Khama, Masisi disown NPF scandal
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The defence attorney in the controversial money laundering scandal, Kgosietsile Ngakaagae had to be rescued by Regional Magistrate Christopher Gabanagae for him to freely present his case and name his alleged beneficiaries of the P250m in question as prosecution officials kept interjecting every time he mentions a name of the top government official.
In what initially seemed to be a usual mention, things subsequently took a nasty turn after several futile attempts by Ngakaagae to have his clients’ bail conditions relaxed. The prosecution of three-man team called the Directorate on Corruption and Economic Crime (DCEC) investigating officer Andria German to brief the court on the complexity of the investigations and the danger of releasing the passports to the accused persons.
German told the court that their investigations have so far been extended to outside the country, “Specifically South Africa, Italy and UK. We uncovered materials that are of evidential value that have been hidden in these jurisdiction. And the materials are linked to Bakang and other persons not before court,” he noted. “If bail conditions were to be relaxed, there would be prejudice on our investigations.”
It was then that Ngakaagae asked the investigator if Bakang’s co-accused Botho Leburu and Kenneth Kerekang occupied any specific accounts and materials in the alleged jurisdictions and the investigator responded in the negative. He also stated that while he did not know whether Bakang also held any account outside, but he was linked to some property in South Africa.
Ngakaagae then insisted that the investigator mention the place and properties in question so that his clients assist him (investigator) with any information and documentation they needed, but the investigating officer refused. Ngakaagae then asked what harm Leburu and Kerekang would do since they did not hold anything outside the boundaries of Botswana, but the investigating officer stated that they were nonetheless a threat to their investigations.
It was then that Ngakaagae charged and asked the investigating officer if he was aware that the DISS boss Isaac Kgosi wired P118m from the money in question to Israel, when the Prosecution Senior Counsel Wesson Mantswe interjected and said it was not in order to talk about Kgosi in his absence.
Ngakaagae then stated that he was trying to prove to the court that his clients were not a threat in any way as the big fish involved in the matter were walking free men. The magistrate then ruled that Ngakaagae should be left to cross-examine the investigator. He then asked the investigator the question again where he responded in the affirmative. His follow up question was whether he has also seized Kgosi’s passport and the response was in the negative.
Ngakaagae went on and revealed that President Ian Khama, his vice Mokgweetsi Masisi, Ministers Thapelo Olopeng and Sadique Kebonang and Satar Dada on behalf of the BDP benefitted from the money at the centre of dispute. He was however told to hold his submissions when he first mentioned Khama, and was again rescued by the magistrate citing that he was only cross-examining the investigating officer. According Ngakaagae, Khama’s caravan as well as a house built for him was financed through the National Petroleum Fund.
Meanwhile Masisi, who will succeed Khama as president at the beginning of April, is reported to have been given P3 million from the fund. Other beneficiaries include Minister of Youth Empowerment, Sport and Culture Thapelo Olopeng, whom the court heard he got P70 000 from the accused; long time party treasure Satar Dada as well as Minister of Minerals, Energy and Green Technology Advocate Sadique Kebonang.
Ngakaagae told Gaborone Regional Magistrate Christopher Gabanage this week that he was still to expose more people to try and help the DCEC with investigations because they were doing a shoddy job. The DCEC chief investigator Andria German confirmed that Masisi was questioned with regard to the money which was given to him, but claimed ignorance on the benefit attributed to President Khama. Khama will leave office at the end of this month.
Yesterday (Friday) government released a statement denying that Khama and Masisi did not ‘withdraw’ money from the Petroleum fund. “This office has noted reports to the effect that H.E the President and His Honour the Vice President have received money from the National Petroleum Fund (NPF),” reads the statement.
“While we are reluctant to comment on allegations emanating from a matter that is currently before the courts, we wish to reassure the Public that His Excellency the President and His Honour the Vice President have not received money and/ solicited funds from the NPF.”
Olopeng has also come clean on the matter, as he shared on his media platforms that he has very met or asked for financial help from Seretse. “I have no business with the said fund and I have never asked for financial assistance from anybody who deals with this fund,” said Olopeng.
“So who ever mentioned my name in this matter was malicious, and he obviously has an agenda to tarnish my name. I give him permission to produce evidence and share it with the public.” A statement from Olopeng’s attorneys, Modimo and Associates categorically distances the Minister from Ngakaagae’s allegations.
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BTC launches the 3rd Francistown Marathon 2024 and handover proceeds to the 2nd Francistown Marathon beneficiaries
Botswana Telecommunications Corporation Limited (BTC) has announced that its 3rd Francistown Marathon will be held on Saturday 20th April 2024 at Obed Itani Chilume Stadium in Francistown. The BTC Francistown Marathon is officially recognised by World Athletics and a Comrades Marathon Qualifier will offer race categories ranging from 42.2km, 21.1 km, 10km, 5km fun run, 5km peace run for children and has introduced a 5km and 10km categories for wheelchairs athletics.
BTC also used this opportunity to announce beneficiaries who received donations from proceeds made from the 2nd BTC Francistown Marathon that was held on April 23rd 203. BTC donated a play area, plastic chairs and wooden tables for pupils worth a total of thirty eight thousand, one hundred and three pula, fifty thebe each (P38, 103.50) to Monarch Primary School, Tatitown Primary School, Mahube Primary School and Gulubane Primary School. Ditladi and Boikhutso clinics each received a donation of benches, television sets and 10, 000 litre water tanks worth thirty seven thousan, eight hundred and ninety eight pula (P 37, 898.00). Additionally, BTC also donated seventy thousand pula (P70,000.00) to their marathon technical partner, Francistown Athletics Club (FAC) which will be used for daily operations as well as to purchase equipment for the club.
The BTC Francistown Marathon aligns seamlessly with BTC’s corporate social investment programme, administered through the BTC Foundation. This programme is a testament to BTC’s dedication to community development, focusing on key areas such as health promotion. The marathon, now in its third year, not only promotes a healthy lifestyle but also channels all proceeds to carefully chosen charities as part of BTC’s commitment to impactful and sustainable projects.
Speaking at the launch, the BTC Managing Director Mr Anthony Masunga stated that the marathon underscores BTC’s commitment to community upliftment and corporate social investment. He stated that “the annual event which has been in existence since 2016, having taken a break due to the covid and other logistical issues, is instrumental to the economic upliftment of the city of Francistown”. He congratulated all the beneficiaries for having been nominated to receive the donations, adding that “the donation of proceeds from the 2023 marathon aims to highlight BTC’s commitment and heart for Batswana and our continued impact in the different industries”.
He further stated that through this marathon, “we demonstrate our steadfast commitment to having a good influence on our communities, this event is a manifestation of our dedication to promoting education and a healthier, more active society”. He concluded by stating that “BTC looks forward to another successful marathon that will leave a lasting positive influence on the greater Francistown community and the country at large” he said.
Giving welcome remarks, the Councillor for Donga, Honourable Morulaganyi Mothowabarwa stated that “he is ecstatic that BTC is collaborating with the City of Francistown on yet another installment of the Marathon”. He continued to offer his support to BTC to enable this marathon to continue over the coming years, stating that the “CSI element is a welcome development that helps empower our communities”, he said.
The 3rd BTC Francistown Marathon is officially open for registrations and athletes may use the following platforms to register and pay; through Smega by dialling *173# and choosing opton 5, then choose Option 3 for the Francistown marathon, at any BTC store or by visiting the BTC website and clicking on the BTC Francistown Marathon and choosing the relevant options.
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Letsholo lauds President Masisi’s digitization in fight against corruption
Thapelo Letsholo, Member of Parliament for Kanye North, delivered a moving speech at the United Nations International Anti-Corruption Day commemoration, praising President Dr. Mokgweetsi Eric Keabetswe Masisi’s digitalization initiative in the fight against corruption. Letsholo highlighted the importance of embracing digitalization in governance as a crucial step in curbing corrupt practices.
According to Letsholo, the implementation of digital systems in government services can significantly reduce direct interactions between citizens and officials, which often serve as fertile grounds for corruption. By minimizing these opportunities for illicit activities, the efficiency and transparency of public services can be enhanced. Letsholo pointed to Estonia’s success in digital governance as an example, where public services have become more transparent, accessible, and efficient.
The MP commended President Masisi’s commitment to digitalization and E-Governance, emphasizing that it aligns with global anti-corruption standards. He called for full support and active participation from all sectors to ensure the success of this initiative.
Letsholo also stressed the importance of improving detection methods and refining whistleblower laws to effectively combat corruption. He highlighted the unseen and unspoken facets of corruption as its lifelines, emphasizing the need for robust detection mechanisms and a system that encourages and protects whistleblowers.
Addressing the societal role in fighting corruption, Letsholo focused on the crucial role of everyday citizens and civil servants who often witness corrupt practices firsthand. He acknowledged the existing reluctance to report corruption due to the perceived risks of repercussions. To change this narrative, Letsholo advocated for creating an environment where staying silent is deemed more detrimental than speaking out. He called for a cultural shift where the potential benefits of exposing corruption outweigh the risks, ensuring that whistleblowers are protected and feel secure in coming forward.
Letsholo called for collective responsibility and action in creating a system that not only detects and reports corruption but also supports those who stand against it. He expressed hope that under President Masisi’s digitalization initiatives, the future of governance in Botswana will be characterized by integrity, transparency, and accountability. Letsholo’s speech resonated with the sentiments of hope and determination that permeated the commemoration, emphasizing the need for unity in the fight against corruption.
In summary, Letsholo lauded President Masisi’s digitalization initiative in the fight against corruption, highlighting its potential to curb corrupt practices, enhance efficiency and transparency in public services, and align with global anti-corruption standards. He emphasized the importance of improving detection methods, refining whistleblower laws, and creating an environment where speaking out against corruption is encouraged and protected. Letsholo called for collective responsibility and action in creating a future characterized by integrity, transparency, and accountability in governance.
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FaR property assets value clock P1.47 billion
FaR Property Company (FPC) Limited, a property investment company listed on the Botswana Stock Exchange, has recently announced its exceptional financial results for the year 2023. The company’s property asset value has risen to P1.47 billion, up from P1.42 billion in the previous year.
FPC has a diverse portfolio of properties, including retail, commercial, industrial, and residential properties in Botswana, South Africa, and Zambia. The company owns a total of 186 properties, generating rental revenues from various sectors. In 2023, the company recorded rental revenues of P11 million from residential properties, P62 million from industrial properties, and P89 million from commercial properties. Overall, the company’s total revenues increased by 9% to P153 million, while profit before tax increased by 22% to P136 million, and operating profit increased by 11% to P139 million.
One notable achievement for FPC is the low vacancy rate across its properties, which stands at only 6%. This is particularly impressive considering the challenging trading environment. The company attributes this success to effective lease management and the leasing of previously vacant properties in South Africa. FPC’s management expressed satisfaction with the results, highlighting the resilience of the company in the face of ongoing macroeconomic challenges.
The increase in profit before tax can be attributed to both an increase in income and effective control of operating expenses. FPC managed to achieve these results with fewer employees, demonstrating the company’s efficiency. The headline earnings per linked unit also saw an improvement, reaching 26.92 thebe, higher than the previous year.
Looking ahead, FPC remains confident in its competitiveness and growth prospects. The company possesses a substantial land bank, which it plans to develop strategically as opportunities arise. FPC aims for managed growth, focusing on consumer-driven developments and ensuring the presence of supportive tenants. By maintaining this approach, the company believes it can sustainably grow its property portfolio and remain competitive in the market.
In terms of the macroeconomic environment, FPC noted that inflation rates are decreasing towards the 3% to 6% range approved by the Bank of Botswana. This is positive news for the company, as it hopes for further decreases in interest rates. However, the fluctuating fuel prices, influenced by global events such as the war in Ukraine and oil output reductions by Russia and other Middle Eastern countries, continue to impact businesses, including some of FPC’s tenants.
FPC’s property portfolio includes notable assets such as a shopping mall in Francistown with Choppies Hyper as the anchor tenant, Borogo Mall located on the A33 main road near the Kazungula ferry crossing, and various industrial and commercial properties in Gaborone leased to Choppies, Senn Foods, and Clover Botswana. The company also owns a shopping mall in Mafikeng and Rustenburg in South Africa.
The majority of FPC’s properties, 85%, are located in Botswana, followed by 12% in South Africa and 3% in Zambia. With its strong financial performance, competitive position, and strategic land bank, FPC is well-positioned for continued growth and success in the property market.