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Friday 06 FRINovemberDAY 10 JULY 2020 2020 - 12 November- 16 JULY 20202020 VOL.VOL. 22 ISSUEISSUE #303#320 VAT#:VAT#: C31201701111C31201701111 PRICE:PRICE: BWPBWP 10.5010.50 (Inc.(Inc. VAT)VAT) HigH Court GUMAstops r MOYO‘Sam's debt Open an accountOpen an enriP100CHmentm WEB plot account • tells ram to return sHares of nine Companies He Held as deBt seCurity from your • ram Has Been Claiming tHe Companies owed Him • ram Held tHe sHares in His name altHougH tHey were meant for CHoppies couchfrom your in OFstory DEBT on page 09 Self-exiled MP and former junior minister Samson Moyo Guma is couch in fighting tooth and nail to prevent liquidation of his part owned 15 minutes company, United Refineries Botswana (Pty) Ltd, which owes creditors over P100 million. Staff Writer KABO RAMASIA reports 153 minutesdocuments story on page 03, 05 & 08 3required documents 48required hours and 48your hours card and is yourdelivered card tois deliveredyou to you Scan now and Scagiven it now a try. and give it a try.

LetLoLe Ceo hits baCk Download the SC Mobile against CriminaL Charges Botswana App today. SEFALANAstory on pages 03 & 08MD IN Download the SC Mobile Botswana App today. INSIDE BotswanaALLEGED falls Hig FINANCIALH Court BtC CeleCRIMEBrates For more information, visit our website or call intoIssues Covid-19 of disclosure and insiderC tradinglips “Butterfly’s” lie at the heart of the conduct40 years of the ofMD of Sefalana us on 361 5800. reGroup,Cession Chandra Chauhan, whenwings he recently went on a buying spreeprogress of the company’s shares For more information, visit our website or call Creditin the ratingbuild-up agency, to Moody’s,the award have of Botswana’sDisgraced Directorate lottery oftender Intelligence to Grow BTC Mine kicked Africa off (Pty)a programme Ltd, which to mark us on 361 5800. isprojected owned largely a long-lasting by Sefalana African Group and while Security Chauhan Service is (DISS) the biggest agent singleits 40th shareholder anniversary in as Sefalana Botswana’s aftereconomies institutional recession that shareholders. will severely StaffWelheminah Writers “Butterfly” KEABETSWE Maswabi NEWEL has pioneering and KITSO and leading DICKSON technology report and hit Botswana together...page 02 suffered a setback when... page 03 telecommunications...page 13

story on page 11 & 13

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Terms and conditions apply. THE BUSINESS WEEKLY & REVIEW 2 Friday 06 November 2020 - 12 November 2020 www.businessweekly.co.bw News COVID-19 cripples INSIDE

News 2-7 Tax & your Pocket 8 Botswana economy Companies & Markets 9-16 • Econsult report focuses on impact of Covid-19 TEAM Kabo Ramasia in June 2019. The decline in nation open to the dire economic by 23 percent when compared Staff Writer GDP was driven by (a) halt in effects of the Covid-19 pandemic, to the previous corresponding Editor-In-chief diamond trading activity during it asserts. “So much so that both period of Q2 2019. There were Keabetswe Newel ven as Botswana moved the quarter (April 2020), which S&P and Moody’s ratings agencies [email protected] broad-based declines under with speed to combat the subsequently led to the mining changed the country’s medium- all import categories barring impact of the Covid-19 sector contracting by 18.6 term outlook from stable to diamonds, which experienced Business Editor E Kitso Dickson pandemic on human life, the percent.” negative, citing the adverse a significant uptick in June, crippling effects of the disease Econsult says unlike in the 2008 effects on these (diamonds and [email protected] according to the report. were already felt by economies financial meltdown, the private tourism) by the pandemic as the The reports draws special around the world, including sector has not been immune to main reason behind the change.” attention to the value of exports Sub Editor Botswana. the downturn occasioned by the However, the report observes which significantly decreased in Douglas Motheo [email protected] According to a report by coronavirus. “The non-mining that both rating agencies retained the second quarter of 2020. “Total Econsult titled “The Impact private sector (NMPS) shrank by the country’s grade credit rating, exports declined by 66.8 percent HEAD OF Graphics of the Covid-19 Pandemic on 3.7 percent, of which the Trade meaning that there are robust compared to the previous quarter Taelo Maphorisa Botswana Revealed” released sector was the hardest hit by economic policy frameworks and and by 75 percent compared to [email protected] this week, in the third quarter the pandemic, registering year- a girding “public sector balance the same period last year,” says DISCLAIMER of 2020 (July-September), the on-year growth of minus 7.9 sheet”. Econsult. impacts of Covid-19 and its percent,” the report notes. According to Econsult, in “Diamond exports declined Commentaries, letters and columns associated lockdowns resulted in “This was mainly due to sharp response to the pandemic, by 68.8 percent compared to present are the views of the authors contraction in GDP and exports declines in the Wholesale (which Botswana took a decision to Q1 2020 and by 77.8 percent and not necessarily those of The Business Weekly & Review for the quarter. includes downstream diamond close borders towards the end of compared to Q2 2019. The “The real economy contracted trading activity) and Hotels & March. Accordingly, as reflected stark decline in exports further PUBLISHED BY by 4.2 percent in the 12 months Restaurants subsectors, which by the report, international trade highlights the need for Botswana to June 2020,” the report states. highlights the negative impact was affected. to diversify her exports beyond THE BUSINESS WEEKLY & REVIEW “This is in sharp contrast to the of the pandemic on both the The reports says during Q2 diamonds in order to reduce Post: Post Net Kgale View 449 ADD, year-on-year GDP growth of 3.6 diamond and tourism markets.” 2020, imports declined by 21.7 the economy’s vulnerability to Gaborone, Botswana percent registered during the Botswana’s reliance on percent when compared to the changes in the already volatile TEL: (+267) 3170 615 corresponding period ending diamonds and tourism has left the previous quarter. It also declined diamond market.”

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Previously Investec Ninety One Botswana Proprietary Limited is regulated by the Non-Bank Financial Institutions Regulatory Authority. Asset Management THE BUSINESS WEEKLY & REVIEW News www.businessweekly.co.bw Friday 06 November 2020 - 12 November 2020 3 GUMA MOYO‘S P100m WEB OF DEBT Self-exiled MP and former junior minister Samson Moyo Guma is fighting tooth and nail to prevent liquidation of his part owned company, United Refineries Botswana (Pty) Ltd, which owes creditors over P100 million. Staff Writer KABO RAMASIA reports ccording to papers filed million would be recognised around was nothing but a hoax. there was no response. Unibulk year but the process had failed to before court, it emerges and accepted as a claim by the “I kept seeking information subsequently wrote to the rescue the company. The creditor Athat when Samson Moyo provisional judicial manager, on the progress of the judicial Master of the High Court raising submitted that in terms of the Guma first placed the company Evans Munalula. Significantly, management but to no avail, pertinent issues regarding the court order placing URB under under judicial management, it was also agreed that Unibulk whereas I am aware that the conduct of the judicial manager. judicial management, as read with the plan was to tactically avoid would withdraw its opposition to judicial manager communicates There was also no response. Section 472(1) of the Companies paying creditors and to drag the judicial management. with creditors through reports UNIBULK APPLIES FOR Act, the judicial manager was the judicial management for as According to Unibulk’s and meetings,” he deposed in the LIQUIDATION OF URB obliged to generate reports of the long as possible rather than to affidavit, its motivation to affidavit. Convinced that it was no judicial management progress rehabilitate the company. withdraw its opposition to the Further, on 15 November longer desirable that the judicial every three months. In the URB As a director and one of judicial management sought by 2019 Unibulk wrote through management order should matter, Unibulk argued, the the company’s significantURB was motivated by its regard its attorneys to the Judicial remain in force, Unibulk applied judicial manager was supposed shareholders, the former MP for for the commercial interests of Manager, Evans Munalula, for liquidation of URB. Unibulk to have produced five reports Tati East and assistant finance both Unibulk and URB. Unibulk requesting an update on the stated that URB had been placed minister made the petition to the believed that the only way to judicial management process but under judicial management for a to page 04 High Court for URB to be placed save and rehabilitate URB was under judicial management. through a judicial management, His arguments were that under which would restore operations, judicial management, the get the plant running and company could be rehabilitated resume production. Further, it and brought back to life, which was agreed that the provisional would enable it to honour its judicial manager, supported by Notice of meeting of creditors financial obligations and save projections in the petition, was jobs. confident that he would acquire Auto Express (Proprietary) Limited - in liquidation It emerges that when applying funding to revive the plant. Reference: LQHGB- 000011/2020 for judicial management, Guma Provisional Judicial Management completely disregarded over P22 was consequently granted on 11 Notice is hereby given that in pursuant to Sections 382(1) and 424 of the Companies million that his company owed February 2019 by Justice Tshepo to Unibulk Botswana (Propriety) Motswagole of the High Court of Act, the first meeting of creditors of the above-mentioned company will be convened Limited, a logistics supplier. Botswana. at the Master of High Court’s Office, Gaborone High Court Building at 0930 hours Unibulk then opposed Moyo’s According to the affidavit (CAT) on Thursday 19th November, 2020 for the following purposes: application, citing deficiencies deposed by Unibulk MD  Consideration of the statement of affairs of the company made in the averments in the Buzeindehut, communication  To receive the Provisional Liquidators report in terms of Section 448 of the application regarding the was maintained between himself financial status of the company. and shareholders of URB, namely Companies Act The opposing applicationGuma himself, Charles Tibe and  Consider and approve claims against the company was spearheaded by Fred Tiezdwe Chapi. This resulted in  Confirmation of appointment of the Liquidator Buzeindehut, Managing creation of a mobile application  To consider and approve the remuneration of the Liquidator Director (MD) of Unibulk. In his group where ideas, proposals and  To consider and approve the resolutions proposed opposing affidavit filed in court, strategies were shared. However, Buzeindehut argued against the to Buzeindehut’s surprise, soon  Any other business concealment and understatement after confirmation of Provisional of URB’s liabilities against its Judicial Management, the other It is recommended that the claims are filed with the Provisional Liquidator at least inflated margins of income. parties in the communication 48 hours before the meeting. No claims shall be received 24 hours before the Another point raised was that platform went quite. According meeting. Further power of attorney / proxy to be used at the creditors meeting shall notwithstanding the picture to Buzeindehut, he concluded painted by Guma in petitioning that either the veil of cooperation be lodged with the Provisional Liquidator or Assistant Master not later than 24 for judicial management, URB was to string Unibulk along until hours before the advertised time of the meeting. was in fact non-operational the final judicial management and had been so for some time. order was granted or there simply Dated at Gaborone on this 26th day of October 2020. After Unibulk filed its opposing was no longer any hope that the affidavit, Guma and his attorneys plans to rescue the company Kalyanaraman Vijay entered into negotiations with would come to any fruition. Unibulk to convince it not to Unibulk noted in its affidavit Provisional Liquidator oppose the judicial management that had it not been misled application. A compromise was that URB had ready funding eventually reached the sentiment towards the rescue of the Audit | Tax | Advisory | Business process solutions | Corporate services terms of which were that the business, it would not have Gaborone office: T +267 395 2313 | F +267 397 2357 | P O Box 1157, Gaborone parties were to withdraw withdrawn its opposition to Francistown office: T +276 241 8961 | F +267 241 8962 | P O Box 101, Francistown respective suits against each judicial management. Further, other. There were other running Buzeindehut argues that the cases in which Unibulk and URB conduct of the Provisional www.grantthornton.co.bw were litigating arising from an Judicial Manager subsequent to agreement that is the source of the granting of the final judicial Unibulk’s claim as a creditor. management left him with no

Further, the parties agreed doubt that the purported desire © 2020 Grant Thornton Botswana. All rights reserved. that Unibulk’s claim for P22 and intention to turn URB  THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 4 Friday 06 November 2020 - 12 November 2020 News 45 YEARS STRONGER TOGETHER … The BIHL Group rings in 45 years at BSE ceremony NPF corruption

Staff Writer that we join our colleagues at the and BIC - as well as its associates case falls apart BSE is a privilege and an honour, – Letshego, Nico Malawi and he Botswana Insurance for it indeed symbolises our FSG Limited - the Grouphas been · Court orders return of millions to Seretse Holdings Limited relationship and commitment to privileged to achieve unrivalled · Co-accused Kgosi pushes for acquittal T(BIHL) Group this the thousands of shareholders and market-leading growth over the month commemorates its 45th stakeholders we so proudly serve years, serving generations of anniversary since first opening every day. Batswana and engineering their doors to serve Batswana on 1st “Our heritage is because of legacies across the country for 45 November 1975, continuing them, and our future is engineered golden years. to engineer legacies across the with their interests and wellbeing Said BIHL Group CEO, financial services space. in mind. It is only fitting that we Catherine Lesetedi: “Our journey The milestone was duly recognise this here, at the BSE, to serve as the Group is only recognised with the ceremonial for it is the work of Mr Thapelo beginning, for excellence is not bell ringing at the Botswana Stock Tsheole and his team that fuels a destination. It is a continuous Exchange (BSE) on 4 November our growth and commitment to journey and a process of nonstop 2020 in the presence of key the capital markets. There are improvement. Always growing, stakeholders of the Group. It was thousands of hands, hearts and always learning, always enhancing a morning of festivity, celebration, minds that contribute to our to become more agile, more and pride in the story of a once growing legacy and we are 45 empowered, more efficient and young lone bull that today years stronger together.” more effective. Our culture is one commands the attention, respect A proudly Botswana of togetherness, of tomagano. and recognition of hundreds of organisation, the BIHL Group “We stand together to celebrate thousands in the region. has delivered great strides in its our past, our evolving present, With 29 years listed on the growth from when it sold its very and our much fought-for future. BSE, the BIHL Group remains first life policy in 1977 to its BSE Despite the challenge the world the largest diversified financial listing in 1991, and to present day has imposed upon us during times services group in Botswana 2020, now offering a diverse range of social distancing and isolation, and a true force to be reckoned of products and services varying nothing can keep our hearts apart. with even in the region, striving from short-term insurance to Nothing can break our spirit, just year after year to deliver true, asset management services as the as nothing has for decades yet. We sustainable impact for and with largest financial services group in are united in heart and harmony, Batswana. the country. in passion and resilience. We are, Said BIHL Group Chairman, Through its three keyin every way, 45 years stronger his property. Batsho Dambe-Groth: “Any time Kabo Ramasia subsidiaries - Botswana Life, BIFM together.” The Lobatse High Court Staff Writer ruled that the DPP, which was represented by Advocate Ernest he corruption case Mosate who is now Deputy in which powerful Director at DCEC) but was personages allegedly T acting on special instructions siphoned off P250 million for the prosecution, hemmed from the National Petroleum and hawed as he tried to argue Fund (NPF) is collapsing. the state’s case. On Wednesday this “There is no doubt in my week, the Directorate of mind that the restraint order Public Prosecutions (DPP) had elapsed after the expiry and the Attorney General of 28 days reckoned from (AG) suffered yet another 13th December 2017 as at the INTEREST RATES FOR NOVEMBER 2018 embarrassment when the time the second respondent Lobatse High Court ruled filed his forfeiture application that money sequestrated INTEREST RATES FOR NOVEMBER 2020 on January 12 2018,” Justice from businessman Bakang Ketlogetswe said and then Seretse be returned to him Actual interest ordered the state to return that Type of deposit Nominal interest Minimum immediately. Type of deposiT nominal inTeresT acTualrates inTeres (effectiveT minimum Seretse’s millions within 24 accounaccountT raTesrates p.a. p.a. raTes (effecTive p.a.) balancebalance (bW p(BWP)) Seretse had sued for return hours. p.a.) his property (money) that Deposits Seretse’s victory comes soon Deposits he argued was in unlawful after the court reviewed and Current 0.00% 0.00% 1,000 custody of the state and Justice Current 0.15%-1.00% 0.15%-1.00% 1,000 set aside all charges faced by CALL DePOSIt 0% - 1% 0% - 1.01% 1,000 Gaopalelwe Ketlogetswe 1.00%-2.25% 1.00%-2.27% 1,000 the Kebonang twins, former CallSAVI depositnGS 0% - 0.25% 0% - 0.25% 500 ruled in his favour, saying minister Sadique and High Savings 0%-2.00% 0%-2.02% 500 the matter was urgent and 91 Days Fixed Deposit 1.50% 1.51% 1,000 Court judge Dr Zein Kebonang, that detention of Seretse’s 916 Monthsdays 3.00%1.55% 1.56%3.03% 1,0001,000 whose charges also emanated property unlawful. from the alleged looting of the 6 12months Months 1.65%3.25% - 1.7% 1.66%3.29% - 1.71% 1,0001,000 Acting for Seretse, defence NPF. 24 Months 1.75% 1.76% 1,0001,000 lawyer Kgosietsile Ngakaagae 12 months 3.50% 3.55% Failure to adduce evidence Over 24 Months 1.75% - 1.8% 1.76% - 1.81% 1,000 had brought an application 18 months 4.00% 4.06% 1,000 convincingly linking the that for his client’s companies, charges to the Kebonang twins 24 months 4.25% 4.32% 1,000 Khulaco (Pty) Ltd, M&B tHe ABOVe IntreSt rAteS Are APPLICABLe W.e.F 09 OCt 2020 has tainted the credibility of Properties (Pty) Ltd, Leomog 36 months and 1,000 the DPP in the case that many Prime rate 4.50% 4.58% 5.25% (Pty) Ltd and Seretse himself. above observers say is headed for a Ngakaagae argued that the collapse. Other rates N/A restraint order given on 13 With that end in its sights, # Deposit interest rates shown above are indicative only. December 2017 had long the defence has challenged the elapsed and Seretse should THE ABOVE INTREST RATES ARE APPLICABLE W.E.F 01.07.2018 DPP to quash all the charges For any query/ information please contact us: therefore have his property Bank SBI Botswana Ltd faced by all the accused, among Prime Rate 6.50% back so that he may be able to 2nd Floor, exponential, Plot no.54351, CBD them founding director general save his businesses. P. O .Box 505243, Gaborone Station Post Office, Gaborone of DISS, Isaac Kgosi, who has The cumulative sum sought #t el:Deposit 3919778 interest rates shown above are indicative only. already approached the courts was P82 million held at Fax: 3919858 on grounds of bad faith and **For amounts above P1million, contact us for special rate. various banks but now with irrationality of the charges he the Office of The Receiver. faces. Ngakaagae told the court Kgosi will know his fate on 26 For any query/ information please contact us: that Seretse’s businesses faced November from Justice Michael Bank SBI Botswana Ltd possible liquidation because Leburu. 2nd Floor, Exponential, Plot No.54351, CBD of the unlawful retention of P. O .Box 505243, Gaborone Station Post Office, Gaborone Tel: 3919778 Fax: 3919858 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw News Friday 06 November 2020 - 12 November 2020 5 GUMA MOYO ‘S P100m WEB OF DEBT

to page 04 his affidavit, Guma says the money. A financing company called, Botswana Telecommunications between 11 February 2019 and company was placed under There are altogether 60 Grandeur Short Term Loan, is Corporation (BTC) is owed over April 2020 but only two were judicial management as per his creditors in a web of debts owed owed P177 704 00. P139 001. produced. own doing because he wanted to by Guma’s company. The total The web further expands to 54 Others include an unending list Unibulk also submitted that save it. In his founding affidavit, money owed by URB to creditors trade creditors, mostly suppliers, of suppliers and service providers. there was no material difference Guma says he has a direct and and service providers amount service providers and employees. In total, Guma’s company owes between the two reports that substantial interest in the affairs to over P103 million. URB owes The trade creditors are owed creditors over P103 million. were dated 25 April 2019 and 27 of URB. He points out that he banks and financing creditors a over P32 million. This is where Guma’s application to stop February 2020, which suggested was the majority shareholder in total of P70.6 million. The Citizen Unibulk leads the pack at over the liquidation is scheduled a copy and paste job. Further, the company at 56 percent and Entrepreneurial Development P22 million. Among other trade to be heard before court on 11 Unibulk stated that it had that he loaned the company P4 Agency (CEDA) is owed the most creditors, Sefalana Holdings December 2020. The court will demonstrated that the judicial million that he needs paid back. at over P26 million. First National Company is owed P2.1 million. make a decision to either order management was not yielding Guma believes that should the Bank Botswana is owed over Water Utilities Corporation for liquidation or not. Efforts to the intended results. In the report company be allowed to liquidate, P25.1 million while Botswana is owed over P1 million, reach Guma, who is in self-exile of 25 April 2019 to creditors, the he and other small creditors like Development Corporation Botswana Power Corporation in South Africa, proved futile at judicial manager is said to have himself may not recoup their (BDC) is owed over P19.3 million. (BPC) is owed over P287 554, the time of going to press. stated that the plant’s window panels, doors and padlocks needed replacement. Further, the report noted that lights were needed to enhance security. It also noted that the refinery’s plant equipment was in a state of disrepair and was dismantled. So were the weighbridge computer and the substation. In the report, the judicial Public Notice manager is said to have stated that repairing the plant was key to the operation of the plant, as BBS Limited customers in Kanye are informed that the automated teller machine (“ATM”) located was repairing the weighbridge in front of OK Furniture has been discontinued. Customers are advised to seek services at BBSL which formed an integral part of Branches closest to them such as the one in Lobatse. the operation of the whole plant. Chinese experts had to be flown into Botswana to restore the Any inconvenience is regretted. plant. Further, there was no water connection into the plant. It is said Thank you. that Water Utilities Corporation agreed to part payment of a P600 000 bill to restore supply and Botswana Power Corporation (BPC) to part payment of a P300 000 bill to reconnect power to URB. Licensing of the plant also had to be renewed upon Kitsiso satisfying various health, safety and environmental requirements. BBS Limited e itsise badirisi ba ditlamelo tsa yone ba Kanye gore mochine wa ATM o o fa pele ga But Unibulk believes that OK Furniture ga o sa tlhole o le mo tirisong. Badirisi ba ditlamelo tsa BBS ba kopiwa go dirisa the judicial manager under- reported the state of the plant. makalana a BBS Limited a a gaufi le bone jaaka lekalana la Lobatse. In his affidavit, the company’s MD, Buzeindehut, says he had Re kopa gore le re inele diatla metsing ka dikgoreletsi dipe tse di bakilweng ke se. physically been at the plant and that it was in serious disrepair as a result of disuse. Nevertheless, the report dated 24 February Re a leboga 2020 was a “copy and paste” of the previous report. From the report, it became apparent that no repairs had been done and that one year down the line, the plant was still in a serious state of disrepair and power and water were never re-connected. According to court documents, the weighbridge computer no longer needed repairing but orking together replacing. Further, the report is said to have omitted mentioning

how much such repair works “ W towards a common goal” would cost. The Chinese experts who were to come and repair the plant were yet to come, more than 12 months down the line. THE WEB OF DEBT As a result of lack of progress in restoration of the company, Unibulk - which is a major creditor at P22 million – has applied for the liquidation of URB. Justice Busang ordered for the provisional liquidation of BBS Limited customers in Kanye are informed that the automated teller machine (“ATM”) located BBS Limited customers in Kanye are informed that the automated teller machine (“ATM”) in front of OK Furniture has been discontinued. Customers are advised to seek services at BBSL Branches closest to them such as the one in Lobatse. Any inconvenience is regretted. Thank you. o fa pele ga ATM BBS Limited e itsise badirisi ba ditlamelo tsa yone ba Kanye gore mochine wa OK Furniture ga o sa tlhole le mo tirisong. Badirisi ba ditlamelo tsa BBS kopiwa go dirisa makalana a BBS Limited gaufi le bone jaaka lekalana la Lobatse. Re kopa gore le re inele diatla metsing ka dikgoreletsi dipe tse di bakilweng ke se. Re a leboga Kitsiso Public Notice URB on 23 September 2020. On 15 “Working together October 2020, Guma filed papers with the High Court opposing towards a common goal” the provisional liquidation. In THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 6 Friday 06 November 2020 - 12 November 2020 News

o understand the present, history can never be It was against this backdrop that ignored. It has to be respected. To cast judgment a young nation had technocrats BTC traces Ton any legacy and measure its success, the tides of and legislators craft and pass time have to be consulted. the BTC Act of 1980. A seed was The year 1980 was of one of southern Africa’s worst planted with a simple creed: “To its footprint periods - political turmoil and economic anxiety and provide telecommunications instability. Our home seemed the only oasis of hope for services to all citizens” regardless the entire regional block. of geography or race. The telco and evaluates To the south, neighbouring South Africa was still concept was designed for the mired in the cruel heresy of apartheid. To the north- benefit of all Batswana. Given east, Zimbabwe was gaining its independence but slowly this heritage, this legacy has to the import degenerating into civil war between the political elite be tested against time, relevance, battling for the new rule along tribal lines. Namibia to global trends, its strategic intent, At BTC, Managing Director Anthony Masunga and his team the west was still 10 years away from breaking free of the leadership and the impact it has adopted an ambitious agenda and brought to life a vision jaws of war and gaining its independence. Mozambique had on communities it set out to conceived in the Parliament of a nascent nation 40 years ago. had hope but was way too far geographically to offer serve. immediate solace to Botswana’s anxieties. In his ‘Infinite Games’ publication, global disruptor and visionary, Simon Sinek, argues that brands fail because their strategic intents are not daring enough. In many instances, he notes, they are premised on products rather than the dynamic ETHICS HOTLINE reflexes of consumer patterns, behaviour and needs – current and anticipated. Has BTC’s purpose and cause catapulted it into the company of the future? Or is it still caught in its historic mandate? How has BTC measured, followed and met the consumer complexity in the last 40 years? How has the leadership fared in daring to dream and see beyond today? The current fruits of the telco giant can be traced back to the FREE - Call Number previous and current leadership of Anthony Masunga who foresaw the need for a significant transition, from a traditional 16133 telecommunications company to Accessible to all local networks an organisation that embraces a strong innovation impetus. [email protected] Throughout his journey, from www.tip-offs.com Head of Product Development, General Manager of the Mobile Business, and Chief Operations Officer right through to his appointment as Managing Director, Masunga oversaw … the transition of BTC from It’s easy to stand with the crowd fixed telephony to a converged telecommunications operator offering fixed, mobile and ICT solutions. This transition included It takes COURAGE the historic listing which created a financial inclusion platform for citizens, breaking all sorts to make a stand. of records and feats for retail investors. Be Part Of The Solution In the last few years, Masunga and his team have ensured that BTC touches all the economic sectors in all parts of the country anchored by its wide network coverage and fast Internet speeds. From the Nteletsa Project in Integrity | Transparency | Fairness | Accountability | Diligence 1999, which brought service to previously under-served remote areas and the launch of its mobile business unit in 2008, to being Botswana’s leading network with over 400 4.5G sites, enveloping all corners of the country, this has indeed been a fulfilling journey. In 2016, the listing of BTC on the Botswana Stock Exchange (BSE) was a watershed moment in economic inclusion, bringing Managed by: more than 50,000 Batswana to the BSE and into BTC ownership. This resulted in the largest and broadest shareholder spread for a listed company in Botswana. Further, BTC has been one of Working Towards Financial Stability the companies with the highest THE PATRIOT WOMAN | OCTOBER - DECEMBER 2020 | 52 | dividend yields on the bourse since listing. Investors could bank THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw News Friday 06 November 2020 - 12 November 2020 7 on a solid entity backed by institutions, telco has demonstrated its agility, pushing and green in all corners of our republic, not Companies that are worth more than retail shareholders and government. The over a billion in revenues, having one of just in major towns and cities.” trillions of US dollars today are on digital financial fulcrum resulted in a corporation the highest yields on the local bourse and Botswana, with its over 2 million platforms for good reason. We have a local with a robust network infrastructure, which driving digital inclusion for all. This is population, should capitalise on BTC’s company which has invested millions on is now a national strategic asset for digital fertile ground for Botswana’s competitive existing digital infrastructure andinfrastructure development. Where are inclusion and economic transformation. strategy and alternative route outside the international partnerships to drive the the young digital masterminds? They can While giving back millions through its seasonal diamond sparkle. next chapter and reach new horizons of its capitalise on the current resources for the Corporate Social Investment programme Says the Managing Director, Anthony economic diversification strategy. next Estonia and Silicon Valley.” delivered through the BTC Foundation, the Masunga: “Our innovations in the last A local expert in innovation has noted: The telco has emerged as a true reflection company’s strategic direction and vision generation and over the last decade have “BTC accepted the challenge and lived up of resilience, aspirations of Batswana and have remodelled Internet consumption driven unique solutions for our customers, to its promises. The Botswana Innovation the government through its endearing for remote sectors out of reach of main both retail and corporate. Our network Hub, BIUST, BTC and other think tanks leadership. It has indeed stood the critical grids and regular networks. Furthermore, remains stable and is an enabler for all. Our should be able to drive and propel the next test of time, making it stronger and well the introduction of VSAT technologies to offerings are tailored for every Motswana chapter of the republic. We house enough poised as the company of the future. an already robust network infrastructure wherever they may be because our primary expertise to drive new revenues for the Masunga has done well to adopt an has meant that customers are connected purpose is to provide seamless connectivity country, not just by creating new features, ambitious agenda with his team that has anywhere and everywhere. The ground experience and to ensure that our customers attributes and benefits for the local and brought to life a vision born 40 years ago is levelled with VSAT because of satellite live connected. Our brand shines bright regional consumer but the whole world. in the Parliament of a young nation. connectivity. No one should be left behind. Farmers and hoteliers deep in the Okavango Delta and everywhere else in this vast country have benefited immensely from the innovation. Market access, finance, bookings and strategy have all been made easy through BTC’s presence in hostile terrain, a feat considered unthinkable by mainstream networks. Those in major cities enjoy fibre to homes which reach up to 100 Mpbs. Another first for BTC’s greatest feats was when the Managing Director stood at the earth station at Kgale and launched the Data Centre. The facility certified by the global data centre standard bearer, TENDER NOTICE the Uptime Institute, was a first for the Botswana market. “BTC’s Data Centre is the first and only Uptime Tier 2 Certified Data Centre in Botswana with assurance BOTSWANA PUBLIC OFFICERS PENSION FUND of resilience and availability,” Masunga noted. “The facility houses BTC’s mission critical IT infrastructure and applications TENDER FOR PROVISION OF ASSET/ INVESTMENT CONSULTANCY (and) acts as a collocation facility for our customers.” SERVICES. TENDER NO: BPOPF/ IM /2020/006 The innovation delivers world-class cloud services to BTC customers and the market. It increases agility and simplification of The Botswana Public Officers Pension 3. The Tender is open to local and IT operations. Customers have access to Fund would like to receive proposals from international registered companies. computer, storage and software defined reputable and experienced companies network resources on demand through the company’s Cloud Management specializing in asset/investment consultancy 4. A non-refundable deposit of Platform. This has been enhanced by a services to assist the Board of Trustees of BWP 5, 000 shall be made via EFT in recent Microsoft partnership for cloud services. The strategic link means BTC is the Fund with the formulation of numerous favour of the Botswana Public Officers ready to host all the data in Botswana many strategies for the investment of the Fund’s Pension Fund. times over with world-class security and pension contributions. Invitation To Tender standards. From its humble beginnings, the telco documents containing details of the BANK ACCOUNT DETAILS giant’s evolution and milestones from requirements are available. fixed telephony to mobile, fibre and cloud today sets an explosion of connectivity for Account Name: Botswana’s economy. The main economic Bidders are required to provide the proof of Botswana Public Officers Pension Fund sectors tap into the rich network for payment and your preferred email address business continuity in fluid seamless where the Invitation To Tender document Bank name: FNBB coverage. Education has become a new gainer in digital inclusion. BTC packages will be emailed. Branch: Corporate for students “everywhere the sun touches” means universal access to education, 1. Alternatively, the tender documents can Account Number: 62098584967 learning and training. BTC is unchallenged in universal coverage for all Batswana. be collected from Branch code: 282267 Its investments in infrastructure and its human capital have delivered an economic solution for the country and all Batswana. Botswana Public Officers Pension Today BTC’s infrastructure is the Fund Proof of payment should be emailed to: backbone of a possible national digitisation Plot 54366,Unit 3,Second strategy. It envelopes Botswana beyond [email protected] the eastern corridor to the hostile terrain Floor,Peelo Place ,Central in the west where no other network Business District , P/Bag Tel: 3717158 would explore. The investments that have gone into the BTC network and digital 00195, Gaborone Botswana. transformation are a solid foundation for the future of trade and doing business in 2. Submissions must be received no later the Big Data era and 4IR. This drive has created a strategic national asset upon than 12 noon, Friday 04 December which Botswana’s next value frontier is 2020. premised. Under the stewardship of Masunga, BTC has now completed a digitalisation journey and evolved to partner with BPOPF IS A PENSION FUND THAT PROVIDES RETIREMENT BENEFITS FOR PUBLIC SERVANTS OF BOTSWANA government as the nation transitions to a Knowledge-Based Economy. The local Tel: 361 7000/391 1445/ 315 8422 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 8 Friday 30 October 2020 - 05 November 2020 News

In Business WITH Thabo Thamane Citizen Entrepreneurial Development Agency (CEDA) Chief Executive Officer (CEO)

INVITATION The Citizen Entrepreneurial Development Agency (CEDA) has FOR PUBLIC COMMENTS ON DRAFT devised robust economic programmes and responses aimed at BOTSWANA STANDARD absorbing the catastrophic effects of the Covid-19 pandemic on small businesses. LAME MODISE nipped down to the Agency for Botswana Bureau of Standards intends to confirm the details this week

following Botswana Standards: Q: The pandemic came at an Agency with an opportunity unexpected time and caught a to empower Batswana to play 1. BOS 221:2006 , Installation of textile floor coverings  lot of organisations off guard. an active role in the protection This Botswana standard gives recommendations for the installation of Did CEDA have something of a and care of citizens, as well as bulwark to guard against any economic stimulation through textile floor coverings and for the selection of appropriate materials. eventuality? the introduction of the Covid-19 The loose laying of squares, rugs, runners, etc., is not included  A: The Agency has always been Essential Supplies Loan. This is very proactive in the field of risk a special loan facility that was 2. BOS 345Ͳ2:2010 , Design and installation of internal and external management through its dynamic extended to companies that ceramic and mosaic floor tiling in special conditions  Compliance Department which serves are involved in production of the entire Agency, including our branch essentials related to Covid-19 This standard gives recommendations for the design considerations and

installation of ceramic wall and floor tiling and mosaics in situations Applications Received Grand Total where there are special functional or environmental requirements and/ (2020/2021) (2020/2021) or conditions that are potentially detrimental to either the installation Number Value Approvals as at 30 October 2020 or the background or both Agribusiness 35,772,613.73

3. BOS ISO 8339:2012 , Building construction Ͳ Jointing products Ͳ 11,576 2,621,076,040.26 Manufacturing 66,952,101.79 Property 34,664,547.09 Sealants Ͳ Determination of tensile properties (Extension to break)  Grand Total Applications Received Services 184,590,917.01 321,980,180 This standard specifies a method for the determination(2020/2021) of the tensile (2020/2021) properties of sealants used in joints in building construction Number . Value Approvals as at 30 October 2020 Agribusiness 35,772,613.73 4. BOS ISO 24011:2009 , Resilient floor coverings – Specification for Manufacturing 66,952,101.79 plain and decorative linoleum 11,576 2,621,076,040.26 Property 34,664,547.09 This standard specifies the characteristics of plain and decorative Services 184,590,917.01 321,980,180 linoleum, supplied as either tiles or rolls  network. Through multiple simulations and/or products that have a high 5. BOS ISO 10577:2012 , Resilient floor coverings – Specification for and scenario-sharing of possible risks to propensity and viability to be rubber sheet floor coverings without backing  business, the Agency was in a position to manufactured during and beyond act swiftly in response to the Covid-19 the period of Covid-19. The This standard specifies the characteristics of rubber sheet floor outbreak. Although no organisation loan ensures heightened citizen coverings without backing  could have predicted the impact of the participation and empowerment pandemic on the economy and everyday in the production and supply of BOBS cordially invites interested parties to provide their views operations, the Agency managed to items such as sanitisers, gloves, th remain effective throughout the various masks and other identified regarding the above mentioned standards by 13 January 2021. lockdown periods and even inculcated essentials to ensure the country’s prescribed health and safety measures sufficiency. The provision of Copies of these standards may be viewed or requested from the throughout all our offices. this loan is still ongoing and we Information Centre of the Botswana Bureau of Standards at Plot Q: As a financier, CEDA survives anticipate that it will remain as on the ability by businesses to a CEDA product offering even No. 55745, Main Airport road, Block 8, Gaborone. Francistown repay their loans but it is evident beyond Covid-19. branch at Plot No. 32367, Donga – Adjacent to Metsef whole- that Covid-19 hit some businesses Q: The informal sector hard. What is the extent of this was one of the hardest sale Francistown problem? hit. Can you share with us A: CEDA and its stakeholders specific programmes tailor- Suggestions which entail revision of the text should indicate the understood the impact of the pandemic made by CEDA to assist this preferred wording and the relevant clauses should be quoted and took a firm, proactive decision to vulnerable sector? ease repayments of loans for our clients A: “Letlhabile” was introduced against. across the board. This intervention was as an informal sector stimulus introduced through the CEDA Covid-19 product specifically focusing on For enquiries please contact: (+267) 364 5403/364 5472/ 390 3200 Relief Fund which focused on working uplifting the informal sector, capital facilitation and providing which is vulnerable as it relies Written comments should be posted, faxed or emailed to: repayment breaks for CEDA clients. The on an active formal sector and CEDA Covid-19 Relief Fund aided our movement of the public whose The Managing Director clients through rescheduling of loans, mobility is often restricted by Att: Manager Engineering Standards restructuring of loans and provision travel restrictions implemented to Botswana Bureau of Standards of working capital for operational control the spread of Covid-19. The Private Bag BO 48 businesses. Although CEDA is a financier, programme was tailor-made for Gaborone, Botswana it is important to note that CEDA is not individuals who predominantly just that but is a development financier, sustain their livelihood through Fax: (+267) 391 0593 meaning that its responsibility is to also business activities at the micro E-mail: [email protected] develop. and informal sector level. It Q: What action did CEDA take provides loans from P500 up to Ref. No.: PC Advert No.10 of 2020 - 21 during the COVID-19 pandemic P10 000 and three-month long to ensure sustainability of moratorium or interest-free

businesses? period to allow businesses to StStandardsandards f foror a betterbette Botswanar Botswana A: The Covid-19 pandemic, although build enough cash flow reserves certainly unfortunate, provided the before they start repaying their THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw News Friday 06 November 2020 - 12 November 2020 9

loans. The Letlhabile facility is offered at all 11 CEDA branches and is supported by Botswana Post as an intermediary to receive applications on behalf of the Agency. Q: Is Letlhabile achieving the desired results? A: The initial budget for INVITATION Letlhabile was set at P10 000 000 FOR PUBLIC COMMENTS ON DRAFT which was allocated for a period BOTSWANA STANDARD of six months. To-date the Agency has funded 5 409 projects to the tune of P24.7 million. Overall, Botswana Bureau of Standards intends to adopt the following the Agency has since April 2020 Draft Standards as Botswana Standards: funded 6 133 projects to the tune of P322.3 million and we expect 1. PDS 93, Waste water — Physical, microbiological and chemical re- these figures to increase as we continue to accept applications quirements — Specification  for all product offerings. This Botswana Standard specifies requirements for physical, microbiological and Q: How would you gauge chemical limits for waste water discharged into a sewer, a watercourse and open the appetite for Letlhabile? environments . A: Based on the current uptake of the product offering, 2. PDS 463, Water quality for irrigation — Specification  it would be amiss of the Agency This Botswana Standard specifies requirements for physical, chemical, biological to discontinue it at the end of November 2020 as was initially and microbiological requirements of water used for irrigation purposes, irrespec- planned. It has been warmly tive of its source (domestic water, grey water, borehole, river, waste water etc.) welcomed by Batswana. The whether it has been treated or not  figures indicate a need for this product offering and the Agency a desired pricing framework that NOTE The standard is intended to provide information to make judgments is looking into ways of improving considered the agency’s future financial on the suitability of water to be used for irrigation purposes, primarily for crop it going forward. sustainability, risks and continued production  Q: It has been noted that economic dynamics. CEDA launched Letlhabile The Agency’s sectoral support was Botswana Bureau of Standards intends to adopt the following and revised the Agency’s addressed with the view to aligning financing guidelines. Were CEDA’s support in accordance with sector International Standards as Botswana Standards: these two actions both a or industry needs where necessary. The response to the COVID-19 Agency’s minimum and maximum loan 3. ISO 14046, Environmental management — Water footprint — Prin- pandemic? limits or any other limits within the range ciples, requirements and guidelines  A: Over time, significant in delivering various financial solutions This International Standard specifies principles, requirements and guidelines changes have occurred in to ensure support relevance in view of the related to water footprint assessment of products, processes and organizations CEDA’s operating environment, emerging SMME support needs was also including political, social and addressed. based on life cycle assessment (LCA). This International Standard provides princi- economic developments at the Demographics of the Agency’s clientele, ples, requirements and guidelines for conducting and reporting a water footprint national, regional and global a Client’s Age, Business Age, Status of assessment as a standͲalone assessment, or as part of a more comprehensive levels. This necessitated a Business (existing and start-up) and environmental assessment. Only air and soil emissions that impact water quality comprehensive review of CEDA’s Sectors were considered with the view are included in the assessment, and not all air and soil emissions are included. operating guidelines to assess to advancing differential approach or The result of a water footprint assessment is a single value or a profile of impact their relevance and efficacy in a support where necessary. Minimum and indicator results. Whereas reporting is within the scope of this International dynamic operating environment, maximum loan tenure, and grace periods Standard, communication of water footprint results, for example in the form of and to identify changes aimed in view of any proposed considerations at enhancing CEDA’s strategic were reviewed. Security requirements labels or declarations, is outside the scope of this International Standard  alignment to national socio- and where necessary proposed variations economic development goals were addressed. The Agency’s support in  and objectives, as well as market instances where citizens are in partnership needs. Guidelines are enablers for or in joint-ventures with non-citizens and BOBS cordially invites interested parties to provide their views regarding th the implementation of strategy in advice for any improvements that may be the above mentioned standards by 13 January 2021. order to achieve predetermined desirable were considered and addressed. goals and objectives. The Agency’s support for Botswana- Copies of these standards may be viewed or requested from the Infor- The overriding rationale for based, citizen owned businesses seeking mation Centre of the Botswana Bureau of Standards at Plot No. 55745, the review of the guidelines can to exploit export markets for market be summarised as enhancing diversification and business growth was Main Airport road, Block 8, Gaborone. Francistown branch at Plot No. CEDA’s effectiveness inalso addressed. 32367, Donga – Adjacent to Metsef wholesale Francistown addressing its development Q: Kindly share with us how mandate and supporting your service and customer Suggestions which entail revision of the text should indicate the pre- achievement of the government’s relations were improved during ferred wording and the relevant clauses should be quoted against. strategic development objectives; Covid-19? becoming more responsive and A: The Covid-19 pandemic fast-tracked For enquiries please contact: (+267) 364 5403/364 5472/ 390 3200 relevant in meeting client needs; the Agency’s move into the digital space. and promoting the imperatives The transition has had a wonderful Written comments should be posted, faxed or emailed to: of achieving organisational impact on the way the organisation effectiveness, efficiency and responds and interacts with stakeholders, The Managing Director sustainability. both internally and externally. The most Att: Manager Engineering Standards Q: There have been important digital action the Agency Botswana Bureau of Standards perceptions that accessing took on was the introduction of online Private Bag BO 48 CEDA financing is quite a application for all product lines, including Gaborone, Botswana Letlhabile. This was an effort to reduce challenge? How have the Fax: (+267) 391 0593 new guidelines addressed the number of individuals visiting this? our branches physically in light of the E-mail: [email protected] A: The previous guidelines Covid-19 precautions. Furthermore, were looked at in order to review a toll-free number was introduced for Ref. No.: PC Advert No.09 of 2020 - 21 several areas for ease of access general enquiries about our product and improvement of business. offering. Callers are also free to engage These include the Agency’s with our call centre agents about their StStandardsandards f foror a betterbette Botswanar Botswana pricing framework and proposed applications. THE BUSINESS WEEKLY & REVIEW 10 Friday 06 November 2020 - 12 November 2020 www.businessweekly.co.bw Tax & your Pocket

WRITE TO US AT The Business Weekly & Review BICA STAFF Tax Column P.O Box Post Net Kgale View 449 ADD, Gaborone www.businessweekly.com DONATES 36 INFRARED Commentaries, letters and columns present here are the views of THERMOMETERS TO 6 the authors and not necessarily those of The Business Weekly & Review PRIMARY SCHOOLS IN THE GANTSI REGION CLAIM VAT ON ABORONE – The come at a critical time for the GOODS YOU BUY Botswana Institute beneficiary schools which Gof Chartered are experiencing shortages of FROM NON-VAT Accountants (BICA) Staff thermometers. has heeded Government’s call “I am very proud of the BICA to assist in the fight against Team for finding it in their REGISTRANTS Covid-19 virus by donating 36 good hearts to extend a helping Jonathan Hore Managing Consultant Aupracon Tax Specialists infrared thermometers to the hand and making a meaningful Ministry of Basic Education, contribution towards curbing Gantsi Region. Being driven by the spread of Covid-19 virus their compassion, BICA staff in our country,” said the raised funds amounting to P BICA CEO, Verily Molatedi, 20,597.00 and purchased 36 expressing her gratitude. infrared thermometers which “I am hopeful that the will distributed to six (6) thermometers primary schools. The beneficiary schools are Kgaphamadi, Kabakae, East Hanahai, Metsimantsho, Xanagas and Chobokwane. The thermometers are one of the essential BICA CEO, measures used in Verily Molatedi, the monitoring and prevention of the spread of the hose in the finance buyer needs to keep details of the vehicles and those registered Covid-19 fraternity have been taught seller, price paid, identification for VAT can maximise on virus that VAT registrants can number and other particulars of their VAT claims through the and T only claim VAT if they purchase the transaction. No tax invoice is notional VAT. goods or services from sellers required to claim the VAT. • Immovable property dealers: who are registered for VAT. Seller must be in Botswana Dealers in property may also Fair and fine, that is applicable The notional VAT can only claim this VAT although their to most of the transactions but be claimed if the seller is based claims are more complicated then there are instances where in Botswana. What this means than what we stated above. a VAT-registrant can claim VAT is that it cannot be claimed on Further, any other person who on second-hand goods purchased imports as those will be subject does not deal in immovable from non-VAT registrants. I want to import VAT when they are property can claim the tax if to shed more light on this matter cleared at the border or port of they use the property for their in today’s analysis. In this article, entry. taxable business. words importing the masculine Formula • Second-hand shops: Shops shall be deemed to include the The VAT can be claimed using which buy and sell second- feminine. what we call the tax fraction hand goods are also eligible to VACANCY – PUPILLAGE Second-hand goods (12%/112%) as applied on the claim the mentioned VAT. Before I get too deep into the amount actually paid to the seller. Conclusion analysis, let me state that the topic It is very important to note that It is understandable that most of today is VAT on second-hand the tax cannot be claimed on an VAT registrants may not be aware Job Title: Pupillage goods or alternatively, notional amount not yet paid. Let’s say you of this tax and unfortunately, input tax. Second-hand goods are go to a motor dealer who offers they lose out on what they Qualification: To be an admitted Attorney in Botswana, and must goods previously owned and used to buy your used car for P336 could legally claim. I guess that’s have completed a program in Trial Advocacy Training. by another person, excluding 000 but only pays you P 224 000, why every business needs a tax animals. As an example, a second- the dealer can only claim VAT on consultant and I am sure you Job Summary: To work under the direct supervision of a Senior hand car qualifies under the the P 224 000. The VAT claimable know only one such consultant! Attorney, to get exposure and training in different areas of law and definition of second-hand goods will be P 24 000 (being 12%/112% If this article was informative, let various types of legal matters. on which VAT may be claimed. x P 224 000). The VAT on the me get a big, ‘Bravo, Yours Truly!’ The alternative title of this VAT balance of P 112 000 will only be Well folks, I hope that was Closing Date: 27th November 2020 is notional input tax, which claimed as and when payment is insightful. As Yours Truly says means that the VAT is claimed made to the seller. goodbye, remember to pay to Send your CV to: [email protected] when it simply doesn’t exist; it is Who can claim this? Caesar what belongs to him. theoretical. Notice here that such Well, this tax may be claimed If you want to join our Tax NOTE: If you are not contacted by the firm within 7 days after the VAT claims can only be done by by all VAT-registrants as long whatsapp group or know more closing date, please regard your application unsuccessful. Late VAT registrants who intend to as the VAT is not prohibited. about our 8 Tax e-books, send me applications not considered. use the goods for their business, However, the following are some a text on the number below. i.e. to sell or to repeatedly use. I examples of businesses which can Jonathan Hore is a Managing DATED AT GABORONE THIS 03rd DAY OF NOVEMBER 2020. proceed to highlight some of the claim the notional VAT: key issues about this tax below. • Any VAT registrant: If a Tax Consultant at Aupracon Seller mustn’t VAT registrant purchases a Tax Specialists and feedback NKWE ATTORNEYS be VAT registered second-hand truck, machine on this article can be relayed Plot 54513, Unit 8A I stated above that the seller or immovable property from to [email protected] The Court Yard, Riverwalk must not be registered for VAT. a non-VAT registrant and or 71815836. P.O Box 81220 That being the case, the seller they intend to use it in their GABORONE will not charge VAT. However, business, then they can claim Tel: (+267) 395 1180 the purchaser, who must be the VAT on second hand goods VAT-registered can still claim thereon. theoretical VAT based on the • Car dealers: Most car dealers provisions of the VAT Act. The buy and sell second-hand THE BUSINESS WEEKLY & REVIEW

www.businessweekly.co.bw Friday 06 November 2020 - 12 November 2020 11 Companies & Markets

MARKET HIGHLIGHTS

MAJOR MARKET MOVERS (Thebe) Zimbabwe 28/10/2020

Counter Share price Change (%) leads returns, BSE on the back Source: BSE foot DOMESTIC EXCHANGE RATES 29/10/2020 Zimbabwe and Nigeria had the most bullish

Rate markets on the African continent while the CNH/BWP 0.5872 BSE brought up the rear with three other lag- EURO/BWP 0.0745 gards. Staff Writer KITSO DICKSON reports GBP /BWP 0.0673 STORY ON PAGE 13 USD /BWP 0.0876 ZAR/BWP 1.4298 YEN/BWP 9.4100 Source: BOB

Savings and Investment rates effective from 1st November 2020

Normal Interest Effective Interest Minimum Opening Rates* Rate* Balance (Pula)

0.00% - 2.30% 0.00% - 2.30% 10,000 WORLD MARKETS Call As at 29/10/2020 INDEX VALUE % CHANGE Savings 0.25% - 2.00% 0.25% - 2.02% 120 AMERICAS INDEXES Ipeele

Dow Jones 28210.03 -0.35 12 Industrial Average Savings 3.00% 3.04% 1,000 SureSave S&P 500 3441.71 -0.04

NASDAQ 11484.70 -0.28 24 Savings 3.20% 3.25% 5,000 SureSave EUROPE, MIDDLE EAST & AFRICA INDEXES 36 EURO STOXX 50 3180.70 -1.46 Savings 3.40% 3.46% 10,000 Price EUR SureSave FTSE 100 Index 5776.50 -1.19 DAX 12557.64 -1.41 1.75% - 2.25% 1.76% - 2.27% 1,000 Savings Lebandla ASIA-PACIFIC INDEXES

Nikkei 23639.46 +0.31 91 1.50% 1.51% 1,000 Hong Kong Hang 24754.42 +0.75 Days Seng Index TOPIX 1637.60 +0.73 6 2.25% 2.26% 1,000 Month Source: Bloomberg

12 3.35% 3.35% 1,000 Month

24 3.50% 3.50% 1,000 Month

5.25 WRITE TO US AT Prime Rate Quotations can be obtained from our Treasury department for periods longer than P.O Box Post Net 12 months and amounts from P1million and above. T’s & C’s apply Kgale View 449 *Lowest to highest ADD, Gaborone For more information contact one of our branches: Airport Junction - 318 5903 | CBD - 371 5470 | Francistown - 244 2323 | Game City - 318 1077 Ghanzi - 659 7353 | Kang - 651 7190 | Kasane - 6250123 | Mall - 367 1601 | Mahalapye - 471 2952 TEL: (+267) 3170 615 Molepolole - 592 1444 | Maun - 680 0810 | Palapye - 492 4477 www.bankgaborone.co.bw FAX: (+267) 3170 618 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 12 Friday 06 November 2020 - 12 November 2020 Companies & Markets SEFALANA MD IN ALLEGED FINANCIAL CRIME DISPUTE

Issues of disclosure and insider trading lie at the heart of the conduct of the MD of Sefalana Group, Chandra Chauhan, when he recently went on a buying spree of the company’s shares in the build-up to the award of Botswana’s lottery tender to Grow Mine Africa (Pty) Ltd, which is owned largely by Sefalana Group while Chauhan is the biggest single shareholder in Sefalana after institutional shareholders. Staff Writers KEABETSWE NEWEL and KITSO DICKSON report

s the Managing Director also lined up to cash in big time. (MD), Chandra Chauhan Sefalana Finance Director Ais entrusted with Mohamed Osman says normal operations of Sefalana. He makes practice in any business is the decisions. Of course, to a that dilution would occur if a certain extent with approval of shareholder does not meet its the board. However, the board capital call. He says respective would approve a narrative sold shareholders have responsibility to it by the MD, provided that to ensure they raise their required profits come. After institutional share of funding. “We remain investors, the Botswana Public hopeful that all shareholders are Officers Pension Fund (BPOPF), able to do so when called upon to the Motor Vehicle Accident act,” says Osman. “Both the Board (MVA) Fund and the Debswana and shareholders of Grow Mine Pension Fund (DPF), Chauhan are unified in their opposition to is the single largest individual the Ithuba Solutions challenge,” he shareholder in Sefalana. says, adding that all shareholders Those in the know say there are aware of and have consented was a reason why Chauhan to taking legal advice to defend jumped into the opportunity of Grow Mine’s position. investing into Grow Mine Africa Leaked documents show and eventually control it, through that Raditladi believes that Sefalana. On the other hand, announcements on the BSE Chauhan started buying more needed to be a full disclosure Sefalana shares, to increase his because Sefalana will end up at stake in a company that would more than 40 percent shares. ultimately control Grow Mine Further, there is a belief that Africa. Sefalana Managing Director (MD), Chandra Chauhan Sefalana needed to inform the He purchased Sefalana shares public about the Ithuba Solutions on 6 October 2020. Market 70 percent of the billions of pula by directors. This is why capital Raditladi, reported Chauhan application and its potential updates show that 223,756 shares before shareholders get their cut market laws prohibit the buying to the CEO of the BSE, Thapelo impact because some shareholders were bought at P9.30 a share. in dividends in accordance with or selling of a company's stock Tsheole, the CEO of BPOPF bought shares in Sefalana looking Chauhan went back to the market the share structure. Further, while in possession of material, Moemedi Malindah, the CEO at prospects of the lotto licence. on 12 October to buy 50,000 Sefalana owns 40 percent of non-public information. The of the MVA Fund Michael However, according to Osman, shares. Grow Mine Africa for now, practice of buying or selling Tlhangwane and the CEO of DPF the statement made by Raditladi Sefalana Finance Director, which means the larger portion on non-public information is Gosego January that disclosure contains numerous factual Mohamed Osman, says all share of dividends would be paid known as insider trading. Antwi requirements to shareholders, inaccuracies that render his purchases were at market prices to Sefalana. The Sefalana MD Kwabena, Investment Analyst as required by the BSE Listings entire statement unreliable. He and that, given closed period is in possession of this inside at Kgori Capital, points out Rules, were violated. In Raditladi’s says Sefalana issued a response restrictions that are in place information. Chauhan has been that insider trading is illegal. letter, it emerges that since statement which was published at various points in the year, buying Sefalana shares so much “Insider trading occurs when an submissions of the bid by Grow on the BSE immediately after executives are unable to buy or that insiders suspect that he is individual who is in possession of Mine Africa, direct and indirect they became aware of Raditladi’s sell shares in the business. “When positioning himself to benefit material, non-public information shareholders worked as a team statement. “This can be sourced closed period restrictions are from Sefalana’s increase should trades in a security to which that professionally. BPOPF, the MVA from the BSE website,” Osman not in place, directors, as well as the lotto licence end up being material, non-public information Fund and DPF are said to have says. members of the public are free operated by Grow Mine. relates,” Kwabena explains. cooperated to provide details of BSE advises that all regulatory to transact in the shares as and But there are those who question According to the Securities Act, their operations as required by press announcements, when they come available,” he his methods of disclosure in terms a person who knows that he or the Gambling Authority. prospectuses, prelisting says, adding that appropriate of Botswana Stock Exchange she has inside information shall Upon announcement of Grow statements and circulars clearance has been obtained from (BSE) Listings requirements. not deal directly or indirectly Mine Africa as the preferred (regulatory publications) must be the BSE and suitable and requisite The disclosures, done through or through an agent for his or bidder for the national lottery, it published on X-News first prior to disclosure has been made in cautionary announcements, are her own account in securities is said Sefalana misinformed the releasing the same in newspapers respect of all such transaction(s). meant to ensure that shareholders listed on a securities exchange public on the BSE that it would and/or any other media or The national lottery itself is become fully aware of the to which the inside information be a 40 percent shareholder. presentation. In terms of general a money spinner to the tune of company’s future prospects, relates or which are likely to be However, according to a board obligation of disclosure, an issuer billions. According to an insider, transactions that it is involved affected by it. An insider shall resolution of 17 January, all must without delay announce it is estimated that the national in, as well as any major deal that not be considered as having shareholders who will not meet any information known to the lotto in Botswana will rake in may materially affect the value contravened this provision if such capital calls will be diluted, a issuer concerning it or any of between P1 billion and P2 billion of the company and or its share an insider proves, on a balance of development which may result its subsidiaries or associate annually. However, most of that price. According to investopedia, probabilities, that he or she only in an increase in Sefalana shares. companies which is necessary to money, about 70 percent of it, material information refers to became an insider after he had Chauhan is also said to have avoid the establishment of a false will be absorbed in distribution any documents, facts, figures or given instructions to deal to a signed a resolution to confirm market in the issuer’s securities channels and other operational data which a reasonable investor securities broker or dealer and that Sefalana has enough cash to or might reasonably be expected costs. In the Grow Mine Africa would consider significant to the instruction was not changed finance the national lottery while to significantly affect market deal, Sefalana, through its retail their decision to buy or sell a in any manner after he or she other shareholders without funds activity and the price or value of network across Botswana, was security. became an insider. An insider will be diluted. Should Sefalana its securities. going to be the sole distributor of Further, material non-public contravening the law is liable to dilute other shareholders and The tricky part is that the BSE the lotto tickets. information is data relating to a a fine not exceeding P200 000, increase its stake in Grow Mine says the decision of whether or It means that tickets would be company that has not been made imprisonment for a term not Africa, it stands to benefit more not an announcement meets bought at Sefalana outlets, which public but could have an impact exceeding 10 years, or both. from the proceeds of the national these conditions is determined by would consequently see Sefalana on that firm's share price. Such The Managing Director (MD) lotto. Because Chauhan increased the company because it has access raking in a bigger portion of the information is usually known of Grow Mine Africa, Percy his stake in Sefalana recently, he is to all inside information. In other THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Companies & Markets Friday 06 November 2020 - 12 November 2020 13

 Zimbabwe leads

 returnsYTD Indices Performance, BSE on (Local Currency vs USD/EUR) the back foot

As of 30/10/2020 the report says. YTD Indices Performance (Local Currency vs USD/EUR) *As of 30/10/2020 Market data shows that a total of seven counters recorded words, the decision to disclose Selected Markets Index Name Index Value Local (%) USD (%) EUR (%) price movement in the quarter. all relevant information lay with Vodacom Tanzania was the top Chandra and the board. “Material Botswana BSE DCI 6,890.35 -8.06 -14.68 -18.04 loser, dropping by 9.4 percent information is information that, after closing the quarter at TZS if known by the public, would BRVM BRVM-CI 128.18 -19.51 -16.19 -18.79 770 from TZS 850. Nation Media likely affect the price of the Group, KCBG Group and Jubilee Egypt * EGX30 10,515.25 -24.68 -23.02 -26.50 company’s securities,” Kwabena Holdings are the top three losers says. “Materiality is based on Ghana GSE-CI 1,837.27 -18.60 -20.55 -23.75 on a YTD, registering 65.17 the nature of the information. percent, 37.50 percent and 30.38 Directors cannot arbitrarily Kenya NSE ASI 140.04 -15.85 -21.52 -24.61 percent respectively. decide on what is and what is not Elsewhere, Morocco All Shares material information.” Malawi MSE ASI 31,303.78 +3.48 +0.97 -2.90 Index (MASI) depreciated by Post-publication of 10.61 percent. The Morocco information, the BSE has Mauritius SEM ASI 1,511.02 -24.64 -31.06 -34.01 Casablanca Stock Exchange responsibility to review the Morocco * MASI 10,460.66 -14.06 -10.61 -14.54 MASI Index is a major stock publications which were not market index which tracks the made though X-News and Namibia NSX OI 1,003.64 -23.17 -33.94 -36.60 performance of all companies reserves the right to take further listed on the Casablanca Stock action against the issuer if Nigeria NGSE ASI 30,530.69 +13.74 +8.61 +4.08 Exchange. It is a free-float, any potentially price sensitive capitalisation-weighted index, information was not released Rwanda RSE ASI 147.92 +9.10 +5.49 +0.51 according to its website. The procedurally. MASI index has a base value South Africa JSE ASI 51,684.70 -9.46 -21.99 -24.95 Osman feels that Raditladi is of 1000 as of December 31, gravely misinformed regarding Tanzania DSE ASI 1,782.93 -13.42 -14.20 -17.58 1991. According to market disclosure. “Sefalana has indeed reports, change in the MASI made relevant disclosures in Tunisia TUNINDEX 6,555.10 -7.96 -7.96 -11.58 essentially reflects the decreases respect of the lotto,” he insists. in the sector indices of banks, “Speculative matters are not Uganda USE ASI 1,306.58 -27.44 -28.90 -31.70 telecommunications and drinks. required to be published on the Ahead of the MASI is Tunisia’s Zambia LuSE ASI 3,809.22 -10.68 -38.92 -41.32 BSE. The licence has not been TUNINDEX, which retreated by awarded to any party and the Zimbabwe ZSE ASI 1,476.87 +541.89 +32.35 +27.00 7.96 percent. The TUNINDEX outcome remains uncertain. index and the Sector Indexes

Please refer to our announcement www.african-markets.com are no longer weighted by the dated 5 June 2020 and also refer to total market capitalisation but Noten October: USD and 2020,EUR returns the are Botswana indicative According to market data According to analysts, our annual reports for both 2019 by the free float adjusted market Stock Exchange’s (BSE) by brokerage firm Motswedi sentiments changed for the stock and 2020 in which commentary * Close of 28/10/2020 capitalisation. This method of Domestic Company Index Securities, just under 35,100 in the last couple of months has been included on this matter. I calculation, already used for (DCI) depreciated by a further shares went through the market after impact by COVID-19 on We will continue to make further other major indices around the 1.58 percent, making it the fourth at the stock's new price low of its business lines in addition disclosures as and when required world, ensures greater coherence smallest loser on a year-to-date P0.68/share (1 thebe lower from to the bank rate cut. With the to do so. As indicated before, the between the real nature of (YTD) basis among 17 African the session's opening price). “This inclusion of Minergy, BTC and licence has not been awarded to companies on the market and indices tracked by the African loss further extended the stock's FNBB are the handful of stocks in Grow Mine and the evaluation how it is expressed in the indices, Market. year-to-date performance to the market that have year-to-date by the Gambling Authority is still according to its website. Top African Market is a provider negative 28.4 percent, widening losses that surpass 20 percent. underway. The outcome therefore AM Monthly Market Report - October 2020         ϯ losers are Industries Chimiques of financial market data, news, the gap between itself and Ahead of the DCI is the Dar- still remains unknown.” Du Fluor at 52.03 percent and analysis and research with a the nearest stock,” Motswedi es-Salaam Stock Exchange All Futher, Osman says should Manufacture De Panneaux Bois focus on Africa. According to its Securities wrote in a daily market Share Index (DSE ASI) which negotiations with the Gambling du Sud at 38.10 percent. October 2020 report, DCI has report. “Weighing on the stock's depreciated by 14.20 percent. Authority be successful, the African indices are led by retreated by 14.68 percent (in performance are a number of Just like the DCI, the Dar Stock licence would not be awarded Zimbabwe Stock Exchange USD terms) on a YTD. factors, including the COVID-19 Exchange index is a market to Sefalana but rather to Grow All Share Index (ZSE ASI) The DCI is a measure of pandemic, panic selling and the capitalisation weighted index Mine. The award is subject to a appreciating by 32.35 percent, the overall domestic market general dilution of investments to with a base reference of 1000, final licence negotiations with making it the best performer of performance weighted average free up cash.” according to its website. The the Gambling Authority as the markets watched by African return. However, market analysts The loss in BTC was echoed by index includes all stocks listed on previously reported. Sefalana Market in the last 10 months. prefer the Domestic Company the domestic indices. The DCI, the DSE. is a 40 percent shareholder in According to African ‘Xchanges, Total Returns Index (DCTRI) as together with the Domestic According to Orbit Securities Grow Mine. Osman says any in the aggregate, 34 ZSE-listed it incorporates dividend returns, Company Total Returns Index Co. Ltd’s third quarter report, the dividends accruing to Sefalana securities participated in trading, which is perhaps a good yard (DCTRI), lost 0.03 percent DSE ASI - which tracks the total would obviously be reported in ending with 11 gainers and 15 stick for both individuals and in the trading session, thus market capitalisation - dropped its Financial Statements should losers. CBZ Holdings led the institutional investors. extending their respective year- by 5.42 points following a 0.3 Grow Mine be successful. “At this gainers with 10.64 percent share DCI’s losers are led by to-date losses to 8.09 percent (in percent drop in the total market stage, it is not known what value price appreciation closing at ZWL Botswana Telecommunications pula terms) and negative 3.67 capitalisation. Similarly, the is likely to be derived,” he says. 44.4510 per share, followed by Corporation Limited (BTCL), percent respectively, according to report shows that the Tanzania In an interview, the BSE chief Innscor Africa (+10.03 percent), which has so far depreciated Motswedi Securities. Share Index, which tracks executive Thapelo Tsheole has Amalgamated Regional Trading by 28.4 percent this year. On First National Bank of domestic counters, lost 58.89 confirmed receiving the letter of (+3.1 percent) and Truworths Monday 2nd November 2020 Botswana (FNBB) reached P2.19/ points following a 1.7 percent drop complaint from Raditladi and that (+3.03 percent). On the losing when the market saw a handful of share, levels last seen in June 2018 in the domestic capitalisation. they are reviewing it but did not side, Dairibord Holdings came trades and a little under 38,000 when the share price was on the “Drop in market capitalisation elaborate. The Business Weekly & out last with an end-of-day price shares went through the market rise. The stock now stands with and its corresponding indices is Review wanted to know whether depreciation of 7.41 percent at worth P34,000 across five stocks, a year-to-date of negative 23.2 brought by the drop in counter or not BSE Listings Rules were ZWL 8.3333 per share, followed BTC was the most traded stock percent, making it the second prices. During the quarter, violated and whether or not there by Hippo Valley Estates (-6.48 by way of liquidity in the trading biggest loser in the domestic was insider trading. significant drops have been session. bourse. observed on domestic counters,” TO page 15 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 14 Friday 06 November 2020 - 12 November 2020 Companies & Markets

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#BuildingBatswanaForBotswana www.ceda.co.bw THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw THE BUSINESS WEEKLY & REVIEW 16 Friday 28 June 2019 - 04 July 2019 www.businessweekly.co.bw Strategic Wealth Strategic Wealth Friday 06 November 2020 - 12 November 2020 15

from page 13 Zimbabwe THE BOTSWANA leads The BoTswana returns, RETIREMENT BSE on the back foot FUNDSponPensionSored by StrategicCOLUMN Wealth Funds (edition 1) percent), NMBZ Holdings Sponsored by Strategic Wealth (-5.19 percent) and Edgars Stores (-4.26 percent), as Naadine welcome Dav iesfrom – CE nadineO Strategic Davies Wealth – Ceo Strategic Wealth disclosed by market reports. Regarding the performance of ZSE market WELCOME to our monthly retire later. nowadays on average elcome to the first indices, on Monday the feature. edition of our benchmark ZSE peopleAll Share will live well into their Covid – Growing gap EconoEcONOmimcI perforc pERfORmmaanceNcE aROuNd thE wORld Botswana Pension Index (ZSE-ASI) 80’s,increased that is a long time to have Wbetween East and West around the world by 28.74 (1.95 percent) FundsWe Column. are seeing a clear divide REGION Gdp INflatION INtEREst RatEs to live off a pension. Working a points to close at 1,505.15, Thisbetween is east a monthlyand west feature with - col few extra years can make all the REGBotswanaION 4.3%gdp (Mar-19) inflat2.6%ion (May-19) interest5.00% rates (Jun-19representing) a 1-week gain umnrespect which to Covid-19. aims to provideThe east inis - difference. of 2.45 percent, a 4-week rapidly getting back to normal BotsUwsaana -24.8%3.1% (jun-20) (Mar-19) 1.8% (sep-20)1.8% (May-19) 3.75% (oct-20)2.50% (Q4-18) DeCoDing JaRgon! formation and a voice for Retire- loss of 4.46 percent, but an and moving ahead, while the USA -2.9% (sep-20) 1.4% (sep-20) 0.25% (sep-20) ment Fund Trustees and Members EUrozonE 0.4% (Mar-19) 1.2% (May-19) 0.00% (Q4-18)overall year-to-date againsset ofClass: the name of a cat- west continues to flounder. We in Botswana. Eurozone -4.3% (sep-20) -0.3% (oct-20) 0.0% (oct-20) 554.19 percent, accordingegory of to assets which can be in- see some of this reflected in UnitEd Kingdom 1.8% (Mar-19) 2.0% (May-19) 0.75% (Q4-18) African ‘Xchanges.vested African into, like company shares Herehigher is equity how itreturns will work: in the the United Kingdom -19.8% (jun-20) 0.5% (sep-20) 0.1% (sep-20) China 6.4% (Mar-19) 2.7%(May-19) 4.35% (Q4-18)markets have been marked columnfar east will markets, feature like a briefthe CSI eco - China 4.9% (sep-20) 1.7% (sep-20) 3.85% (oct-20) or bank deposits. institutional by the launch of the long- nomic300 index, overview, which look tracks at the invest top - Source Factset investors normally have invest- awaited Zimbabwe’s Victoria 300 stocks on the Shanghai & ment portfolios with a variety ment performance and discuss Falls Stock Exchange (VFEX) Shenzen stock exchanges, up topics relating to retirement How have investments performed over the on Monday 26of Octoberasset classes included in them, 15.7%. Contrast this with the funds. We will look at investing, hOw havE INvEstmENts pERfORmEd OvER thE last 12 mONths tO may 2019?2020. According becauseto reports, this helps to diversify US S&P 500, which is up 3.9% last 12 months to september 2020? trading started oninvestment the VFEX risk, reduce volatility trendsyear to in date, the industryagainst a backdrop and most 1 Year 1 Year 1 Year 1 Year Local 1 Year MSCI 1 Year MSCI 1 Yearwith the listing of Seed importantly,of a US economy how toin helprecession. mem - 1 Year 1 Year 1 Year money 1 Year MSCI 1 Year MSCI 1 Year change and increase the predictability of Botswana Botswana money Property ACWI (BWP Emerging changeCo International, which bersThe of thethreatened Fund retire stalemate well. Wein Botswana Botswana market (BWP) ACWI (BWP) Emerging Botswana Pula returns over time. LocalLocal Local LocalBond Bond(Overnight market Call Performance Markets vsMarkets US$ Botswanahas been delisted from the willthe have US a presidential write-in section election for SHaRing iS CaRing sharesshares PerformancePerformance rate +2%)(BWP) (BWP) (May PulaZimbabwe vs Stock Exchange commentsmay also contribute or suggestions negatively and This column is here to serve you (Price)(Price) (Fleming(Fleming Bond (May 2019) US$(ZSE), the country’s main if not resolved quickly. At the our readers. Please send in your will run a weekly quiz competi- Index)Bond Index) 2019) bourse. The company time of writing, the presidential comments and let us know what tioncontest kindly between sponsored Donald by TrumpLengau (May 2019) becomes the first issuer to Wineand Company.Joe Biden was too close to list on the Mainyou Board have of enjoyed (or not) and VFEX. Thiscall, althoughcolumn Bidenis for was our seen readers -6.16%-9,40% 5.39%4,90% 5.04%5,10% 8,01%16.6% 5,50%9.27% -2,50%0.57% 9,70% want to read more about. also andto webe slightly will be closer guided to winning. by your The Nigerialet us Stockhave any general comments Exchange All Share Index If Biden wins, there is every you want to make. We will pub- feedback, so please let us know Source: BIFM, Morula, Factset (NGSE ASI) is the second whatindication you would that likeTrump to readwill drag more lish selected feedback each month the results through the courts, have managed to either contain lockdowns, while Germany is coupled with high death tolls and best performer appreciating about. or suppress the virus far better applying something similar. The continuing economic hardship by 8.61 percent. andAccording will use your suggestions to in a replay of the 2000 election investing is great because de- to invest in. For example, a pyr- joy the cost efficiency of an um- Strategicwhich took Wealth a month is ato Botswana resolve. than any western country. China, French and English lockdowns and damage. to Afrinvest Westhelp improveAfrica, our column. Please spite all the jargon, the basics re- amid scheme can be marketed as brella fund while still maintain- retirementIf such fundsuncertainty asset andpersists, invest - where the pandemic started, will last to early December BY contrast, it looks like the the likely drivers sendof market all comments or suggested mentexpect specialist the S&P founded 500 to continue in 2007. is nowmain largely simple. free The of the real virus, challenge and will a causehigh majorrisk/high economic yield investmentfar east Asian ingeconomies some elements will be of control.performance includetopics capital to: info@strategicwealth. raising with the proposed Weto are be 100%weak in citizen the short-term, and female withis only that occasional no-one canoutbreaks predict damage. the opportunity, Their case but numbers it often able ato continuescam ewithach their employer rapid can set up a info with your name, contact especially as the US congress beingfuture, dealt but with that quickly does and not meanare rising to almost steal yourexponentially, money. recoveries,another leavingmanagement their western committee recapitalisation to rep- in the owned and are committed to im- insurance (with detailsDecember and employer / retirement will find it difficult to agree on efficiently.that there cannot be clear direcalthough- caution thankfully is that death the rates higher counterparts the risk, farresent behind. its (and Chris its employees) in- proving retirement fund educa- Taiwan last month celebrated have not been as severe. Gilmour 2020 deadline) andFund banking name. any new federal stimulus for the tion for what to do today. over the more likely it is that you will terests with the umbrella. This tion and knowledge in Botswana. 200 days with no new In the US, there is no political What is Strategic Wealth? sector which is expected*CHan toC e To Be a WinneR – economy. time, economic and investment get to experience it. Many share committee works like a board of WHChina’saT’S H aeconomyPPening made a domestically-transmitted cases. consensus on the next round Strategic Wealth is a Botswana bring about more6 v capitalinTage ReDS WiremarkableTH THe eCrecoveryono inM they? third In fundamentalstotal, it recorded will 553always cases reassert of stimulus investors measures. are still Third surprised retirement when fundstrustees, investment but with lessraise, formality with possible Question:activity What 5 things can a in the equities market. oquarterur Botswana 2020, recording economy positive con - andthemselves, seven deaths so forfrom example, the overquarter theirUS GDP portfolio figures returns were andspecialist. capi- Theand responsibility.firm is 100% Retirement Fund Trustee do to reasonable, -2.9% year on year, citizen and female owned Afrinvest says it remains tinuesgrowth to of improve 4.9% year with on growthyear. virus,time which interest is remarkable, rate returns far will tal go negative because markets another control is to continue improve the investment perfor- better than even New Zealand, and the unemployment claims and committed to improving optimistic on the banking China also did not experience a always be lower than company have fallen. if investments are to contract in investment exper- mance of a Retirement Fund, to in production (gDP) at 4.5% and in October appear to have retirement fund knowledge sector to remain profitable, recession in 2020, in comparison whichshares is heldreturns, up as why? the posterbecause the properly understood, a market tise like asset consultants, invest- inflation at 3.5%. Local interest child for virus suppression. resumed falling. But the fourth in Botswana. Please send all “although we arehelp mindful the members retire well? to the deep recessions that the risk of putting money into a bank fall is just part of a natural cycle, ment advisers and asset managers ratesUS, shouldUK and stay most where European they are The main reason for Taiwan’s quarter will be important in comments or questions to: of the CBN’s continuousPlease send answers before forcountries now. The are now mining experiencing. sector saw successis lower. is that if ait company acted early share determiningdid not aif crisis.the US Manycan pull investors [email protected] will to have oversight andpolicy input intooversight”. Wednesday There 10th July 12pm to: is also a new wave of strongChina’s growth manufacturing of 7.4% in PMI 2018, (Decembernot promise 2019) a higherand closed return thanout of itspanic recession. and cash With out new after COMPETITION a market investment issues such as asset al- [email protected] with listings observed. In 2019, butrose growth to a near-decade in the non-mining high in bordersthat ofand a bank, instituted no one track would infections in- fall, continuing with hindsight to rise inoften Our not reader the competitionlocation and remains portfolio structures, your name, contact details and October, the sixth straight andvest. trace We technology list some as ofsoon investment as the US, theright outlook thing remains to do. poor suspended till etc.further notice. corporates such as Lafarge, private sector fell last year (incl. Fidson, Sovrenins,your Wapic, employer or retirement month of expansion this year, thefundamentals first case emerged. below whichHong for we further Re TimprovementiReMenT FinU thenDS ,FORT UM- HCOMINGUmbrellas are a good option wholesale and diamond trading Kong and Vietnam also adopted American economy, especially in ATTRACTIONS Cileasing and RedstarFund raised name. *[Competition and the strongest since January will discuss more in future. BReLLa oR no UMBReLLa? for smaller retirement fund, but sectors).2011. Although Chinese retail these strategies and have been the short term. Our annual Trustee Training right issues whilesubject MTN, to Terms & Conditions: There is a trend now for small- osalesverall, have global taken economiesa long time conto - successfulTime in – thesuppressing longer anthe investWestern- governments have Workshops employersand Conference and members Airtelafr should and Sahcoincl. listed contestants must be 21 tinuerecover, to grow, year onalthough year growth at lower is virus.ment period, the more predicttaken- toer adopting retirement lockdowns funds to remain move tosuspended continue till tofurther actively by participate introduction andyears Initial or older to enter, proof of Public Offerings (IPOs). “We expectedonce again rates. positive. We continue to Japan’sable andexperience accurate with investment in anticipation umbrella of the funds northern which cannotice. look through management commit- age required; winning answers Neighbouring Taiwan theassumptions virus is confusing. will become. This ihemispheret is after winter, multiple which evenparticipating DISCLAIMER: em- tees andWhile the every use of expertexpect invest new - corporates to see a negative impact on global come on board eitherselected listing at the sole and final experienced a mild recession countryhard towith predict one of what the oldestwill happen if not correct,ployers. will be There the default are effortmany isbene- takenment to advisers. ensure the growth rates with the USa con- populations on earth would for most countries until a vaccine accuracy of the information used by introduction discretionor IPO,” of Strategic Wealth; no but in Q3 showed a significant on a stock exchange next month, fits as umbrella funds are able to The aBC’s of Retiring Well tinuingrebound. to use Year the threaton year, of tariffsthe appear to be most susceptible, arrives, which should be soon. By in this column, Strategic Wealth Afrinvest notes, correspondenceadding that will be entered but, predicting the return of that provide equivalent services at a Here are some basic principles in Taiwanesetheir trade economydisputes withgrew otherat and yet, Japan had only slightly the first quarter 2021, the rollout accepts no liability for errors increased domesticinto; investor SW staff or relatives not countries,3.3% in Q3. including South China.Korea also (see oversame 100 000 market cases overand less the than next of 20 vaccines lower should cost. have The begun professionalisa or omissions.- for Information successful retirement.is presence. eligible; free prize delivery in Meanwhile, the Rwanda graphs)experienced a short recession in 2 000years deaths, is much leaving easier. scientists in earnesttion and of as trustees the northern also meansprovided that for general1. Starteducational investing as soon as gaborone only.] Q1 and Q2 2020 but rebounded dumbfoundedDiversification as to how – don’t they only hemisphere put while spring trustee and costssummer are goingpurposes up, andpossible. is not Timeto be is the mostStock power Exchange- All anyone Can BeCoMe an Share Index (RSEThe ASI) best answer in our opinion in Q3. Japan, the world’s third managedeggs in this your using basket only –a lightyou alwaysapproaches, an umbrellagovernments fund willonly needstreated one as financialful of all ofplanning the investment levers. inveSTMenT exPeRT! lockdown. stop using lockdowns. But until advice. Investors should consult has appreciated willby be5.49 published in the follow- largest economy, remains in want a variety of investments that board of trustees to look after all 2. Find out how much of your Well maybe not quite, but the Conversely, the west has largely then, we can expect to continue professional advisors before percent, followeding by edition the and the winner will recession after slumping by -7.9% perform differently at different its employers. salary needs be invested for you pointquarter is thaton quarter understanding in Q2, the the made a real mess. In the past to see poorly coordinated and taking any action. Not all Malawi Stock Exchangereceive All 6 bottles of an excellent basicsthird is straight not hard quarter and of decline. even be - week,times. both nFranceo-one and can England always pickdesperate However,western government there are potentialstatements necessarilyto have reflect enough the capital at retire- vintage red wine, perfect for a comingAll these an “recreational” far eastern countries expert havethe re-institutednext winner, nationwidebut variety givesreactions drawbacks, to the apandemic, one size fitsviews all of Strategic ap- ment Wealth. – between 12% and 25% for towinter’s page 16 evening by a warm fire. is not difficult, you just need to you the benefit of an average proach means that there is less most people. FoRTHCoMing put in the time. as a Fund trustee overall return, which will become scope for tailoring for different 3. never cash out or withdraw aTTRaCTionS or member, a great place to start is less volatile and risky over time. employers or groups of employ- any part of your pension fund We are dedicated to educating to read and ask questions. When Risk –there is a relationship ees. Further, the temptation is before retirement – most people and sharing knowledge. Please it comes to your role as a trustee between risk and return. effec- for employers and employees to will never be able to replace any join us: or your own retirement benefits, tively, if you take more risk, you just let the “experts” get on with withdrawn capital. 11 July 2019 (avani Hotel)– please remember there are no sil- should get a higher return. How- it. The problem is what happens 4. Try living with a sensible advanced investment training ly questions. it is your right and ever, when striving for a higher today will have consequences in budget. if you can control your for Trustees duty to understand what is hap- return, it is not just about accept- 20 years’ time and successful re- lifestyle today, your chances of 7 november (avani Hotel) – pening in your Fund. Use every ing higher risk. investors must tirement is a vital responsibility successfully funding for retire- Retirement Fund Workshop opportunity to learn more and also look at the fundamentals of to leave in someone else’s hands. ment will improve. RSvP essential to become better informed. the share or asset they are going Fortunately, there are ways to en- 5. Unless you are rich, plan to [email protected]. THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 16 Friday 06 November 2020 - 12 November 2020 Risk Management

Tourism and THINK LIKE A hospitality FRAUDSTER! counters The role of a fraud risk assessment Fraud Awareness Series – Part 2 in the red Nature Mogotsi, Operational Risk Manager, Banking With cumulative losses of nearly P70 million and market capitalisation down P150 million, the Thinking like a sectors are in a squeeze that dictates cost-saving fraudster is quite measures in which salary and wage cuts are challenging inevitable because the calculus is that Covid-19 because as forensic restrictions mean reduced revenues. Staff Writer investigators KITSO DICKSON reports find vulnerabilities and gaps that give rise to fraud, criminals create new fraud schemes. It is a never-ending battle!

hat better way to risk management strategy. a fraudster and can be very catch a criminal Another key consideration instrumental identifying all Wthan thinking like is the team conducting a fraud the vulnerabilities within the one! In order to anticipate risk assessment. The team systems and processes. a fraudster’s next step, we should be broad and comprise A fraud risk assessment need to first understand why of different stakeholders from may not solve for all the fraud criminals commit fraud. This various departments within issues in the organization, but it will certainly help with Kitso Dickson will then enable us to work on the organization and not just of the sector plummeted by limiting the vulnerabilities that the forensic investigators and identification of as many Staff Writer P149 million after a year-to-date lead to fraud materializing. management. This team can key fraud risks as possible. depreciation of 14.5 percent by Criminals commit fraud for be in a form of a focus group Unfortunately, with fraud ourism and hospitality Chobe and 1.4 by Cresta. various reasons, and it is not which engages in a series of management even the lower counters, Chobe Holdings The business model of Chobe always for monetary reasons. brainstorming sessions to risk areas need to be managed as Limited and Cresta T Holdings is based almost totally For this cause when designing identify incentives, pressures and criminals can use the loopholes Marakanelo Group, have both on high-end wildlife tourism fraud controls this needs to opportunities to commit fraud to be more creative and devise reported cumulatively losses and depends on well-heeled be factored in. From a theory and quantifying the risks as well more sophisticated fraud of nearly P70 million in their foreigners who were restricted perspective, fraud is influenced as identify controls. Identifying schemes. A robust fraud risk and interim results. from coming into the country. by opportunity, pressure, fraud vulnerabilities is not a one control identification process Chobe suffered a P35 million According to the chief executive rationalization and capability man's role, as such establishing a cannot be overemphasized. The loss in the six months ending 31st Jonathan Gibson, prior to the as per the fraud triangle and team enables a more robust process quantification of fraud risks August 2020 while Cresta shed advent of Covid-19, the group was fraud diamond theory, so to identify as many opportunities is based on their impact and P33.7 million in the first half of the anticipating its best year ever in controls or mitigating plans for fraud as possible. Everyone likelihood enables the risk to year as bookings were disrupted already confirmed bookings. must be done in a way that in the team will contribute their be rated accordingly as low, by COVID-19 pandemic. Early in the half, however, limits these aspects. Fraud expertise to the extent their medium, high and very high The losses are attributed to imposition of the first lockdown, controls need to be designed specific department and area of risks. Efforts or rather fraud travel restrictions as a result of which was countrywide, brought to limit most if not all specialty is concerned, which response strategies can then government measures to combat “our business to an almost opportunities for fraud. collectively promotes an effective be prioritized to focus on the the spread of the COVID-19. Thinking like a fraudster fraud risk assessment process, high-risk and high-impact Inevitably, market capitalisation to page 18 is quite challenging because resulting in an enhanced control areas. While efforts are made as forensic investigators find environment. to prevent fraud, it is not always vulnerabilities and gaps that A fraud risk assessment tool possible to be proactive, given from page 15 give rise to fraud, criminals is as good as the level at which the illusive nature of fraud create new fraud schemes. It is a it is used by the organization and the creativity applied Zimbabwe leads never-ending battle! Therefore, in the management of fraud. It by fraudsters. Some controls all business regardless of size must be a living document and can therefore be reactive. For returns, BSE on need to conduct a fraud risk should not become a template the controls to be effective, it assessment. In this article, that that is crafted and locked is ideal to allocate roles and the back foot the focus is on the fraud risk away until the next review date. responsibilities for control assessment and unpacking its It is important for the fraud risk owners. This enables them to Share Index (MSE ASI) at 0.97, market cap, experts argue it is role in fighting fraud in the assessment tool to be used to test be held accountable for the summing up the top four gainer important to understand index organization. the fraud controls regularly and adequacy and effectiveness covered by African Markets. and its flaws before making A fraud risk assessment provide assurance that they are thereof as the control owners Experts say it is always also investment decision. is a tool used by fraud risk adequate and effective. Where ensure implementation and important to make sure to If FNBB picks by 15 percent, it management practitioners the reverse is true, controls must monitoring of the controls. compare indices of the same can easily correct the DCI losses. or forensic investigators to be enhanced. Controls can be An effective fraud risk weights. For example, DCI is a But a dip by 3 percent can bring identify fraud risks, quantify achieved through investing in assessment enables a business market cap weighted index while the DCI lower by close to 50bps the risks and identify the innovation or fraud detection or organization to adequately some markets use price weighted (based on estimates). Because relevant controls for the risks systems or by employing more plan for the risk management indices. All this has various all have flaws, analysts argue identified to ensure adequate fraud investigators. There are resources required such as impacts on how the index under that it is ideal to use an index controls are embedded. Given studies that indicate that to staffing and detection and review performs. It is also that matches one’s investment the changing fraud risk manage the emerging fraud investigation systems. This can important to note that there strategy. So if BPOPF used some landscape and the current rate schemes, particularly cybercrime, in turn solve for the challenge is always some bias whether benchmark they computed by of fraud, it is important that organizations should consider most forensic experts have one uses market cap or share price, then they will have to have the fraud risk assessment takes hiring former hackers as part to undergo of struggling to price. For example, on the DCE, the bigger priced stocks. On the place more regularly. Generally, of the fraud teams. Some get adequate funding. All market cap gives a bias to FNBB other hand, equal weighting the fraud risk assessments are organizations employ ethical organizations and businesses which is the largest capitalised. gives small cap stocks often in conducted annually, and some hackers to test controls for must therefore conduct fraud However, it trades at share P2.19 new markets better weighting organizations conduct them a product before entry to risk assessments on a regular vs Sefalana which trades at P9.30 than the risk associated with bi-annually, in line with the the market. This is because basis and apply necessary with market cap almost half of holding them, according to organization or business fraud ethical hackers can think like controls to close vulnerabilities. FNBB. Because FNBB has a larger pundits. THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Performance in the Workplace Friday 06 November 2020 - 12 November 2020 17

It is important The in embracing genius and mindset of talent in the workplace, exceptional effort and perseverance are not performance sacrificed. DUDUETSANG MOILWA

he question of what about effort, perseverance even in mindset that an individual (or sustain the type of mindset that time? Do we create catastrophes differentiates highthe face of failure, and consistent organisation) embodies. It is can survive and bounce back from out of negative events, and fail to Tperforming individuals commitment over time. difficult to develop grit if you challenges and even rise to greater see the opportunity for growth from others is one that generates In order to cultivate grit, it operate from a fixed mindset heights. Optimism in this context and improvement? much interest and guesswork is important to have interest in because the belief that your is the ability to explain adverse Do we see being gifted as a black among most business leaders and the goal. It is difficult to imagine capacity to learn (ie your talent) events in temporary and specific and white issue with no room for employees alike. At the centre of dedicating hours of your time is limited cannot be trained. terms. For instance, the source learning and expansion? If so, today's article are ideas borrowed each day in something that Conversely, a growth mindset of a failure is temporary and we may be guilty of snuffing out from leading psychologists is completely meaningless to is one where, given the right fixable ('I mismanaged my time). exceptional achievement before it and bestselling authors, Angela you. The quality of the practice support, effort or opportunity, By contrast, a pessimist would even had a chance. On the other Duckworth, Martin Seligman that one engages in is also of improvement and growth itself explain a failure in permanent hand, being able to recognise and Carol Dweck, to help explain importance - deliberate practice, are possible. A problem that and pervasive terms ('I am a loser,' these attributes as drivers of the mindset of exceptional or practice with a specific focus, comes with a fixed mindset is 'I mess up everything.') such success and deliberately creating performance. is what matters as opposed to just that defeat is usually encountered an assessment makes it difficult environments which support One of the bedrocks of clocking hours of practice time when challenges are met - the to address a specific element to them can be the high performance exceptional performance is grit. with no specific aim. difficulties are attributed to an improve. key that we all are striving for. This term was popularised by Two other factors also innate lack of ability as opposed As individuals and as leaders *DUDUETSANG MOILWA Angela Duckworth through a contribute to the development to circumstances which can be of people, it is important to be is an HR practitioner who has TED Talk and later a book titled of grit. Purpose - the intention overcome or changed. aware of the types of cultures we served in various capacities in “Grit - the Power of Passion and to contribute to the wellbeing Another quality that are engendering in the workplace. the HR departments of several Perseverance.” She examines the of others; and a particular type contributes to sustained high The language we use can be very organisations in Botswana. She idea that although 'genius' and of hope - the expectation that performance is optimism. In telling. Do we glorify 'genius' and holds a degree in Organisational 'talent' have their place, they our own efforts can improve our research conducted by renowned 'raw talent' and fail to recognise Psychology from the University matter a lot less than grit when future. psychologist Martin Seligman, the importance of effort,of Cape Town and is currently an it comes to achievement. Grit is Linked to grit is a particular optimism has been shown to help discipline and skill acquired over HR Consultant.

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE HELD AT GABORONE IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CASE NO: CVHGB-003412-17 IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CASE NO: CVHGB-002407/19 In the matterHELD between: AT GABORONE In the matterHELD between: AT GABORONE BOTSWANA BUILDING SOCIETY CASEPLAINTIFF NO: CVHGB-001213-16 BBS LIMITED (FORMERLY BOTSWANA BUILDING SOCIETY) CASEPLAINTIFF NO: CVHGB-001213-16 and In the matter between: and In the matter between: CHARITY BOTSWANAMUHAMMED BUILDING SOCIETY PlaintiffDEFENDANT MOITSHEPIBOTSWANA VICTOR LEOKETSA BUILDING SOCIETY PlaintiffDEFENDANT and and AKANYANG ALOMET JOHN NOTICE OF SALE IN EXECUTION Defendant AKANYANG ALOMET JOHN NOTICE OF SALE IN EXECUTION Defendant

BE PLEASED TO TAKE NOTICE pursuant to aNOTICE Judgment OF and SALE Writ IN of EXECUTION Execution of this Honourable Court, the following BE PLEASED TO TAKE NOTICE pursuant to aNOTICE Judgment OF and SALE Writ IN of EXECUTION Execution of this Honourable Court, the following property of the above named Defendant will be sold in execution by Deputy Sheriff Meshack Moshabi to the highest property of the above named Defendant will be sold in execution by Deputy Sheriff Meshack Moshabi to the highest bidder in theBE manner PLEASED set out:TO TAKE NOTICE pursuant to a Judgment and Writ of Execution of this Honourable Court, the bidder in theBE manner PLEASED set out:TO TAKE NOTICE pursuant to a Judgment and Writ of Execution of this Honourable Court, the following property of the above named Defendant will be sold in execution by Deputy Sheriff Omphemetse following property of the above named Defendant will be sold in execution by Deputy Sheriff Omphemetse Peter Kaisara to the highest bidder in the manner set out: Peter Kaisara to the highest bidder in the manner set out: DATE OF SALE : 01st December 2020 DATE OF SALE : 02th December 2020 VENUE : Lot 62503, Tsholofelo East, Gaborone VENUE : Lot 28460, Gaborone DATE OF SALE : 23rd August 2020 DATE OF SALE : 23rd August 2020 TIME OF SALE : 10:30 hours TIME OF SALE : 10:30 hours VENUE : Lot 59555, Gaborone in Gaborone West Extension 48 VENUE : Lot 59555, Gaborone in Gaborone West Extension 48 TIME OF SALE : 10:30 Hours TIME OF SALE : 10:30 Hours TERMS OF SALE: Cash or bank guaranteed cheques. TERMS OF SALE: Cash or bank guaranteed cheques. TERMS OF SALE : Cash or bank guaranteed cheques. TERMS OF SALE : Cash or bank guaranteed cheques. PROPERTY TO BE SOLD : Defendant’s rights, title and interest in respect of a certain piece of land being Lot 62503, PROPERTY TO BE SOLD : Defendant’s rights, title and interest in respect of a certain piece of land being Lot 28460, th th Gaborone,PROPERTY in the Gaborone TO BE Administrative SOLD : Defendant’s District Held rights, Under title Deedand interest of Transfer in respect No. 1253/2016 of a certain dated piece 4 of day land of beingMay 2016 Lot Gaborone PROPERTYAdministrative TO District BE SOLD Held : UnderDefendant’s Deed rights,of Transfer title and No. interest 2127/2013 in respect dated of24 a certainday of pieceOctober of land 2013 being made Lot in 2 made in favour59555 of situate Charity in MuhammedGaborone West and Extensionmeasuring 48, 300m measuring2 together 300m with2 developmentstogether with somethereon developments being Sitting thereon Room, favour of Moitshepi59555 situate Victor in Leoketsa Gaborone and West measuring Extension 1080m 48, measuringtogether with 300m developments2 together with thereon some being developments four (4) bedrooms, thereon Kitchen, Twobeing bedrooms, 3 bedrooms bathroom house with Master Toilet, bedroom Screen wall,ensuite, Electric sitting fence room, and open paved plan kitchen, toilet and bath combined, Sitting Room,being Dining 3 bedrooms room, Leavinghouse Master Room, bedroom Kitchen, ensuite,Servant sittingsquatter, room, Double open garage, plan kitchen, Wall, toiletElectric and fence, bath combined,paved and single garage, veranda, paving, screen wall, electric fence and sliding gate. swimming singlepool. garage, veranda, paving, screen wall, electric fence and sliding gate. CONDITIONS OF SALE: Strictly Cash or Bank guaranteed cheques otherwise details and conditions of sale may be inspected atCONDITIONS the Plaintiff’s OF Attorney’s SALE : Strictly Cash or Bank guaranteed cheques CONDITIONSCONDITIONS OF SALE: OF Strictly SALE Cash : Strictly or Bank Cash guaranteedor Bank guaranteed cheques cheques otherwise details and conditions of sale may be inspected at the Plaintiff’s Attorney’s DATED ATDATED GABORONE AT GABORONE ON THIS 02ONND THISDAY 28OFth NOVEMBERDAY OF JULY 2020 2020 DATED AT GABORONE ON THIS 28th DAY OF JULY 2020 DATED AT GABORONE ON THIS 02ND DAY OF NOVEMBER 2020 Kebabonye│MwiyaKebabonye│Mwiya Attorneys Attorneys Kebabonye│Mwiya Attorneys Plot 74343,Plot Unit 74343, 24, Mowana Unit 24, Park, Mowana Phakalane Park, Phakalane Kebabonye│MwiyaPlot 74343, Attorneys Unit 24, Mowana Park, Phakalane P. O. Box 46770,P. O. Box 46770, Plot 74343,P. Unit O. Box 24, Mowana46770, Park, Phakalane GABORONEGABORONE [YTK/mk/8026] [YTK/mk/4074] ATTORNEYS P. O. Box 46770,GABORONE [YTK/mk/4074] ATTORNEYS Tel: - 3163572Tel: - 3163572 GABORONETel: [YTK/mk/8448] - 3163572 Deputy Sheriff Omphemetse Peter Kaisara Deputy SheriffDeputy Meshack Sheriff Moshabi Omphemetse Peter Kaisara Tel: - 3163572 Cell No.: 71222244/72195113/3190188 Cell No.: 71222244/72195113/3190188 Cell No.: 71619553/73301311 Deputy Sheriff Meshack Moshabi Cell No.: 71619553/73301311

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE MAGISTRATES COURT FOR THE DISTRICT OF H/W: TONOKI G. HELD AT LOBATSEIN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA GABORONE AT BROADHURST CASE NO: CCMBR – 001541-19 HELD AT GABORONE CASE NO: CVHGB-000509-19 In the matter between: CASE NO: CVHGB-001213-16 In the matter between; PALA B.WIn (PTY) the matter LTD t/a between: BUILDERS WORLD PALAPYE PLAINTIFF SEBALATLHENG SEGONE PLAINTIFF and BOTSWANA BUILDING SOCIETY Plaintiff and and EMRAAN ISMAIL DEFENDANT OTENG SOLOMON BATLHOPHI DEFENDANT AKANYANG ALOMET JOHN Defendant NOTICE OF SALE IN EXECUTION SUBSTITUTED SERVICE NOTICE OF SALE IN EXECUTION (Order 8 Rule 4) pursuant to a Judgment and Writ of Execution of this Honourable Court, the following BE PLEASEDBE PLEASED TO TAKE TONOTICE TAKE NOTICE pursuant to a Judgment and Writ of Execution of this Honourable Court, the TO: OTENG SOLOMON BATLHOPHI, an adult male of full legal capacity whose last known address is unknown to the property offollowing the above property named of Defendant the above willnamed be sold Defendant in execution will be by sold the in Deputy execution Sheriff by Deputy STANLEY Sheriff S. MBOLAIOmphemetse to the Plaintiff. highest bidderPeter in Kaisarathe manner to the set highest out: bidder in the manner set out:

rd DATE OF SALEDATE OF SALE : 03 December : 23rd August 2020 2020 BE PLEASED TO TAKE NOTICE that a Summons has been issued out of this Court, you have been called upon to give VENUE VENUE : Palapye : Lot Old 59555, Police Gaborone in Gaborone West Extension 48 notice within fourteen (14) days after publication hereof to the Court and Plaintiff’s Attorneys, of your intention to defend (if TIME OF SALETIME OF SALE : 09:30 hours : 10:30 Hours any) an action wherein the Plaintiff claims;

TERMS OFTERMS SALE: OF Cash SAL orE bank guaranteed : Cash or cheques. bank guaranteed cheques. i For payment of the sum of BWP 16, 600.00 (Sixteen Thousand Six Hundred Pula); ii) Interest thereon at the rate of 10% per annum from date of service of summons to date of payment in full; PROPERTYPROPERTY TO BE SOLD TO BE: Camry SOLD VVT-I : Defendant’s of Registration rights, No. title B and 825 interest BIE The in above respect is of sold a certain Voetstoot piece (as of landit is) being1 x Dining Lot iii) Cost of suit; table with 859555 chairs, situate 2 x Brown in Gaborone Sofas, 1x2 West Doors Extension LG Fridge, 48, 1measuring x Sumsung 300m Microwave,2 together 1 xwith Dish some washing developments Machine, thereon iv) Further and alternative relief that this Honourable Court may deem appropriate. being 3 bedrooms house Master bedroom ensuite, sitting room, open plan kitchen, toilet and bath combined, CONDITIONSsingle OF garage, SALE: veranda, Strictly Cash paving, or Bankscreen guaranteed wall, electric cheques. fence and sliding gate. TAKE NOTICE that an Order has been made that the publication of such Summons shall be deemed to be good and sufficient service of the Summons on you. LEGAL NOTICE LEGAL DATED ATCONDITIONS GABORONE OFON SAL THISE 02 : StrictlyND DAY Cash OF NOVEMBER or Bank guaranteed 2020 cheques TAKE NOTICE FURTHER that you are required to enter appearance to the Summons on or before fourteen (14) days from th Deputy SheriffDATED STANLEY AT GABORONE S. MBOLAI ON THIS 28 DAY OF JULY 2020 the date of publication, and if you fail to do so, judgment may be granted against you in your absence. Cell No.: 71635200 Kebabonye│Mwiya Attorneys C/o Kebabonye│Mwiya Attorneys DATED AT GABORONE THIS 30 TH DAY OF OCTOBER 2020. Plot 74343, Unit 24, Mowana Park, Phakalane Plot 74343, Unit 24 P. O. Box 46770, Mowana Park NKWE ATTORNEYS GABORONE [YTK/mk/4074] Phakalane ATTORNEYS Plaintiff’s Attorneys Tel: - 3163572 Plot 54513, Unit 8A, The Court Yard, Riverwalk P. O. Box 46770Deputy Sheriff Omphemetse Peter Kaisara P.O Box 81220 GABORONECell No.: 71222244/72195113/3190188 Tel: - 316 3572 Fax: 316 3580 GABORONE [YTK/mk/8359] THE BUSINESS WEEKLY & REVIEW 18 Friday 06 November 2020 - 12 November 2020 www.businessweekly.co.bw Legal Notice

from page 16 IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE CVHGB-001976-13 Tourism and hospitality counters in the red In the matter between: complete halt from that date the government that Gibson However, as the timeline of the nationwide lockdown period. Morulane points out, is that onwards”, says Gibson. “Revenues says has greatly contributed to crisis lengthens, there is pressureSTANBIC Gross profit BANK margins BOTSWANA declined any LIMITED local lockdown or Covid-19 Plaintiff collapsed overnight, but many shoring up the group’s financial to refund some prospective significantly due to payment restrictions have an immediate expenses remained in the form reserves. Government wage travellers, which presents a diceyand of salaries and other expenses negative impact on the group’s of payrolls, the cost of disposing subsidy received was P3.5 million. situation because the COVID-19 while operations were closed or performance. of perishable food and beverage Government has approved “Management will continue to crisis has taken many tourCAKWE curtailed. (PTY) Other LIMITED discretionary First Defendant items, lease fees to local and extension of the wage subsidy for operators through whom the costs were contained and variable actively assess whether certain central government and the the tourism sector for the months tourists originally booked outALBERT costs declined SEKATE in line KOKWE with level properties need to be temporarily Second Defendant necessity to secure and maintain July to December. Chobe received of operation. Secondly, in casesLYDIA of activity, KOKWE resulting in overall closed to minimise costs if Third Defendant properties and equipment in the P3.5 million in the initial three where the tour operator is still decline in earnings before interest occupancies remain subdued,” he hope of a resumption of business months of the scheme. operational, “we have no way to tax depreciation and amortisation says, adding that engagements in the not too distant future.” To protect and preserve ensure our repayment to that tour being contained at P40 million with staff and strategic partners With the view to preserving bookings already made, and most operator will find its way back compared to prior year. NOTICEwill alsoOF continue SALE in INorder EXECUTION to reach cash resources, Chobe salaries often pre-paid for in whole or into the hands of the traveller in Managing Director Mokwena agreements to further reduce and wages have been reduced, part, Gibson says the company’s whole or part”, says Gobson. Morulane says the Covid-19 costs and ensure that the business with greater cuts going up the marketing and reservations teams At ubiquitous hospitality outfit, pandemic has significantlyremains sustainable. “Concerted pay scale to a maximum of a 75 embarked on a “don’t cancel, Cresta, revenue declined by P94.5BE changedPLEASED the short TO toTAKE medium- NOTICEeffortsthat will pursuant also continue to a Judgmentto granted by the above percent reduction. However, the defer strategy ” which was well million (50 percent) in the firstHonourable term outlook Court, of the the tourism following market im movableattractive propertyholiday and will be sold by public auction by tourism accommodation entities received by most in anticipation half of 2020, primarily becauseDEPUTY industry SHERIFFin general andNTSHWARELANG brought retreat packages OOKAME to the domesticto the highest bidder as follows:- of the group took advantage that the closure of borders would of Covid-19 related cancellations about an unprecedented level market to drive more business to of a wage subsidy offered by be relatively short. or postponements and the of uncertainty. The calculus, the leisure properties.” TH IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE DATE OF SALE : 25 AUGUST 2020

IN THE HIGHCASE COURT NO: CVHGBOF THE 003130-15 REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA In the matter between: HELD AT LOBATSE HELDTIME AT GABORONE : 11: 00AM BOTSWANA BUILDING SOCIETY P laintiff CVHGB-001976-13 and IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CASE NO: CVHGB-000105-20 In the matter between: KABOYAONE ROY JEREMIAH InHELD the ATmatter LOBATSED efendant between VENUE : LOT 2249, LOBATSE AFRICAN BANKING CORPORATION OF BOTSWANA CASE NO: CVHGB-000105-20 Plaintiff IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE LIMITEDIn the matter T/A between: Banc ABC STANBIC BANK BOTSWANA LIMITED Plaintiff

NOTICE OF SALE IN EXECUTIONand AFRICANCASE BANKING NO: CVHGB CORPORATION 003130-15 OF BOTSWANA LIMITED T/A Banc ABC Plaintiff st andPROPERTY TO BE SOLD : Certain piece of land being Lot 2249, Lobatse, In the matter between: MOMPATIand BUZWANI 1 Defendant BE PLEASED TO TAKE NOTICE THAT pursuant to the Judgment granted by the Honourable Court the following st nd BOTSWANA BUILDING SOCIETY KEDUETSWEMOMPATIP laintiff BUZWANI BUZWANI 1 2Defendant Defendant situated at Lobatse Administrative District nd CAKWE (PTY) LIMITED First Defendant immovable propertyand of the Defendant will be sold by public auction by DeputyKEDUETSWE Sheriff Ikageng BUZWANI Seloi of 71472478 to 2 Defendant the highest bidderKABOYAONE as follows:- ROY JEREMIAH D efendant NOTICE OF SALE IN EXECUTION ALBERT SEKATE KOKWE measuringSecond Defendant523m² held under Deed of Transfer LYDIA KOKWE Third Defendant th NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION DATE OF SALE: 6th July 2017 BE PLEASED TO TAKE NOTICE THAT pursuant to the Judgment granted by the Honourable Court the No. 2000/2011 dated 13 day of OCTOBER following immovable property of the Defendants will be sold by public auction by Deputy Sheriff Opelo NOTICE OF SALE IN EXECUTION TIME OF SALE:BE PLEASED TO11:30am TAKE NOTICE THAT pursuant to the Judgment grantedBE by thePLEASED Honourable TO Court TAKE the followingNOTICE pursuant to the Judgment granted by the Honourable Court the following 2011 made in favour of CAKWE (PTY) immovable property of the Defendant will be sold by public auction by DeputyMothibi Sheriff ofIkageng Cell SeloiNo: of77 71472478 636 760/72 to 234 419 to the highest bidder as follows: PLACE OF SALE: Tribal Lot 12300, Tlokweng immovable property of the Defendants will be sold by public auction by Deputy Sheriff Opelo Mothibi of Cell No: BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above Honourable Court, the highest bidder as follows:- LIMITED together with some developments, DATE77 636 OF760/72 SALE 234 419 to the highest bidder: 27as thfollows: November 2020 the following immovable property will be sold by public auction by DEPUTY SHERIFF NTSHWARELANG PROPERTY TODATE BE SOLDOF SALE:: 6th July 2017 TIME OF : 10:00 am OOKAME to the highest bidder as follows:- thereon being a two bedroom house with sitting TH 2 Defendant’s rights,TIME title OF SALE:and interest on11:30am a certain piece of Land being TribalVENUE DATELot 12300, OF SALE: Tlokweng measuring12 AUGUST 759m 2020: Tribal Lot 4664, Tlokweng together with developmentsPLACE OF SALE: thereon beingTribal aLot main 12300, house Tlokweng with a 3 bedroomTIME master OF en-suit,SALE: fitted kitchen,10:00am. sitting room, DATE OF SALE : 15TH OCTOBER 2020 room, fitted kitchen, combined bathroom and dining room and multi residential developments being 2 bedroom house, sittingPROPERTYPLACE room OF andSALE: TO kitchen BE SOLDTribal : Defendant’s Lot 4664, Tlokweng rights, title and interest on a certain piece of land being Tribal PROPERTY TO BE SOLD: toilet and a servant’s quarter consisting of one Lot 4664, Tlokweng measuring 1084m2 with developments thereon being a 3 bedroomed house with TIME : 11:00 AM Defendant’s rights, title and interest on a certain piece of Land being Tribal Lot 12300, Tlokweng measuring 759m2 TERMS AND CONDITIONStogether with developments: thereon being a main house with a 3 bedroomfitted PROPERTYmaster en-suit,kitchen; TO fitted BESitting kitchen,SOLD room; :sitting Defendant’s Bathroomroom, rights, and title Toilet and andinterest a 2 onbedroomed a certain piece house of land with being Sitting Tribal Room; Lot 4664, Kitchen, bedroom, kitchen and shower. 2 Cash or Bank guaranteeddining room and cheque multi residential otherwise developments details and being conditions 2 bedroom of house, sale sitting mayShowerTlokweng roombe inspected and measuring kitchen a Screenwall. at 1084m the Plaintiff’s with developments Attorneys thereon being a 3 bedroomed house with fitted kitchen; Sitting VENUE : LOT 2249, LOBATSE offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue,room; Gaborone.Bathroom and Toilet and a 2 bedroomed house with Sitting Room; Kitchen, Shower and a Screen wall. TERMS AND CONDITIONS: TERMS OF SALE : Cash or Bank guaranteed cheque otherwise details and conditions of sale may be PROPERTY TO BE SOLD : Certain piece of land being Lot 2249, Lobatse, situated at Lobatse TERMS OF SALE 2 : Subject to ConditionsTH of Sale. Cash or Bank guaranteed cheque otherwise details and conditions of sale mayinspectedTERMS be inspected AND at CONDITIONSthe at the Plaintiff’s Plaintiff’s: AttorneysCashAttorneys or Bank offices guaranteed or Deputy cheque Sheriff’s otherwise office details situated and conditions at Plot387, of sale mayExtension be 4, Administrative District measuring 523m held under Deed of Transfer No. 2000/2011 dated 13 day DATED AT GABORONEoffices or Deputy THIS Sheriff’s 6th DAY Office OF situated JUNE at 2017 Plot 387, Independence Avenue, Gaborone. of made in favour of together with some developments, Gaborone.inspected at the Plaintiff’s Attorneys offices or Deputy Sheriff’s office situated at Extension 2, Gaborone. OCTOBER 2011 CAKWE (PTY) LIMITED Only cash or bank guaranteed cheques will thereon being a two bedroom house with sitting room, fitted kitchen, combined bathroom and toilet and a DATED AT GABORONE THIS 6th DAY OF JUNE 2017 DEPUTY SHERIFF IKAGENG SELOI c/o TH servant’s quarter consisting of one bedroom, kitchen and shower. be accepted. DATEDDATED IN IN GABORONE GABORONE ON ONTHE THE 18TH DAY12 OFDAY JUNE OF 2020.OCTOBER 2020. 71472478 DEPUTY SHERIFF IKAGENG SELOI c/o DEPUTY SHERIFF OPELO MOTHIBI c/o TERMS OF SALE : Subject to Conditions of Sale. Only cash or bank guaranteed cheques will be Plaintiff’s Attorneys71472478 DEPUTY SHERIFF OPELO MOTHIBI c/o Plot 387, IndependencePlaintiff’s Attorneys Avenue DATED AT accepted. GABORONE ON THIS THE JULY 2020. Private Bag Bo Plot177 387, Independence Avenue Private Bag Bo 177 DATED AT GABORONE ON THIS THE 3RD DAY OF NOVEMBER 2020. GABORONE GABORONE (TS/mm/10312)(TS/mm/10312) Plaintiff’sPlaintiff’s Attorneys Attorneys OSEI-OFEI SWABI & CO. PlotPlot 387, 387, Independence Independence Avenue Avenue Plaintiff’s Attorneys PrivatePrivate Bag Bag Bo Bo 177 177 First Floor, Unit 18, Kgale Mews GABORONEGABORONE Gaborone International Finance Park, (SBP/lr/13240)(SBP/lr/13240) P O Box 403506, GABORONE (Ref: DS.gno.009069) Deputy Sheriff Ntshwarelang Ookame Cell no. 72879169

------OSEI-OFEI SWABI & CO. Plaintiff's Attorneys IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CVHGB – 000503 -17 IN THE HIGH COURT FOR THE REPUBLIC OF BOTSWANA CVHGB – 002292 -16 HELD AT LOBATSE HELD AT LOBATSE First Floor, Unit 18 Kgale Mews, JUDGE – LEBURU JUDGE – RADIJENG Gaborone International Finance Park In the matter between In the matter between STANBIC BANK BOTSWANA LIMITED Plaintiff STANBIC BANK BOTSWANA LIMITED PlaintiffP O Box 403506 and and ELIZABETH PALELO 1st Defendant MERCY MOLEFE DefendantGABORONE DANIEL PALELO 2nd Defendant

NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION (Ref: DS.gno.009069)

BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above Honourable Court, the BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above HonourableDeputy Court, Sheriffthe Ntshwarelang Ookame following immovable property will be sold by public auction by DEPUTY SHERIFF NONOFO MABINA to the following Immovable property will be sold by public auction by DEPUTY SHERIFF NONOFOCell MABINA no. to the72879169 highest bidder as follows:- highest bidder as follows:- LEGAL NOTICE LEGAL DATE OF SALE : WEDNESDAY, 9TH DECEMBER 2020 DATE OF SALE : TUESDAY, 8TH DECEMBER 2020 TIME : 10:30 HOURS TIME : 14:30AM VENUE : LOT 28317, GABORONE VENUE : TRIBAL LOT 306, RASESA PROPERTY TO BE SOLD : PROPERTY TO BE SOLD : IMMOVABLE: Certain piece of land being Lot 28317, Gaborone, measuring 428m2 together with some IMMOVABLE : A Certain Piece of Land being Tribal Lot 306, Rasesa, Situate in the Bakgatla Tribal Territory developments thereon comprising of a three bedroomed house, dining room, sitting room, kitchen, bathroom, 2 toilet, one ensuite, servants’ quarter, paved yard, boundary wall and electric fence. measuring 1869m comprising of Master en-suite, 2x bedrooms, fitted kitchen, Bathroom and toilet, sitting room, Dining room, Single Garage, Servants Quarter, Screen Wall, Sliding Gate and Paved, held under Memorandum of DATED AT GABORONE ON THIS THE 5th DAY OF NOVEMBER 2020 Agreement of Lease No. TL 452/2011 dated the 5th May 2011 made in favour of MERCY MOLEFE.

TERMS OF SALE : Only cash or bank guaranteed cheques will be accepted.

DATED AT GABORONE ON THIS THE 5th DAY OF NOVEMBER 2020 BAOLEKI ATTORNEYS Plaintiff’s Attorneys BAOLEKI ATTORNEYS Plot 131, Unit 11, Nkwe Square Plaintiff’s Attorneys Gaborone International Finance Park, Plot 131, Unit 11 Nkwe Square, P O Box 45111 Gaborone International Finance Park GABORONE P O Box 45111 (Ref: MMB/nm/001521) GABORONE Deputy Sheriff Nonofo Mabina (Ref: MMB/nm/001271) Deputy Sheriff Nonofo Mabina Cell no. 71657100/71801582 Cell no. 71657100

THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Legal Notice Friday 06 November 2020 - 12 November 2020 19

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT LOBATSE IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CVHGB-001439-19 HELD AT GABORONE CVHGB-001439-19 In the matter between: STANBIC BANK BOTSWANA LIMITED Plaintiff In the matter between: and STANBIC BANK BOTSWANA LIMITED Plaintiff LONE KETSITLILE Defendant and INTLAFATSO TSIE Defendant NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above Honourable Court, the following immovable property will be sold by public auction by DEPUTY SHERIFF NTSHWARELANG OOKAME BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above Honourable Court, the to the highest bidder as follows:- following immovable property will be sold by public auction by DEPUTY SHERIFF NTSHWARELANG OOKAME to the highest bidder as follows:- DATE OF SALE : 15th DECEMBER 2020 TIME : 10:30 A.M. DATE OF SALE : 16th DECEMBER 2020 VENUE : LOT 10103, GABORONE. TIME : 10:30 A.M. VENUE : TRIBAL LOT 7070, TLOKWENG PROPERTY TO BE SOLD: Certain piece of land being LEASE AREA 3239-KO, ON LOT 10103 GABORONE, in GABORONE ADMINISTRATIVE DISTRICT measuring 992 m2 held under Notarial Deed of Lease No. MA PROPERTY TO BE SOLD: Certain piece of land being TRIBAL LOT 7070, Tlokweng, at Tlokweng in the 613/2007 dated 7TH day of DECEMBER 2007 made in favour of LONE ELIZABETH KETSITLILE together with Batlokwa Tribal Territory, measuring 900m2, held under Memorandum of Agreement of Lease No. TL 758/2011 some developments, thereon being a Paved yard, double door garage, three Bed-roomed house, all with bath dated 15TH JULY 2011 and made in favour of INTLAFATSO TSIE, together with the developments thereon being tabs and gloss, sliding door, master ensuite, fitted kitchen, sitting room, prayer room, washing room, all bedrooms a screen Wall with Electric Fence, motorised gate, a house with a master’s ensuite, one bedroom with fitted with fitted wall ward ropes, servants quater with bath tab, screen wall, motorised gate with electric fence. kitchen, living room and fitted kitchen house.

TERMS OF SALE: Subject to Conditions of Sale. TERMS OF SALE: Subject to Conditions of Sale. Only cash or bank guaranteed cheques will be accepted. Only cash or bank guaranteed cheques will be accepted.

DATED AT GABORONE ON THIS THE 2TH DAY OF NOVEMBER 2020. DATED AT GABORONE ON THIS THE 2TH DAY OF NOVEMBER 2020.

OSEI-OFEI SWABI & CO. OSEI-OFEI SWABI & CO. Plaintiff’s Attorneys Plaintiff’s Attorneys First Floor, Unit 18 Kgale Mews, First Floor, Unit 18 Kgale Mews, Gaborone International Finance Park Gaborone International Finance Park P O Box 403506 P O Box 403506 GABORONE GABORONE (Ref: DS.gno.012835 (Ref: DS.gno.012397) Deputy Sheriff Ntshwarelang Ookame) Deputy Sheriff Ntshwarelang Ookame) Cell no. 72879169 Cell no. 72879169

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE. HELD AT GABORONE. CASE NO. CVHGB-002713-17 CASE NO. CVHGB-002771-17 In the matter between: In the matter between: STANDARD CHARTERED BANK BOTSWANA LIMITED PLAINTIFF STANDARD CHARTERED BANK BOTSWANA LIMITED PLAINTIFF and and AKIM KGAJANE SETSWALO DEFENDANT LAME SETSWALO DEFENDANT

NOTICE OF SALE IN EXECUTIONIN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA NOTICE OF SALE IN EXECUTIONIN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE Case No. CVHGB - 000066-15 HELD AT GABORONE Case No. CVHGB - 000066-15 that pursuant to the judgment of the above Honourable Court, the movable that pursuant to the judgment of the above Honourable Court, the movable BE PLEASED TO TAKE NOTICE In the matter between: BE PLEASED TO TAKE NOTICE In the matter between: property of the above named Defendant shall be publicly sold in executionSTANBIC by the BANKDeputy BOTSWANA Sheriff as follows:LIMITED property of the above PLAINTIFF named Defendant shall be publicly sold in executionSTANBIC by the BANKDeputy BOTSWANA Sheriff as follows:LIMITED PLAINTIFF And And DATE OF SALE : 19TH NOVEMBER 2020 RABOKAUNA TOKO DATE OF SALE DEFENDANT: 19TH NOVEMBER 2020 RABOKAUNA TOKO DEFENDANT PLACE : Broadhurst Police Station, Gaborone PLACE : Broadhurst Police Station, Gaborone NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION TIME : 10:00 a.m TIME : 10:00 a.m BE PLEASED TO TAKE NOTICE that pursuant to the judgment of the above Honourable Court, the BE PLEASED TO TAKE NOTICE that pursuant to the judgment of the above Honourable Court, the PROPERTY TO BE SOLD: 1 x 1 Dinning suite , 1 x 1 KIC Deep Freezer,movable 1 Samsung property of Plasma the above TV, named 1 Washing Defendant shall bePROPERTY publicly sold in TO execution BE SOLD by the: Toyota Deputy HiluxSheriff Registration B 248 AZM, white inmovable colour property of the above named Defendant shall be publicly sold in execution by the Deputy Sheriff Machine and Land Cruiser Registration B 427 AWR, white in colour as follows: as follows: CONDITIONS OF SALE: Details and conditions of sale may be inspected at the Plaintiff’s Attorneys offices. DATE OF SALE: 21st October 2016 DATE OF SALE: 21st October 2016 CONDITIONS OF SALE: Details and conditions of sale may be inspectedVENUE: at the Plaintiff’s AttorneysBroadhurst offices. Police Station VENUE: Broadhurst Police Station TIME: 10:30 am TERMS OF SALE: Cash or bank guaranteed cheques. TIME: 10:30 am TERMS OF SALE: Cash or bank guaranteed cheques. PROPERTY TO BE SOLD: 1 x Mazda, with registrationDATED number AT B 928GABORONE AID, BLUE in THIS colour 3RD DAY OF NOVEMBER 2020. PROPERTY TO BE SOLD: 1 x Mazda, with registration number B 928 AID, BLUE in colour RD DATED AT GABORONE THIS 3 DAY OF NOVEMBER 2020. TERMS OF SALE: Cash or bank guaranteed cheques. TERMS OF SALE: Cash or bank guaranteed cheques. DEPUTY SHERIFF QUEEN KHAME ( CELL: 72670000/75524033 DEPUTY SHERIFF QUEEN KHAME ( CELL: 72670000/75524033 DATED AT GABORONE THIS 12TH OCTOBER 2016. C/O BOGOPA, MANEWE, TOBEDZA &CO DATED AT GABORONE THIS 12TH OCTOBER 2016. C/O BOGOPA, MANEWE, TOBEDZA &CO Plaintiff’s Attorneys DEPUTY SHERIFF URGENT JAY CHILISA DEPUTY SHERIFF URGENT JAY CHILISA Plaintiff’s Attorneys Plot 54368 New CBD C/O BOGOPA, MANEWE, TOBEDZA & CO C/O BOGOPA, MANEWE, TOBEDZA & CO Plot 54368 New CBD Plaintiff’sUnit Attorneys 16 CD, 16 th Floor Plaintiff’s Attorneys Unit 16 CD, 16 th Floor Plot 510,iTowers Off Southring North Mall Plot 510, Off Southring Mall iTowers North Cnr of MahereroGABORONE Lane & Montshioa Way Cnr of Maherero Lane & Montshioa Way GABORONE ExtensionTel: 4, 3905466Gaborone Extension 4, Gaborone P. O. Box 26465, P. O. Box 26465, Tel: 3905466, Fax: 3905451 GABORONEFax: 3905451 GABORONE Tel: 3905466, Fax: 3905451; Tel: 3905466, Fax: 3905451; Cell: 71594008/72821439 (Deputy Sheriff) Cell: 71594008/72821439 (Deputy Sheriff)

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT LOBATSE. HELD AT LOBATSE CASE NO. CVHGB-001447-14 CASE NO. CVHGB - 002296 - 15 In the matter between: In the matter between AFRICAN BANKING CORPORATION OF BOTSWANA LIMITED t/a BANC ABC PLAINTIFF STANBIC BANK BOTSWANA LIMITED PLAINTIFF and and RUDO INVESTMENTS (PROPRIETARY) LIMITED 1ST DEFENDANT PHATSIMO NONOFO GOMBALUME DEFENDANT KERESEPE ARETHA PHETLHU IN THE HIGH COURT OF THE2ND DEFENDANT REPUBLIC OF BOTSWANA HELD AT GABORONE Case No. CVHGB - 000066-15 NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION In the matter between: th STANBIC BANK BOTSWANA LIMITED BE PLEASED TO TAKE PLAINTIFF NOTICE THAT pursuant to a Judgment granted by the above Honourable Court on the 04 BE PLEASED TO TAKE NOTICE that pursuant to the judgment of the above HonourableAnd Court, the immovable property of January 2016 the following immovable property of the abovementioned Defendant will be sold by means of public auction st the above named 1 Defendant shall be publicly sold in execution by the DeputyRABOKAUNA Sheriff as follows: TOKO to the highest bidder by DEFENDANT Deputy Sheriff N. Ookame as follows:

th DATE OF SALE : 26 November 2020 NOTICE OF SALE IN DATEEXECUTION OF SALE : Wednesday 02 December 2020. PLACE : Plot 21013, Phase V, Francistown VENUE : Plot 6697, Broadhurst Ex. 16A, Gaborone LEGAL NOTICE LEGAL TIME : 11:00 a.m BE PLEASED TO TAKE NOTICE that pursuant to theTIME judgment OF SALEof the above : 1030 Honourable hours Court, the movable property of the above named Defendant shall be publicly sold in execution by the Deputy Sheriff PROPERTY TO BE SOLD: Certain piece of land being Lot 21013, Phaseas follows:V, Francistown, situate in Francistown TERMS OF SALE : All participating bidders are required to make an upfront payment of BWP 10 000.00 directly to the Administrative District, measuring 1.335m² (One Thousand Three Hundred and Thirty five square Metres) which is held undersigned Attorneys, refundable only to those who did not succeed in the sale. Only cash or bank guaranteed cheques st under Deed of Fixed Period State Grant No. 512/2000 dated 15th day of March 2000DATE made OF SALE:in favour of KERESEPE21 October ARETHA 2016 will be accepted. The detailed conditions of sale are available for inspection at the undersigned Attorneys’ offices PHETLHU together with the developments therein (Ntshe Lodge) VENUE: Broadhurst Police Station TIME: 10:30 am PROPERTY TO BE SOLD : The Defendant’s title rights and interest in a certain piece of land being Lot 6697, (Portion of Lot CONDITIONS OF SALE: Details and conditions of sale may be inspected at the Plaintiff’s Attorneys offices. 6653, Gaborone) situate in the Gaborone Administrative District, measuring 667m2 (Six Hundred and Sixty Seven Square PROPERTY TO BE SOLD: 1 x Mazda, with registration number B 928 AID, BLUE in colour Metres) which property is held under Deed of Transfer Number No. 1070/2006 dated the 12th May 2006 together with all TERMS OF SALE: Cash or bank guaranteed cheques. TERMS OF SALE: Cash or bank guaranteedthe cheques. improvements thereon being a 2 bedroomed house with master – ensuite, sitting room, kitchen, common bathroom with toilet, screen wall with electric fence, Servant’s Quarter with a bedroom, kitchen and shower with toilet. th DATED AT GABORONE THIS 29 DAY OF OCTOBER 2020. DATED AT GABORONE THIS 12TH OCTOBER 2016. DATED AT GABORONE ON THIS 20TH DAY OF OCTOBER 2020. DEPUTY SHERIFF IKAGENG SELOI: Cell: 71472478 DEPUTY SHERIFF URGENT JAY CHILISA C/O BOGOPA, MANEWE, TOBEDZA & CO C/O BOGOPA, MANEWE, TOBEDZA & CO COLLINS CHILISA CONSULTANTS. Plaintiff’s Attorneys Plaintiff’s Attorneys Plaintiff’s Attorneys Plot 54368 New CBD Plot 510, Off Southring Mall Plot 4858, Lecha Close Unit 16 CD, 16th Floor Cnr of Maherero Lane & Montshioa Way Off Marakanelo Way iTowers North Extension 4, Gaborone Extension 11 GABORONE P. O. Box 26465, P O Box 45136 GABORONE P. O. Box 26465 GABORONE Tel: 3905466, Fax: 3905451; GABORONE Deputy Sheriff N Ookame Cell: 71594008/72821439 (Deputy Sheriff) Tel: 3905466, Fax: 3905451 [Cell No. 72879169/77435503]

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Absa Bank Botswana Limited (registered number BW00001237900) is regulated by the Bank of Botswana.