Kgori Capital removes Bakang Seretse as shareholder
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Kgori Capital has announced decision to remove Bakang Seretse as a shareholder of the company. This follows the resignation of our former Managing Director Bakang Seretse. “Our shareholder’s agreement states that shares will only be held by those that are employed by Kgori Capital. Thus, we have already started the process of removing Mr. Seretse from our shareholders list,” reads the statement.
Meanwhile it has been stated that Mr. Alphonse Ndzinge and Ms. Sharifa Noor are currently Joint Executive Managers of Kgori Capital. Kgori Capital managers say they take confidentiality extremely seriously. “Thus, we are saddened by the carefree and casual way extremely confidential information about clients and client dealing is being circulated. This is particularly so on social media. We would like to state and gently remind people that we are talking about people’s livelihoods.
We are talking about people’s jobs and careers. We plead with all to restrain themselves from speculation. We are prepared to engage on the facts as we have them.” Kgori Capital is a home-grown Asset Management Company that has always strived to make an enduring difference. We set out to do better for our country. We set out to demonstrate that, indeed, a 100% citizen owned and run Asset Manager can serve the likes of BPOPF as well as anyone else in the world. In fact, it is our conviction that our intrinsic understanding of the lay of the land here in Botswana provides us a distinct advantage over others.
“We are patriots and thus take the responsibility that has been bestowed upon us by so many entities extremely seriously. Our brand promise has always been to “Invest with Pride” and we chose the Kori Bustard as our symbol. This great bird spends 70% of its time on foot. Our Kgori icon remains grounded, symbolising a stable, trustworthy and reliable company. The Kori Bustard is however always on the move, always learning and growing. This is what Kgori Capital is about,” says a statement from the company.
We are thus incredibly saddened by the topic that has gripped the Nation over the last couple of weeks. We ourselves have not got all the facts yet as this topic appears to be incredibly complex, and with multiple layers. We would like to start by categorically stating several facts that we believe will help clarify some miscommunications that are doing the rounds:
“At Kgori Capital, we take Corporate Governance extremely seriously. Any infringements of set policies are dealt with rapidly and with consequences. Issues such as non-disclosure of conflicts of interest are dismissible offences at Kgori Capital; We pride ourselves in having extremely high standards for our operational controls. We are in fact one of the few Asset Management Operations in Botswana that have a Dedicated Compliance Officer. This ensures that we can provide great assurance to our clients and regulators through the vigorous and daily monitoring of our internal controls and systems.
While the trend in the sector has been a high turnover of staff at asset management companies. We at Kgori Capital have seen a steady growth curve. Today, we lead the best Investment team in Botswana which is 100% staffed by Batswana. We are consistently ranked a leader in investment performance by Alexander Forbes Asset Manager Watch.”
“Kgori Capital is a Botswana focused investment manager, and proudly so. We provide client driven local and international investment solutions to pension funds, corporates, charities, and private clients. We understand the responsibility upon us and the trust that so many place in us, and work to deliver on our promise to all in everything that we do. This we do with the utmost focus on delivering value and results in a truly unique and transparent manner.
We are a Botswana business that has always aimed high. And we believe we are a testament to the fact that we as Batswana can make our mark and an evident difference in the market. We understand that this topic has, by association, tarnished our brand, and this is most regrettable given that not all the facts have been established as yet. Despite this, we have an unwavering commitment to our stakeholders, customers, supporters, family and friends whom we look forward to continuing to serve well into the future.”
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Malawi appeals for help over Cyclone Freddy at PAP
As of yesterday evening, the death toll from the Cyclone in Malawi had risen from the initially reported 190 to 225 in a short period of time, over 20 000 people have been displaced, and the worst of fears are yet to come as the fatalities continue to mount. This was reported by a Malawi Member of Parliament attending the Pan African Parliament session in Midrand, South Africa, Hon Steven Mikiya.
Mikiya was giving a statement on behalf of Malawi as the ongoing Pan African Parliament in South Africa.
Mikiya said the Cyclone has wreaked the most havoc in our country’s Southern Region. “The Southern Region, has been hardest hit with widespread heavy rains and strong winds. This caused a rapid rise in water levels and subsequent flooding. Meanwhile, power supply has been disrupted, roads blocked off and rendered impassable and mudslides have also been widely reported,” he said.
He made a special appeal to the PAP: “Where I come from, there is a parable which I would like to share with you which says, “mzako weniweni umamudziwa panthawi ya mavuto.” Simply put, a friend in need is a friend indeed or put loosely, a person who helps at a difficult time is a friend you can rely on.”
Mikiya continued: “Yes! Misfortune has knocked on our door and left in its wake a trail of death and destruction that may take years to fully recover from. However, amidst these difficulties, I have every reason to believe that sometimes when you are in a dark place and think you have been buried, you have actually been planted. My belief, Mr. President, arises out of my faith in this gathering and out of the conviction that it is not coincidental that Cyclone Freddy hit Malawi and Mozambique while the delegations of both countries are here.”
According to Mikiya, the level of destruction, the loss of life, property and the decimation of the entire fabric of established communities has been unprecedented. He noted that all this, is coming at a time when Malawi was starting to show signs of recovery from the deadly COVID-19 pandemic that also came hard on the heels of Cyclone Ana and Cyclone Gombe that left a similar trail of devastation and destruction in Malawi and neighbouring countries.
As of Sunday, this week, from the 12th of March, Malawi and Mozambique have been facing the devastating effects of Cyclone Freddy that made a landfall over Mozambique on Saturday the 11th and reached Malawi by Sunday the 12th of March.
The Malawi legislator said he has absolute faith in the Pan African Parliament, which he described as “a league of nations brought together by a shared ancestry, history, identity as well as our beloved continent which we inhabit”.
Meanwhile, Malawi President, Lazarus Chakwera, has declared a State of Disaster in the affected areas effectively appealing for local and international support for the affected families.
Mikiya appealed to the Pan African Parliament drawing “positive” inspiration from Europe which rallied around Turkey after the destructive earthquakes to bring the much-needed relief and humanitarian aid to the people of Turkey.
He said Africa should demonstrate to the world that the African Union and its Organs are not mere talk shows, but effective institutions which stand up when it matters most.
“Alone, it may take us a lifetime to fully recover, but together, in the Pan-Africanist spirit of Ubuntu, our lives and livelihoods will return to a semblance of normality in record time. This is the time to live by our operative mantra, “One Africa, One Voice.” Mikiya concluded.