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Parliament gives Kgathi‘s Trust Property Control Bill thumps up

The National Assembly has this week passed the Trust Property Control Bill No 16 which was tabled by minister of Defence, Justice and Security Shaw Kgathi. The bill, according to Kgathi seeks to establish an act to regulate the control of trusts; and to provide for matters connected therewith.

When presenting the bill which was tabled as a matter of urgency Kgathi pointed out that there has been no statutory law regulating the property of trusts and foundations in Botswana hence stating that this provides possible crimes such as money laundering. He pointed out that the bill is also in alignment with the Financial Intelligence Amendment Bill.


The bill targets trusts and foundations across the country. There have been concerns some trusts are established with the aim of pursuing a certain mandate only to be used to launder funds. Kgathi further reiterated that the bill proposes that all trusts should register with the Master of High Court as this will ensure efficient accountability as to what the trusts do as well as auditing of the trusts’ accounts.

He added, “There are too many trusts and foundations which have cropped up and this is a cause for concern. Some of the trusts are associated with fraud and swindling Batswana large sums of money while they are pushing their own interests to get riches at the detriment of Batswana.”

He continued to state that clause no 7 and 25 of the bill calls for any trust or foundation to furnish the Master of the High Court with all the details of its activities performed by the trust or its trustees, adding that clause 16 and 17 empowers the master of High Court to call for an investigation against any trust based on provision of reported irregulaties or misconduct by a foundation.

The members of parliament expressed diverse views while debating the bill. Maun East lawmaker, Kostantinos Markus said the bill is a good development. He pointed out that of recent, there have been cases of stealing money from Batswana by some trusts especially law firms. He also said law firms should be the most regulated and overseen. He called for stiff action against those found to be in illicit conduct, including termination of their trading licences.

Another Member of Parliament, Dithapelo Keorapetse said the bill is a step in the right direction as the trusts tend to acquire money from sponsors claiming that they are running charity organizations whereas they are serving interests of certain politicians. “These so called trusts and foundations have become problematic. They have been less regulated and are mostly associated with senior government officials as well as funding the ruling party activities such as the reports of BDP’s camp Dubai team which was funded by a certain trust during the party congress last year,” underscored Keorpetse.

The youthful legislator further added that, “to fight corruption, senior government officials should be investigated and be excluded from doing business with the government in terms of being given tenders including their relatives as well.” For his part the leader of Alliance for Progressives (AP), Ndaba Gaolathe also pointed out that it is very clear that trusts need to be regulated not only to control the risk with money laundering but to control fraudulent activities carried by some trusts.


Gaolathe also cautioned that the powers being given to the Master of High Court as stipulated by clause 17 should be reduced. “The clause 17 calls for the master to cause investigation as they deem fit to do so is overly broad and they need to be specifics set to enable a master to cause investigation might leave room for abuse of power to some extent.”

MP for Mahalapye West, Michael Molefhe is of the view that the law will seek to bring in place adequate accountability and transparency of notorious activities conducted by the trusts. He called for the law to be implemented equally amongst all trusts and foundations without only cracking on certain trusts and leaving outside others owned by the high class and elites. 


BOKO DEFENDS LAW FIRMS

However, Gaborone Bonnington North MP and leader of UDC, Duma Boko came with guns blazing defending law firms who some pointed out as the major source of controversy in relation to swindling Batswana money. Advocate Boko highlighted that law firms and their trust accounts are audited annually by professional auditors with the auditing overseen by Law Society of Botswana.

“I stand to debunk demonic myths that the trust accounts of law firms are not audited. Don’t tarnish the image of the law firms and question professional ethics because every commencement of the legal year the law firms are audited and the list of all compliant law firms is published in the local newspapers,” said the emotionally charged Boko.

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Protect yourself from Spear phishing and Smishing

19th July 2024

 

You may have heard of the term Phishing which is a form of social engineering and a scam where attackers deceive people into revealing sensitive information or installing malware such as viruses, worms, adware, or ransomware. There are however other forms of  phishing which are just as deceitful such as Spear phishing and Smishing.

Spear phishing emails have a more targeted, personal feel to them. It is addressed to the recipient specifically and seems to come from legitimate sources, such as your bank, your insurance company or a legal firm. This is where information attained from social media platforms come into play. A sense of urgency and pending doom (a potential fine for inaction, account lockouts, increased interest rates etc) could entice users to action emails. Often, a request for card or account login information is worked into the theme of the email. 

In much the same way, social engineers will call you, and armed with a few well-chosen names or phrases they pretend to be from your bank, eager to help you with a potential account problem you did not even know existed. Vishing is the term assigned to this form of ‘voice phishing’. These guys will often speak your language and are exceptionally friendly and helpful. It is their aim to gain your trust. 

Another form of phishing attack is via text messages, and has been annotated the term Smishing (SMS Phishing). It is imperative that you do not entertain unsolicited emails, texts or conversations, especially where your payment card- or personal banking information is involved. 

Having said this, it is not all “doom and gloom”. As users of social media, the internet and multiple devices it requires of us to be vigilant and alert. The battle begins with each of us being knowledgeable and ensuring that we stay up to date with the latest trends in the field of cybercrime. 

To reiterate, never share any of the information typically required to do online transactions. This include the full card number, the card expiration date and the CVV number. You are encouraged to rather contact the bank via the contact centre or the branch to confirm if there really is a problem with their account. 

When receiving an email or a voice note, do not allow yourself to be drawn into emotional urgency to act on it without confirming its legitimacy.  

Due to diverse technological inventions, criminals have found more cunning ways to deceive us and access our funds. You can help prevent phishing scams by starting to be mindful of being mindful of the information that you share. Let us all be mindful of what we share on social media, think before you post.

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ILO Launches Media Toolkit on Reporting on Labour Migration

5th July 2024

Cape Town: The International Labour Organization (ILO), in collaboration with the International Organization for Migration, launched the Southern African Migration Management Project (SAMM) media toolkit on reporting on labour migration within the Southern African Development Community (SADC) region last week. This toolkit is designed to guide journalists and media professionals in balanced and factual reporting on labour migration, thereby enhancing the quality and media coverage of migration issues within the SADC region.

Furthermore, the toolkit aims to advocate for behavioural changes among migrant workers, employer organizations, trade unions, civil society organizations, governments, and policymakers to improve conditions for migrants and reduce exploitative practices.

At the official launch, Gloria Moreno Fontes, SAMM Project Manager, stated that the toolkit aims to support the United Nations’ “Together, Respect, Security, and Dignity for All Refugees and Migrants” campaign, launched in 2016 by the UN Secretary-General. According to Fontes, the UN Together campaign seeks to promote global action against non-discrimination and address the rising problem of xenophobia against migrants and refugees. TOGETHER is a growing coalition of Member States, private sector entities, civil society representatives, and individuals committed to combating hate speech, changing negative narratives on migration, and strengthening social cohesion between host communities and refugees and migrants.

“Worldwide, migrants are still too often victims of racist, discriminatory, and xenophobic attacks. The media often promotes a toxic public narrative on migration and reinforces stigmatization through the inclusion of xenophobic and discriminatory messages,” Fontes highlighted.

She further noted that the press often portrays migrants as criminals, illegals, and as “stealing jobs from national workers.” She emphasized that migrants frequently become scapegoats during economic recessions, making it essential to change negative perceptions and attitudes through evidence- or fact-based journalism that helps eliminate public misconceptions.

Discussing the importance of balanced reporting and combating hate speech, United Nations Information Center (UNIC) Director Masimba Tafirenyika remarked that journalists hold the power to shape public opinion and influence societal norms. He continued, noting that the practice not only ensures a well-informed public but also upholds the democratic values of fairness and justice.

“Alongside balanced reporting, the rise of hate speech, especially on digital platforms, presents a growing threat to social cohesion and democratic values. Hate speech undermines social harmony and can incite violence, discrimination, and prejudice,” Tafirenyika noted.

According to the UNIC Director, balanced reporting builds public trust in the media as audiences perceive journalists as fair and unbiased, thus making them more likely to trust the information presented. He added that this trust is crucial for the media to uphold democracy, as it empowers citizens to engage in informed debate and hold their leaders accountable.

However, Tafirenyika pointed out that the media landscape in Southern Africa, with a few exceptions, is often marred by political interference, economic pressures, and, in some cases, self-censorship. “These factors can lead to biased reporting, where certain voices are amplified while others are marginalized. When media outlets become mouthpieces for political agendas, the public’s trust in journalism is eroded, and the democratic process is undermined. Therefore, it is essential for journalists and media organizations to adhere to ethical standards of fairness, accuracy, and impartiality,” the UNIC Director noted.

He further highlighted that hate speech poses a significant threat to social cohesion and stability, especially in Southern Africa. “The digital age has amplified the reach and impact of hate speech. Social media platforms, while offering opportunities for free expression and civic engagement, also provide a breeding ground for hate speech,” Tafirenyika concluded.

 

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CEO Africa Roundtable: Mnangagwa advocates for technological embrace

17th June 2024

The CEO Africa Roundtable has emerged as a pivotal platform for shaping national, regional, and international development dialogues through public-private engagements. At the annual CEO Africa Roundtable event held in Victoria Falls, Zimbabwe, President Emmerson Mnangagwa exhorted business leaders to embrace technology and leverage indigenous solutions to stimulate Africa’s economic growth.

Mnangagwa highlighted that the presence of delegates from across the continent signifies the business community’s confidence in Zimbabwe’s trade and investment environment, as well as in the broader regional (SADC) and continental markets.

Addressing the theme, “The Future of Africa: Modernize, Reshape, and Grow,” President Mnangagwa asserted that this theme aligns with Africa’s developmental aspirations, emphasizing the need “to innovate in order to increase production and productivity, as espoused in the African Union’s Agenda 2063: The Africa We Want.”

He remarked that the Roundtable provides its members with a valuable platform for networking, gaining expert insights, sharing experiences regarding the local business environment, and proposing policy recommendations aimed at enhancing the business operating environment.

The President lauded the CEO Africa Roundtable and its partners for organizing focused discussions, dialogue sessions, and innovative platforms tailored to various key economic sectors as part of the event.

“Innovation and the use of information communication technology are critical enablers as we traverse the journey towards modernizing and reshaping the African continent’s economic landscape,” Mnangagwa stated.

According to Mnangagwa, the world is on the cusp of a technological revolution that is transforming how “we work and relate to one another.” He noted that this shift involves a fusion of technologies that blur the lines between the physical, digital, and biological spheres.

This technological disruption is affecting every industry, hence Mnangagwa urged business leaders and policymakers to capitalize on the fourth industrial revolution, which holds the potential to elevate global income levels and enhance the quality of life for populations worldwide.

President Mnangagwa challenged African business leaders to be innovative, embrace their identities, and devise homegrown solutions. He asserted that Africans possess the platform and intelligence to elevate the continent’s economy to greater heights.

Earlier, CEO Africa Roundtable Chairman Oswell Binha indicated that the platform is expanding across Africa. He welcomed the addition of three new chapters in Botswana, Malawi, and Zambia. He further noted that more chapters will be introduced as part of efforts to foster collaboration among African businesses, harnessing the principles of the Africa Free Trade Area and regional integration. Over 300 delegates from across Africa attended the CEO Roundtable event in Victoria Falls.

 

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