeting.
“We received a communication this week that the meeting will not go as planned because of rapid spread of Covid-19,” one member of the party Central Committee confirmed to this publication. The gathering was to follow the first of its kind held late last year at party Treasurer Satar Dada’s place.