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CMB and NBFIRA tussle in court

Non-Banking Financial Authority (NBFIRA) has dragged Capital Management Botswana (CMB) before the high court on issues of financial crime and the needy for a regulator to take care of the P422m pension funds in possession of CMB.

BNFIRA wants the court to confirm the appointment of the regulator Peter Collins whom it appointed on January 31, 2018. It also wants the court to make an interpretation on whether NBFIRA as the regulator was supposed to investigate CMB, appoint a statutory manage and then inform CMB, or whether it was legally bound to consult CMB before the appointment of the statutory manager.

The court heard that, the regulator appointed the statutory manager and later consulted CMB, but CMB would not buy that. It opposed the appointment. CMB is opposing the manner in which the regulator came to the appointment of the statutory manager, and is also challenging the appointment of Collins, citing that he is contradicted as he recently challenged CMB and threatened its liquidation before court. It is because of these reasons that CMB could not agree to the appointment of the manager, and/or specifically Collins.

Presenting his case before Judge Omphemetse Motumisi, Advocate A Daniels stated that BNFIRA’s move was intended to protect BPOPF pension and life savings of people protected. “The regulator receives complaints from time to time. And sometimes the complaint may not have sufficient proof at the time of complaining,” he stated.

It was then that Judge Motumisi interjected and told the advocate that it was common cause that an offence must have elements. And he asked if the regulator also ought to have these elements in considering the case brought before him. And the advocate’s response was that it was not for the regulator to carry out investigations, but to appoint a statutory manager who will do the investigation and report to the regulator.

On the one hand, Advocate and part-time Judge Charles Thompson argued on behalf of CMB that NBFIRA’s action was prompted by the liquidation case that they had against them in order to conjure up a case of lack of financial soundness on the part of CMB. He said CMB was not under any investigation by the DCEC.

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BDP decides Balopi’s fate

22nd November 2021
Balopi

The Botswana Democratic Party (BDP) Central Committee (CC) meeting, chaired by President Dr Mokgweetsi Masisi late last month, resolved that the party’s next Secretary-General (SG) should be a full-time employee based at Tsholetsa House and not active in politics.

The resolution by the CC, which Masisi proposed, is viewed as a ploy to deflate the incumbent, Mpho Balopi’s political ambitions and send him into political obscurity. The two have not been on good terms since the 2019 elections, and the fallout has been widening despite attempts to reconcile them. In essence, the BDP says that Balopi, who is currently a Member of Parliament, Minister of Employment, Labour Productivity and Skills Development, and a businessman, is overwhelmed by the role.

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BDF-Namibians shootings autopsy report revealed

22nd November 2021
BDF

The Botswana Defence Force (BDF)-Namibians fatal shooting tragedy Inquest has revealed through autopsy report that the BDF carried over 800 bullets for the mission, 32 of which were discharged towards the targets, and 19 of which hit the targets.

This would mean that 13 bullets missed the targets-in what would be a 60 percent precision rate for the BDF operation target shooting. The Autopsy report shows that Martin Nchindo was shot with five (4) bullets, Ernst Nchindo five (5) bullets, Tommy Nchindo five (5) bullets and Sinvula Munyeme five (5) bullets. From the seven (7) BDF soldiers that left the BDF camp in two boats, four (4) fired the shots that killed the Namibians.

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Gov’t confused over Moitoi’s UN job application

22nd November 2021
VENSON MOITOI

The former Minister of Foreign Affairs and International Cooperation, Pelonomi Venson-Moitoi’s decision to apply for the positions of United Nations Special Representative of the Secretary-General (SRSG) and their deputies (DSRSG), has left the government confused over whether to lend her support or not, WeekendPost has established.

Moitoi’s application follows the Secretary-General’s launch of the third edition of the Global Call for Heads and Deputy Heads of United Nations Field Missions, which aims to expand the pool of candidates for the positions of SRSG) and their deputies to advance gender parity and geographical diversity at the most senior leadership level in the field. These mission leadership positions are graded at the Under-Secretary-General and Assistant Secretary-General levels.

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