A REFINED READ A REFINED READ stop gender : @THEBWRBOTSWANA : FACEBOOK.COM/THE BUSINESS WEEKLY & REVIEW based : @THEBWRBOTSWANA : FACEBOOK.COM/THE BUSINESS WEEKLY & REVIEW violence FRIFRIDAYDAY 1130 SE OCTOBERpTEMBER 20202020 -- 0517 NOVEMBERSEpTEMBER 20202020 VOL. 2 ISSUE #319#312 VAT#:VAT#: C31201701111C31201701111 PRICE:pRICE: BWP 10.50 (Inc. VAT) BATTLEMatsheka OF THEtackles MIGHTY ‘dirty Have a valid Money’…As Tafa, Desai leaks face-off Purchase Order that • presents a Bill to plUg holes With tighter controls needs financing? In what promises to become the biggest commercial legal battle ever, No Problem. two of Botswana’s finest corporate attorneys, also former partners Have a valid at Collins Newman & Co, Parks Tafa and Rizwan Desai, find themselves Purchase Order that having to lock horns in the multi-billion Pula lotto tender case. Standardneeds financing? The high rollers are former colleagues of immense expertise in No Problem. corporate law whose addiction to success is as high as the stakes Chartered PO in the case. Staff Writer KEABETSWE NEWEL reports Financing offers story on page 03, 04, 05 & 08 yourStandard business: Chartered PO • FinancingFinancing upoffers to 6 yourmonths business: • No financial • submissionFinancing up - to 6 onlymonths 6 months • bankNo financial statements requiredsubmission - • Cessiononly 6 months of Paymentbank statements used as collateralrequired

It’s• Cession simple. We of take care of Paymentthe details to used power as yourcollateral business ambition. For more information talk to yourIt’s simple.Branch, Relationship We take care Managerof the details or email to power How Pelaelo & Co. let StanbiC run amok [email protected] business ambition. story on pages 03, 06 &08 For more information talk to Download the SC Mobile your Branch,Botswana Relationship App today. INSIDE Manager or email Dpp Digs his aBsa forecasts managing risKs [email protected] heels in to massive profit throUgh frame- nail Kgosi Decline WorKs &policies Download the SC Mobile The DPP, Stephen Tiroyakgosi, is The MD of ABSA, Keabetswe Pheko- There is a say that if something is not Botswana App today. opposing an application in which the Moshagane, and the bank’s Finance in black and white it doesn’t exist! This founding head of DISS, Isaac Kgosi, Director, Cynthia Morapedi, are forms the basis of why organizations Thewants his indictmentstrenuous in the National expected to report t erraina down beat financial forand businesses needbanks to craft internal Petroleum Fund (NPF) ...page 04 performance for the first...page 09 policies and frameworks...page 14 story on page 09, 13 & 16 Terms and conditions apply. DOMESTICDOMESTIC EXCHANGE EXCHANGE RATES: RATES: USD/BWP USD/BWP 0.0853 0.0862 ZAR/BWP ZAR/BWP 1.4643 1.4637 GBP/BWP GBP/BWP 0.0679 0.0665 EURO/BWP 0.07330.0756 ...MARKET...MARKET HIGHLIGHTSHIGHLIGHTS ONON PAGE 09

Terms and conditions apply. THE BUSINESS WEEKLY & REVIEW 2 Friday 30 October 2020 - 05 November 2020 www.businessweekly.co.bw News

Ngakaagae wants Bakang Seretse INSIDE NPF charges demands News 2-7 his money Tax & your Pocket 8 Kgosietsile Companies & Markets 9-16 dropped Ngakaagae and prop- erty back TEAM • DPP case could collapse • Kebonang twins acquitted Editor-In-chief • Says his assets Kabo Ramasia lawyer, the state has instituted a Keabetswe Newel are being held [email protected] Staff Writer trial by ambush characterised by its inability to explain charges. unlawfully he National Petroleum “They should go back, regroup Business Editor KABO RAMASIA Fund (NPF) case in which and come back when they Kitso Dickson Staff Writer [email protected] Thigh profile figures face have put their house in order,” corruption charges, appears Ngakaagae charged. rominent headed for collapse as the As a new development, he then Kabo Ramasia Sub Editor businessman Douglas Motheo defence moves to have all charges made an application for exception Staff BakangWriter Seretse as provided for by Section 144 P [email protected] dropped. wants his money and In the aftermath of the acquittal of The Criminal Procedure property that were seized HEAD OF Graphics of the Kebonang twins Sadique and Evidence Act. “We submit by the Directorate on Taelo Maphorisa and Zein for lack of evidence, that we (have) made a case Corruption and Economic [email protected] defence lawyers Kgosietsile on exception,” he stated. Crimes (DCEC) in 2018 Ngakaagae and Unoda Mack “We are saying that these back. have called on the court to set charges must be struck The seizure was done in DISCLAIMER aside the remaining charges, off the charge sheet. The the course of investigations Commentaries, letters and columns saying they don’t make sense. remedy for exception is into the alleged money present are the views of the authors Ngakaagae, who acts for striking off (charges).” laundering and racketeering and not necessarily those of Bakang Seretse, Kenneth Ngaakagae attacked the DPP’s involving P250 million that The Business Weekly & Review Kerekang, Mpho Kerekang and charge sheet, saying it does not was purportedly siphoned Tshepho Bojelo, said the charges make sense either in law or in off the National Petroleum English. He proceeded to make PUBLISHED BY against Bojelo and Kerekang do Fund (NPF). not state their crimes and that reference to Kerekang’s charge in Court records seen by this THE BUSINESS WEEKLY & REVIEW it is not enough for the state to which the state alleges that for the publication show that Seretse Post: Post Net Kgale View 449 ADD, mention that people “acted in valuable consideration of Bakang is demanding that the state Gaborone, Botswana common purpose”. Seretse, Kerekang transacted opposition from the prosecution return money frozen in the TEL: (+267) 3170 615 “Participation in an offence P250 million to Khulacho (Pty) and will set a date for the ruling accounts of Khulaco (Pty) Unit 16, Gaborone International is not an offence,” he asserted. Ltd on the exception application,” Finance Park, Gaborone, Botswana Ltd, M&B Properties (Pty) “Participating knowingly in an Making submissions before Magistrate Mmesi said. Ltd and Leomog Investments offence is an offence.” Extension II Chief Magistrate, In the meantime, Unoda Mack [email protected] (Pty) Ltd, all of which the Kamogelo Mmesi, Ngakaagae representing the Kebonang www.businessweekly.co.bw During the status hearing of prosecution alleges were the case held at Extension II said the DPP’s grave deficiencies brothers said following the High involved in plundering the Magistrates Court on Wednesday, can only mean that they charged Court’s ruling which set aside NPF. CONNECT WITH US the outspoken defence counsel people to embarrass them. He his clients charges, he intends At the time of the alleged Follow: @TheBWRBotswana asked the court to deal with condemned the behaviour of the to write a letter to the DPP to crimes, Seretse’s other facebook.com/businessweeklyBW what he termed abuse of power DPP and said the charges should give them space to reconsider company, Basis Points instagram.com/businessweekly_BW by the Directorate of Public fall right away. continuing prosecution against Capital, was providing Prosecutions ((DPP). “The errors are just too many, their failure of which he will consultancy to the Ministry Ngakaagae said the charges almost in every single count,” he approach the High Court again. of Mineral Resources, Green of money laundering as faced stated. The brothers want to be Technology and Energy WEATHER by Bojelo, Kago Setimela and Whereupon prosecutor Pascal removed from future court Security. Mogomotsi Seretse do not state Mandu stood up to oppose appearances following their Seretse is calling for the GABORONE TODAY (FRI) what offence they committed. exception for the charges to fall triumph earlier this week. release of his property “The charge sheet speaks to off even though the state failed The case is set to return on the that he asserts is being o possible malicious prosecution,” to file opposing papers. This 08th December 2020 where it is “unlawfully held” by the 22 he said. “In law you can’t present was objected by the defence, expected that court will make a state. The respondents are malice as fact. It’s a subjective prompting the court to rule determination on the defence’s the Attorney General, the state of mind.” that “the court will proceed request for their charges to be According to the defence on the basis that there is no struck off. to page 08

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TENDER NO: CEDA 002 / 2020 – 2021 INVITATION TO TENDER FOR PROVISION OF CONSULTANCY SERVICES FOR THE DEVELOPMENT OF AN INNOVATION23° AND CHANGE MANAGEMENT FRAMEWORK Lo 2°C 1. Citizen Entrepreneurial Development Agency (CEDA) invites bids from 100% Citizen Owned suitably qualified and experienced companies/partnerships/ PLENTY OF SUNSHINE joint venture or consortiums registered and operating in Botswana for the provision of consultancy services for the development of a comprehensive SUNDAYInnovation and change management framework within the purview of the Agency’s mandate and strategic intent. 2. Public Procurement and Asset Disposal Board (PPADB) Registration; Code 317 Sub Codes 01 issued by PPADB is required for this tender.

3. All21° Bids must be received no later than 15:00hrs on 16th November 2020 (As per CEDA timepiece placed at Reception Area). Lo 1°C PLENTY OF SUNSHINE EXPRESSION OF INTEREST CEDA EOI 003/2020-2021 FOR THE PROVISION OF WAREHOUSE SPACE FOR CEDA MONDAY 1. Citizen Entrepreneurial Development Agency (CEDA) invites proposals from 100% Citizen Owned companies/partnerships/joint ventures/ consortiums or individuals (Botswana Nationality) to provide a warehouse facility for CEDA for a period of three (3) years

2. Closing23° date for proposal submission must be no later than 15:00hrs on 16th November 2020 (as per CEDA timepiece displayed at the Reception Area) Lo 1°C CHILLY To view full tender advert please visit CEDA website www.ceda.co.bw THE BUSINESS WEEKLY & REVIEW News www.businessweekly.co.bw Friday 30 October 2020 - 05 November 2020 3 CLASH OF THE TITANS …As Tafa, Desai face-off

In what promises to become the biggest commercial legal battle ever, two of Botswana’s finest corporate attorneys, also former partners at Collins Newman & Co, Parks Tafa and Rizwan Desai, find themselves having to lock horns in the multi-billion Pula lotto tender case. The high rollers are former colleagues of immense expertise in corporate law whose addiction to success is a high as the stakes in the case. Staff Writer KEABETSWE NEWEL reports

ollins Newman & Co is His rival in the historic matter corporate litigations were also multi-billion pula transactions During these milestones, Desai one of the biggest law that pits them against each other easily won under the erstwhile in leading commercial banks like was Tafa’s partner at Collins Cfirms in Botswana. Its in court, Rizwan Desai, is a mighty Collins Newman & Co. Barclays (now ABSA) and Stanbic Newman & Co for a good 16 years Managing Partner, Parks Tafa, reserved and conservative figure To mention but a few, years ago, Bank. The first-ever successful until a break-up in 2016 that gave was at some point Botswana’s by nature but a highly decorated Collins Newman & Co was there privatisation of a government birth to Desai Law Group (DLG). de-facto Attorney General to corporate/commercial attorney to facilitate one of the biggest institution, which saw the Sources in the legal sector say the whom the government referred who can also lay claim to Collins transactions in the history of Initial Public Offering (IPO) of break-up was boiled down to an ahead of the substantive Attorney Newman &Co’s legacy. The two Botswana, the $5.1 billion (over Botswana Telecommunications egocentric power play. Led with General of the time. A shrewd men have been a force of note in P55 billion) acquisition of a 40 Corporation Limited (BTCL) Desai’s prowess in commercial businessman and workhorse, Botswana’s small legal fraternity. percent stake in De Beers by to list on the Botswana Stock law honed by an LLB Hons from Tafa has been the face of Collins Major commercial transactions Anglo American. The law firm Exchange Limited (BSEL) the University of Edinburgh and Newman & Co ever since most of have been won under their also advised on the P11 billion made, was done then by Collins its founders left. watch. High profile, political and Morupule B project. It handled Newman & Co. to page 04

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Better Business Case® is a trademark of her Majesty’s Treasury.The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc. PRINCE2®/ PRINCE2 Agile®/ AgileSHIFT® are registered trade marks of AXELOS Limited,used under permission of AXELOS Limited. All rights reserved. The Swirl logo™ is a trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved. THE BUSINESS WEEKLY & REVIEW 4 Friday 30 October 2020 - 05 November 2020 www.businessweekly.co.bw News CLASH OF THE TITANS FROM page 03 Ithuba Solutions’ application, Newman & Co, together with an application on Thursday last a Masters from Harvard Law this means that Grow Mine Armstrongs Attorneys, will lock week to have the national lotto School, DLG hit the ground Africa will also have to defend horns with Desai Law Group. In license negotiations between the running in corporate and the same matter to a certain essence, Tafa will face his former Gambling Authority and Grow commercial law, soon roping in extent. Grow Mine is cited as 4th partner in Desai, which will Mine Africa stopped. major blue chip clients. Respondent. make the legal battle all the more After Grow Mine Africa was But since its formation in 2016, It appears that most of the cited interesting. selected as preferred bidders, the DLG has never had any major respondents are not opposing the Sources in the legal field next step was to negotiate for legal encounter with Collins Ithuba Solutions application, describe Tafa as a workaholic a national lotto licence, which Newman & Co. But this will save for the Gambling Authority and a perfectionist whose Armstrongs Attorneys indicated change because the two are at and Grow Mine Africa. As ethos are focused on winning in available evidence that the opposite ends in an ongoing high the preferred bidders for the and making money. He has a Gambling Authority intended to profile case involving a multi- lotto tender, Grow Mine Africa reputation for being ruthless have the negotiations completed billion pula national lottery has a lot to lose because if in the courtroom. On the other by 30 November 2020. This tender. In the matter, Ithuba Ithuba Solutions’ application hand, while a bit conservative follows a letter dated 19 October Solutions (Pty) Ltd is challenging becomes successful in court, by comparison, Desai is said to 2020 written by Gambling the Gambling Authority’s Grow Mine Africa will lose the be an equally ruthless corporate Authority lawyers, Armstrong decision of selecting Grow Mine potentially multi-billion business attorney. He is also described Attorneys, indicating that the Africa (Pty) Ltd as the preferred opportunity. To safeguard such as a boardroom strategist with lotto licence applications were bidder for the lucrative tender a potentially lucrative business tonnes of experience in corporate expected to commence around 16 opportunity, Grow Mine legal deals. November 2020. that is Botswana’s first national Rizwan Desai Desai Law Group lottery. Africa recently roped in Collins Ziga at Armstrongs Attorneys Ithuba’s urgent application In contesting that decision, Newman & Co, led by Parks Tafa, also is a decorated commercial seeks to stop the Gambling the Litigation Department. Ithuba Solutions took the fight to oppose the Ithuba application. attorney. Authority from negotiating Armstrongs Attorneys will to Gambling Authority that But Tafa, through a company Tafa, together with his and subsequently awarding the be defending the Gambling instructed another respected called Idlehill (Propriety) counterparts at Armstrongs, will national lotto licence to Grow Authority against Ithuba corporate law firm, Armstrongs Limited, owns 10 percent in not only have to fight hard to Mine Africa. Ithuba’s grounds Solutions’ applications through Attorneys. Led by Managing Grow Mine Africa. For Tafa, and convince Justice Omphemetse are that in selecting the preferred Desai Law Group. At Armstrongs Partner John Carr-Hartley, by extension Collins Newman & Motumise to order a review of bidder, the Gambling Authority Attorneys, Ziga is a powerful Sipho Ziga is the lead partner Co, this is not just a legal battle Gambling Authority’s decision violated the Gambling Act, as commercial attorney as well. in the Commercial Department because he will be fighting to to select Grow Mine Africa well as the Public Procurement Further, Grow Mine Africa has while Moemedi Tafa leads protect his commercial interests as preferred bidders (main and Asset Disposal Act (PPADA) also taken a decision to oppose in the lotto tender. Collins application) because DLG filed and its regulations. Further, some

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Ref MDCB 5/1/35 I (3) 1. A suite of HR Services Consideration for registration will be based on submission of the following: 2. Legal services (including investment, M & A, commercials) 3. Provision of Board Assessment Tool and Board Assessment Services 1. Cover letter detailing the type of service/products the company is registering for 4 Travel agency services 2. Company profile with company address, contacts and bank details 5. Public Relations Services 3. Certified copy of Trading License where applicable 6. Postal and courier services 4. Business /Company Registration and Company Extract 7. Catering services 5. Certified copies of Practicing Certificate of Firm and Admission certificates of key 8. Office equipment maintenance personnel (where applicable) 9. Fire products services 6. Copy of Tax certificates 10. Financial Services 7. Certified copies of EDD certificates (where applicable) 11. Insurance Services 8. Declaration to establish Eligibility for Reservation and Price Preferences for 100% citizen 12. IT Support services Owned Contractors / Companies and other entities 9. The declaration must be signed by all Businesses tendering for reserved contracts and 13 Expert Technical Support contracts subject to preferences. Technical support requirements for Geology (resource, geotech, hydro), Mining (OP, UG, Design, Planning, Operations), Processing and minerals beneficiation (access to all areas), Requests shall be hand delivered or sent by courier by 31st October 2020 at 1000 hours at Project Management, SHE, and General engineering (focused support infrastructure). the following address

13.1.1 Investments Services which include: Minerals Development Company Botswana (Pty) Ltd a) Investment Analyst - Commodity related dealings and sourcing of funds with strong Exponential Building, 6th Floor market networks Plot 54351, CBD b) Mineral Economist - Support all areas of Investments: incl. R&D, Business Gaborone Development, Origination, Evaluation, Execution, Asset Management, and Facilitation c) Mineral Market Analyst – Investment modelling Submissions received after closing date and time will not be accepted. d) Techno Economic Analyst – Assessments on investment reviews and evaluations on mineral projects 1. Responding to this invitation does not guarantee an automatic registration with MDCB e) Research Analyst – Statistical analysis 2. All responses must be labelled the category applied for 13.2.1 Technical Services which include: a) Specialist Geologist - Mineral resources management (resource, geotech, hydro) 3. Suppliers and service providers that have been previously been engaged by MDCB are b) Mining Engineer - Mining resource extraction and mining (incl. design and planning also required to submit their expression of interest. Open-pit and underground) c) Process Engineer - Mineral processing and beneficiation (incl. design and planning) For more information you may contact Geoffrey Mahlaka at 3810329 d) Technical Project Manager - Project management (incl. owners team support) and or [email protected]. support to MDCD via provision of support services of technical writing, and ad-hoc project management. e) SHE Services - (Safety, Health, Environmental) THE BUSINESS WEEKLY & REVIEW News www.businessweekly.co.bw Friday 30 October 2020 - 05 November 2020 5

Kebonangs’ defence, Authority ignored its application DPP clash over to have the Gambling Authority’s decision reviewed. Consequently, Ithuba wants the Gambling further prosecution Authority stopped from taking any further actions involving • Kebonang brothers want sue for defamation as DPP draws fine negotiating the terms of a Licence Agreement and its distinctions and insists on further prosecution of the twins conclusion. Ithuba also wants the Gambling Authority to be Kabo Ramasia judges set aside all counts against have told The Business Weekly stopped from consulting with Staff Writer the two. “It would not be proper & Review that when the dust the Minister of Investment, for the Directorate of Public settles, the Kebonang brothers Trade and Industry for purposes he Kebonang twins, Prosecutions (DPP) to institute intend to sue government of issuing a licence under Section Sadique and Zein, criminal proceedings on charges for reputational damage and 62 of the Gambling Act. Tintend to sue the they couldn’t substantiate from malicious prosecution in the According to Ithuba, the state for defamation and the onset,” said Justice Phuthego. course of the highly publicised interdictory relief that it malicious prosecution, The After reading of the lengthy case. urgently arose only because of Business Weekly & Review ruling that took four hours to get Investigations by this the intractable attitude of the has established while the to the end of, the twins – who publication show that in a Gambling Authority. Through Directorate of Public were first charged in December defamation lawsuit, there DLG, Ithuba Solutions argues Prosecutions (DPP) wants 2018, walked out of Courtroom are four elements mainly Parks Tafa of Collins Newman & Co. that the tender process should to pursue the twins further 3 as free men flanked by criminal considered, namely position, be suspended because if it is inspite of a court order in the attorney of renown, senior extent of damage, age and level of the reasons include the fact not suspended, the Gambling Kebonang’s favour this week. counsel Unoda Mack of Bahuma of publication. that the Gambling Authority Authority and Grow Mine will On Tuesday, 27 October Attorneys, who smiled for the According to sources, the fundamentally departed from the continue to implement the 2020, a panel of three judges cameras in contentment. fact that the DPP instituted requirements on its own Request decision and entrench Grow of Gaborone High Court, Nevertheless, the prosecution legal proceedings against for Application (RFA) and the Mine’s position as the preferred Matlhogonolo Phuthego, is insisting that the review Zein and Sadique and the case ordinary process that would bidder to the extreme detriment Mokwadi Gabanagae and application that Sadique and Zein ended in their favour led to be expected in relation to the of Ithuba. Further, Ithuba Abednego Tafa, set the won is different from the rest of their reputational harm. This evaluation of the tender. believes immediate suspension Kebonang twins free. the case and has no bearing on it. Further, Ithuba Solutions Delivering the verdict, the Even so, those close to the matter to page 07 argues that the Gambling TO page 08

Celebrating Youth Excellence as Eleng Mugabe and Walter Mushi are Named Junior Partners

Eleng and Walter are passionate Desai Law Group (DLG) is young Batswana who continue to pave the way for innovative proud to appoint voices and professional excellence in the legal fraternity Eleng Mugabe and and are veritable examples of Walter Mushi as citizen youth talent rising. Junior Partners of the firm. Eleng has over 6 years of corporate commercial law experience and is a key member of DLG’s Corporate Department, specialising in mergers and acquisitions, equity capital markets and competition law. The passion and energy Eleng brings to the firm is balanced by Walter’s own discipline, ambition and sense of balance. His specialty lays in Mercantile Law, with a focus on Competition Law. This includes expertise in corporate / commercial, mergers and acquisitions insolvency and restructuring, regulatory, dispute resolution, financial markets, and ICT/ Telecommunications.

At DLG, we recognise our duty to nurture and empower young Batswana to redefine the standard of legal practice. We have a responsibility to provide a platform for growth of our clients, our sector and our communities and we embrace the opportunity to do so with burgeoning talent. A proudly 100% citizen equity-owned firm, we believe the calibre of attorneys in Botswana is very much on par with that of international markets and needs to be celebrated for its unique standard of excellence and depth of talent.

Eleng and Walter’s expertise complements the wide array of professional legal solutions and advisory services we offer at DLG, indeed at a level of excellence renowned even beyond Botswana’s borders. We understand that what our clients need is not simply a lawyer or a legal opinion, but strategic, informed and passionate legal partners to support them. This outlook is embodied in the DNA of all those at DLG and certainly demonstrated by Eleng and Walter.

We aim to leave behind a legacy that contributes to the development of our Nation as an international-level firm in the heart of Botswana and we commend Eleng and Walter on this momentous milestone and the new chapter ahead of them. THE BUSINESS WEEKLY & REVIEW 6 Friday 30 October 2020 - 05 November 2020 www.businessweekly.co.bw News

Masisi “India is major freezes public contributor to service recruit- Botswana’s FDI” ments An interview with the Indian High Commissioner enables the envoy to outline his • Ministries country’s partnership with Botswana that spans a spectrum of spheres, especially recurrent budget withdrawn diamond cutting and polishing, finance and ICT KABO RAMASIA Staff Writer

overnment has decided to freeze Grecruitment in the public service for the financial year 2020/21, The Business Weekly & Review has established. The announcement was made through a savingram from the Director of Public Service Management (DPSM) addressed to various departments following a Presidential Directive of September this year. The savingram dated the 23rd October 2020 states that “As addressees are aware, the country has been facing fiscal challenges which have been accentuated by the Staff Writer contributing anywhere between process.” for economic growth across emergence and spread of the 80 percent and 90 percent of India also has a notable socio-economic sectors. He said COVID-19 pandemic,” reads total value of its exports,” he presence in development of although the country is now he Indian community the savingram. pointed out. “As a key global Botswana’s financial sector and largely a mono-cultural economy “Cabinet, therefore has in Botswana contributes centre of the diamond polishing skills transfer. Two Indian banks, based on minerals, mainly considerably to Botswana’s been directed that the T and processing industry, India Bank of Baroda and State Bank of diamonds, Botswana’s current 2020/2021 provision for domestic and foreign direct has had more than US$ 1 billion India, have been in the country diversification strategies are investment (FDI) through several vacancies be withdrawn in annual bilateral trade with since 2001 and 2013 respectively. expected to bear fruit. from Ministries, investments in the country, the Botswana.” India’s High Commissioner said Prime Minister Shri Narendra High Commissioner of India to Departments and Agencies India’s top envoy in Botswana his country’s software industry Modi recently articulated his (MDAs) recurrent budget Botswana, Dr Rajesh Ranjan, has noted that companies from his is a leading solution provider for vision for greater engagement said. to cater for supplementary country have established diamond global commerce and industry with Africa and outlined 10 estimates.” Speaking in an interview with cutting and polishing ventures that registered an export revenue principles that Dr Ranjan said The Business Weekly & Review, All recruitments have in Botswana, investing millions value of US$130 billion in 2019 should take India-Botswana been withdrawn save for the Ranjan said Botswana provides of dollars and creating a trained and is thus poised to lead the relations to greater heights by ample business opportunities to Ministry of Basic Education local workforce. In this context, world in the next generation of enabling the two countries to tap and Ministry of Health and Indian investors. “A large number Dr Ranjan said the Indian city of ICT. into the immense potential that of the Indian diaspora has already Wellness. Surat and Gaborone complement DR Ranjan said India’s start-up this partnership offers. “Since funds for the invested in Botswana,” he noted. each other in the diamond ecosystem is blooming at a time “Indian companies are engaged in vacancies will only industry. Indian companies have when the virtual world is gaining India’s top envoy in be reinstated in the various sectors, including power always participated in one of precedence over real interactions, transmission, infrastructure next financial year Botswana premier trade shows, presenting a new opportunity for Botswana noted 2021/2022,Ministries, projects, Information Technology Global Expo, in large numbers India’s tech-savvy generation. (IT), education, steel, diamond that companies from Departments and Agencies where more than 50 Indian “Indian companies welcome are advised to discontinue trading and many others.” companies participated in the Botswana’s enterprises to become his country have Apart from being a major recruitment into such last two editions (2018 and 2019). partners in this progress, which established diamond vacancies until 1st April investor, India is a major trading “A large number of medical will not only assist in shifting partner for Botswana. “India cutting and polishing 2021.Those who are already tourism takes place between gears of the economy from its at an advanced stage of the was among the topmost export India and Botswana,” Dr Ranjan mineral dependency but develop ventures in Botswana, destinations of Botswana,” recruitment are process pointed out. “Indian healthcare a strong base for the next leap investing millions of are advised to withhold the High Commissioner said. professionals offer qualityinto a high-tech future,” he said. “Export of rough diamonds dollars and creating a appointments until further medical services in Botswana Dr Ranjan described Botswana notice.” has been the major commodity and skills are transferred in the as a country with great potential trained local workforce. in Botswana’s export basket,

is imperative to protect and on actions taken in pursuit of to conclude negotiations and “Despite repeated requests, preserve its rights and to ensure an illegal decision. With the signing a licence agreement on numerous occasions, the clash the continued integrity of main application now before and Grow Mine proceeding to Gambling Authority remains Botswana’s first national lotto court, Ithuba believes it is in implement the licence. intransigent,” Ithuba wrote of the licence. the interests of justice that In the application, Ithuba in the interdict application. According to Ithuba, it is also no other decision is taken to argues that it did everything “It is determined to roll out in the best interests of the public undermine, pre-empt or render to prevail upon the Gambling regardless, to the extreme titans to suspend any further steps hollow the outcome of the court Authority to suspend the present detriment of Ithuba and because it avoids wasting time in the main application by the tender so that the issues in this contrary to the national from page 04 and resources of the taxpayer Gambling Authority proceeding review may be ventilated properly. interests.” THE BUSINESS WEEKLY & REVIEW News www.businessweekly.co.bw Friday 30 October 2020 - 05 November 2020 7 Kebonangs’ defence, DPP clash over further prosecution from page 05 However, Mack’s issue is that appealed or set aside. The charges has since asked the DPP to us in compliance with the High publication understands that on Wednesaday this week his currently before the Extension 2 reconsider its decision on further Court Order of the 27 October Zein was appointed a High Court clients appeared on amended Magistrates Court are related and prosecution of his clients which 2020,” he told the DPP. judge in an acting capacity in charges of money laundering that connected to the original charges he says amounts to malice and is The ruling on the quashing of 2015 and assumed the permanent arise from the NPF matter. “These preferred against our clients and a violation of their constitutional charges laid against other accused position in 2017. charges were previously refused are based on exactly the same rights. “Accordingly, we demand persons has been reserved for 8 Sadique was appointed Minister by Magistrate Mathaka as you set of facts and allegations, in that you file with the Extension December. After switching from of Minerals, Green Technology rightly acknowledged in your particular, that they transacted 2 Magistrates Court a notice of one Magistrate to another, the and Energy in 2016 under the answering affidavit,” he wrote. on bank accounts in which they withdrawal of the charges against case is now before Extension Ian Khama administration. The “The decision of theare not signatories.” clients not later than Thursday 29 2 Chief Magistrate, Kamogelo former MP for Lobatse had Magistrates Court has not been Defence attorney Mack October 2020 and serve a copy to Mmesi. served as Assistant Minister of Trade and Industry before then. After successfully managing the campaign for then Vice President Mokgweetsi Masisi’s bid for the We know you better chairmanship of the Botswana Democratic Party in 2017, he was subsequently dropped from cabinet when Masisi assumed the presidency in April 2018. But the twins may not be BBS LIMITED INTERST RATES completely out of the woods yet because even after the High Court that set them free, the DPP SCHEDULE 01-11-20 is determined to continue their prosecution. At a status hearing of the main case that relates to Nominal interest rate Actual interest rates (%) Minimum opening Balance all the accused on Wednesday, the twins appeared alongside other Type of deposit account (Lowest -Highest) (Lowest-highest) (Lowest-Highest) co-accused, Bakang Seretse, Isaac Kgosi and Kenneth Kerekang among them. Current Nil Nil Nil

Call Nil Nil Nil The twins may not be Ordinary Savings 0.15% 0.15% P100 completely out of the P500 woods yet because Special Savings 0.15%- 0.50% 0.15%- 0.50% even after the High Letsibogo Savings 0.20% - 0.75% 0.20%- 0.75% P0 Court that set them Tlamelo Mortgage Savings 1.25.% 1.25% P250 free, the DPP is Lerako Savings 0.50%-2.25% 0.50%-2.25% P25000 determined to continue their prosecution. At a Paid up Deposit 1.10%% 1.10% P200 status hearing of the Subscription Deposit 1.75% 1.75% P200

main case that relates Fixed term Deposit 0.50%-3.60% 0.50-3.60% P1000 to all the accused on Wednesday 91-Day Fixed Deposit Available upon request Available upon request 6 months Fixed Deposit Available upon request Available upon request The DPP told the court that P1000-P200,000 the ruling of the High Court 12 months Fixed Deposit 0.50%-0.80% 0.50%-0.80% had no bearing on the case as it 24 months Fixed Deposit 0.56%-0.90% 0.56%-0.90% P1000-P200,000 is a different one from the review application that was before the Over 24 months 0.59%-1.05% 0.59-1.05% P1000-P200,000 High Court. Irked by the DPP’s conduct, counsel for the twins All fixed Deposits > P200,000 Available upon request Available upon request Unoda Mack, expressed his concerns to the court and took Prime lending rate 5.25% a further step when he wrote a letter to the Attorney General on 28 October 2020 bring attention to the decision of the High Court setting his clients free. In the letter, Mack also notes that when Basis Point (Pty) Ltd was awarded a tender in 2015, Sadique was not yet the Minister of Mineral Resources and Green Technology but was Assistant Minister of Ministry of Trade and Industry. The letter says the DPP did not dispute Mack’s assertion that his clients were neither shareholders “Working together nor directors or employees of companies allegedly involved in towards a common goal” the fleecing of the P250 million petroleum funds. THE BUSINESS WEEKLY & REVIEW 8 Friday 30 October 2020 - 05 November 2020 www.businessweekly.co.bw Tax & your Pocket

WRITE TO US AT from page 04 The Business Weekly & Review Tax Column P.O Box Post Net Kgale View 449 ADD, Gaborone www.businessweekly.com Bakang Seretse Commentaries, letters and columns present here are the views of demands his money the authors and not necessarily those of The Business Weekly & Review and property back Director of Public Prosecutions restraining order was not an (DPP) and the Office of the interlocutory application as Receiver which is constituted held by the Court of Appeal. HOW TO MINIMISE in terms of the Proceeds and For that reason, Seretse avers, Instruments of Crime Act the respondents are holding his (PICA). property illegally. INHERITANCE TAX Seretse holds that the He therefore wants restraining order has long “Property listed as 2nd FOR YOUR KIDS lapsed. “On the 13th December, respondent, namely a balance 2017, the 2nd respondent of P69 734 260 previously Jonathan Hore Managing Consultant Aupracon Tax Specialists (DPP) obtained a restraining standing to the credit of order from Radijeng J, in terms account 0002504001499, held of Proceeds and Instruments by Khulaco (Pty) Ltd, with hey say there are two this is shares in say a consultancy of Crime Act, (PICA),” he has Capital Bank Limited as at 30 certain things in life, death firm whose dominant assets are deposed. November, 2017,” he states. Tand taxes. Negative as it not immovable property. Upon Subsequent to the court Seretse further wants P10 881 may sound but it is the truth. transfer of such shares, the kids order, the DPP was to bring a 045 70 held at Capital Bank Most parents do not consider will pay inheritance tax. No forfeiture application within and now at the Office of the taxes when they acquire their transfer duty applies in such cases 28 days. In his papers, Seretse Receiver. He also seeks another property and yet it is a given that as there is no immovable property argues that the DPP did not P199 971 00 belonging to M&B their property will be inherited and CGT is not applicable on comply and that the court Properties held by Capital by their children. So, why is it inheritances, as stated above. therefore never gave any Bank and now the Office of that most parents, despite a lot Therefore, only inheritance tax direction on the matter. the Receiver. The businessman of them being learned, don’t even becomes payable on such shares. The DPP reportedly brought wants the state to return pay attention to inheritance taxes One way of minimising tax on the forfeiture application several other millions and which their kids may have to your kids is by making them after 31 days in January 2018. property that he maintains are wrestle with? I will analyse how shareholders in your company According to the accused, the being held unlawfully. parents can minimise inheritance whilst you are alive, especially at tax for their kids within the the time you start the business confines of the applicable Tax as the shares will almost be Acts. In this worthless. When you depart, they article, words only inherit a small portion of the importing shares you held. the masculine Avoid large stakes of cash shall be Kids also pay higher taxes when estate when property devolves deemed to they inherit large stakes of cash. due to an inheritance. include the However, this is not a big issue as Effective 1 March 2020, there feminine. they may simply take part of the is no more inheritance tax on Inheritance cash and settle the taxes. On the immovable property inherited tax brief other hand, investing the cash in by an heir, whether or not there Inheritance immovable property annihilates Full Chicken is a will. Transfer duty has never tax is payable inheritance taxes and is therefore + 3 Sharing Sides been payable on inheritance of by the one good tax planning. + 2L Soft Drink immovable property as there has inheriting Livestock always been an exemption to that property from Inherited livestock ordinarily 229,90 effect. Technically, no taxes apply a late person triggers inheritance tax at the on immovable property due to the and in most market value of the livestock. The 1 March 2020 tax amendments. cases, there only other exception under this Let me also state that inheritance will be no category is for livestock which 2020 tax is still payable on any property cash reserves would be part of a business of devolving to heirs if such property with which to the late person. On the ground, is not immovable property. This pay the tax. livestock is usually not part of a problems includes the devolution of shares, Technically, business and tax is payable on its livestock, money etc to heirs. except where inheritance. but flavour Therefore, a parent’s choices affect there is an Start planning now ain’t one how much tax his kids pay. So, with exemption, Investing more in immovable this background, below is how someone property and giving your kids parents can minimise inheritance who inherits shareholding in companies tax their kids eventually bear. property will which are not property-rich are Buy immovable property be taxed on some of the critical decisions If you have a passion for the market you may make now, to minimise immovable property, you need to value of such inheritance tax when you depart. Try our increase your investments into property, Well folks, I hope that was Chakalaka such assets as they will devolve with minimal insightful. As Yours Truly says Side to your kids literally free of taxes deductions. goodbye, remember to pay to when you depart. Like I stated Other taxes Caesar what belongs to him. If above, the transfer of immovable which are you want to join our Tax whatsapp property from an estate to an close to this group or know more about our 8 heir is free from inheritance tax, tax include Tax e-books, send me a text on the transfer duty and CGT. The same transfer duty number below. exemptions apply to the change payable when in the ownership of shares in Jonathan Hore is a Managing Visit immovable www.nandos.co.bw companies which are real-estate Tax Consultant at Aupracon property or download the rich. Tax Specialists and feedback Nando’s App devolves to a Non-immovable property on this article can be relayed donee. On the If you invest in any other assets to [email protected] other hand, other than immovable property or 71815836. BURS has or shares in a company owning ruled that no immovable-property, your kids Terms & conditions apply. Capital Gains Serving suggestion only. Tableware not included. will pay inheritance tax as there Ingredients and allergens list available on request. Tax (CGT) Valid in Botswana restaurants only. Price valid until is no exemption available on 09 November 2020 or while stocks last. arises in the such assets. A good example of hands of an THE BUSINESS WEEKLY & REVIEW

www.businessweekly.co.bw Friday 30 October 2020 - 05 November 2020 9 Companies & Markets

MARKET HIGHLIGHTS

MAJOR MARKET MOVERS (Thebe) 28/10/2020

Counter Share price Change (%)

Source: BSE

DOMESTIC EXCHANGE RATES 29/10/2020

Rate CNH/BWP 0.5872 EURO/BWP 0.0745 GBP /BWP 0.0673 USD /BWP 0.0876 ZAR/BWP 1.4298 YEN/BWP 9.4100 Source: BOB The strenuous terrain for banks • Policy rate may reach 3 percent at the end of 2020 - Fitch • There may be a mismatch in demand vs availability of credit for a period - banking experts • Banks expected to hoard cheap liquidity provided by the central bank • Banks may increase their purchase of government securities WORLD MARKETS As at 29/10/2020 • Banks carry volatile deposits which attract higher interest rates INDEX VALUE % CHANGE AMERICAS INDEXES

Dow Jones 28210.03 -0.35 Industrial Average S&P 500 3441.71 -0.04 NASDAQ 11484.70 -0.28

EUROPE, MIDDLE EAST & AFRICA INDEXES

EURO STOXX 50 3180.70 -1.46 Price EUR FTSE 100 Index 5776.50 -1.19 DAX 12557.64 -1.41

ASIA-PACIFIC INDEXES

Nikkei 23639.46 +0.31 Hong Kong Hang 24754.42 +0.75 Seng Index TOPIX 1637.60 +0.73 Source: Bloomberg

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P.O Box Post Net Kgale View 449 ADD, Gaborone

Kitso Dickson 2020 report, Fitch Solutions has revised “However, we believe there are few TEL: (+267) 3170 615 Staff Writer down its 2020 forecasts for both asset and systemic credit risks,” Fitch notes. client loan growth, with the latter now First National Bank of Botswana has FAX: (+267) 3170 618 ear-term outlook for the expected to remain flat year-on-year. emerged as the biggest bank on the country's banking sector has According to the report, the decline in Botswana market in terms of assets, Nsoured because of the impact of asset and loan growth will be compounded the COVID-19. In its quarter four (Q4) by shrinking profits across the sector. to page 13 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 10 Friday 30 October 2020 - 05 November 2020 Advertorial

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TAX CODE (must always be in capital letters) NAME OF THE TAX CIT Corporate Income Tax

CTT Capital transfer tax

IIT Individual Income Tax

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TRL Training Levy

VAT Value Added Tax

WHT104 WHT** Dividends – Residents

WHT105 WHT Interests – Residents

WHT106 WHT Interests – Non-Residents

WHT107 WHT Commercial Royalties

WHT108 WHT Contract Payments

WHT109 WHT Management and Consultancy Fees

WHT110 WHT Entertainment Fees

WHT117 WHT Mine Rehabilitation Fund surplus

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WHT119 WHT Rental

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WHT121 WHT Livestock

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Toll Free: 17649 | Email: [email protected] Botswana Banking & Financial Services Report | Q4 2020

THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Insurance12 Friday 30 October 2020 - 05 November 2020 Companies & Markets Insurance Snapshot Key View: We expectH Botswana'sow insurance sectHor to collardontinue growing over the coming years, albeit at a more modest rate than forecast previously in both the life and non-life markets following further downward revisions to our near-term forecasts in this update as a result ofand the fallout from the CoBvid-19otswana pandemic. We forecast that the dominant life insur Lance ifesector will continue to lead the expansion in gross premiums across both 2020 and 2021, with the smaller non-life market beginning to accelerate faster In Business than in the life market starting in 2022. There remains considerable potential for long-term growth in total industry premiums, WITH BRANDON HARTNEY, although, as with thedominate wider economy, the insurance sector will remain exposed insurers to fluctuations in diamond and other ommodityc KGORI CAPITAL COMPLIANCE MANAGER prices. An improvementHollard’s in the regulat acquisitionory framew ofork Regent should supporin 2017t stability ended but jostling could also between pose a challenge the two to whilethe smaller players in the market. Botswana Life’s file size of 300 000 policies seems set to ensure no challenge for supremacy for some time. Staff Writer KITSO DICKSON reports

Set To Grow At Similar Rates set to grow at similar rate Botswana - Insurance Premiums By Sector (2018-2029) Botswana - Insurance Premiums By Sector (2018-2029) 10 10

7.5

5 5

2.5

0 0 2018 2021f 2027f 2019e 2024f 2020f 2025f 2023f 2026f 2022f 2029f 2028f

Gross life premiums written, BWPbn (LHS) Gross life premiums written, BWP, % y-o-y (RHS) ood corporate which the board checks and Gross non-life premiums written, BWPbn (LHS) Gross non-life premiums written, BWP, % y-o-y (RHS) governance is hailed as approves. Gthe best practice that Q: Who in an organisation Source: Financial Regulatory Authority (NBFIRA), Fitch Solutions one can have in order to operate is responsible for upholding corporate e/f = Fitch Solutions estimate/forecast. Source: Financial Regulatory Authority (NBFIRA), Fitch Solutions effectively. It is a collection of mechanisms, processes governance and how do ollard International Fitch says leading non- which led the market in 2018 and relations used by various they achieve this? Holdings jumped a life insurers typically offer a Latest Trends And Developments by total premiums (USD44.2 parties within an organisation A: Ideally everyone in an position to top spot broad range of personal and H million).” to control and operate the organisation should be in the 2018 non-life insurance commercial lines to clients in In October 2018, Western entity. We tackle the topic with responsible so that you have • Preliminary estimatrankingses from as the measured insurance bythe grossNon-Bank Botswana. Financial InstitutionsPersonal lines Regulat includeory Authority (NBFIRA) suggest that total Insurance Botswana and Western Brandon Hartney, Compliance a top down and bottom up premiums written, a Q4 2020 travel, portable possessions, gross premiums climbed by around 7.4% to reach BWP5.9bn in 2019. This marks a slowdownLifefrom Insurance the 9.2% Botswanagrowth rec becameorded in Manager at asset management scrutiny. In practice, the report has revealed. household contents, residential 2018. In 2020, we forecast total gross premiums in the sector to increase by 2.4% to BWP6.0bn,the whichlatest r eprentrantsesents ato do thewnwar locald company, Kgori Capital. management is responsible for According to the report by property, motor (comprehensive), market. The Western brand - Q: How do you understand implementing good corporate revision for this yFitchear fr omSolutions, a forecast the of insurer5.2% to BWP6.1bnsaw motor in our (third last quar partyterly updatproperty,e. Looking beyond this year, we see average owned by South Africa-based corporate governance? governance practices. However, annual growth initsgr osspremiums premiums increase of 4.8% by acr nearlyoss our fivfiree-year and forecast theft), period motorto BWP7.4bn, (third which is down from a 5.0% average PSG Group - was set up in 2004 A: It is a framework of controls, Compliance is tasked with three-fold from USD15.5 million party property only) and legal forecast previously. and aims to increase product structures, practices, processes ensuring that good governance (P176 million) in 2017 to USD44.2 insurance. • We forecast premiums in the larger life market to grow by 2.6% to BWP4.5bn in 2020, which rvarietyepresents and a do flexibilitywnward revision in the and policies that an entity practices as dictated in the million (P503 million) a year later, According to the Non-Bank Botswana market. puts in place to determine the framework are upheld. from 5.9% growthreversing to BWP4.6bn two fconsecutiveorecast in our years last quarFinancialterly updat Institutione. Across the Regulatory remainder of our five-year forecast period, we Non-life market accounted for why, when, how and by who Q: Who is held accountable see life premiumsof incr declineeasing in bythe an same aver metricage annual seen rateAuthority of 4.9% to close(the 2024 atinsurance a level of BWP5.6bn (starting with 5.9% growth a 15 percent share of industry critical leadership functions if corporate governance previously. regulator), around one-fifth of to BWP4.8bn in 2021), which is down from a level of 5.4% growth to BWP5.7bn forecast in ourassets last updat in 2018e. (down from 19 and decisions can be carried is not achieved? Hollard and rival, Regent, had the population has access to basic • We forecast premiums in the smaller non-life market to grow by 1.8% in 2020 to BWP1.5bn, apercent revision a do yearwnwar earlier)ds from and our a 26 out. In short, the corporate A: The Compliance Manager been jostling for second place in medical insurance through the percent share of gross written governance framework tells us reports all corporate forecast growth theof 3.1% sub-sector in our last rankings updat e.for Acr a osslongour fivMedicale-year fAssistanceorecast period, Funds. we see non-life premiums increasing by an premiums (down from 25 percent how we lead an organisation. governance breaches to the average annual rtimeate of but 4.6% the to merger close 2024 of these at a twolevel of BWP1.8bn,Business whichlines include is an upwar goodsd r einvision in fr om2017), the avaccordingerage annual to gr oFitchwth THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data included in the report are solely Q: Why is it important for Board, who will then take the companies in 2017 has altered transit, workman compensation, derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with FitSolutions.ch Solutions C ountryIn the Risk &non-life Industry Resear sector,ch. an organisation to have required action. the landscape since. In June 2017, commercial liability, construction fitchsolutions.com net profit before tax for 201825 it and what is the worst Q: What attributes South Africa's Hollard announced all-risk, business interruption and rose to P111 million from P36mn that can happen to an or skills are required that it had completed acquisition material damages. Speciality lines recorded a year earlier. organisation that does for an organisation to of Regent Insurance Group, that are available from Botswana's This represented a year-on- not have it? achieve good corporate which included its operations in non-life insurers include year increase of 208 percent, A: Business leaders determine governance? Botswana. agricultural insurance, directors' thanks largely to a sharp increase an organisation’s culture. A: Good corporate governance According to Fitch research, and officers' indemnity, pension in other income which rose by Good corporate governance is dependent on characteristics the move made Hollard the leader trustee indemnity and aviation. 130 percent from a loss of P2.4 structures provide leaders like integrity, accountability, in the non-life sector and boosted Fitch says Botswana's less million in 2017 to P28.9 million with a foundation to ethical behavior and its position as a provider of life developed non-life segment is in 2018, NBFIRA data shows. As develop a culture of ethical transparency. To effectively insurance. much more fragmented than of the end of 2018, the non-life behaviour, transparency and develop this business culture Botswana Insurance Company its life counterpart. Foreign sub-sector's total assets increased accountability which builds you must be able to effectively (BIC) has long been the dominant multinationals have gained a marginally to P2.0 billion, up stakeholder trust. Building communicate and demonstrate force in Botswana's non-life stronger presence through local from P1.9 billion in 2017. trust is key to business the required culture. sector. Over recent years it has acquisitions in recent years. Fitch The market share of industry sustainability and brand. Q: What is King IV and acquired the non-life arm of projects moderate premium assets and gross written premiums Without it, a legitimate how important is it that Botswana Insurance Holdings, growth rates over the coming for the larger life insurance sector business can struggle to grow organisations align their a key insurer in the diamond years that will mean that the non- was at 85 percent and 74 percent and reach its full potential. In corporate governance industry. As of the end of 2018, life market will continue to be respectively, according to Fitch. many cases, such a business will structures to it? Fitch observed that BIC had outpaced by the life market. This compares with market shares not survive. A: King IV is the latest of surrendered its position at the “This is primarily due to the of 81 percent and 75 percent Q: How can an the King Code Standards top of the non-life rankings and country's high poverty rates,” respectively a year earlier in 2017. organisation achieve and provides guidelines for now sits in second spot with gross Fitch notes. “The small size of Life insurers also accounted for corporate governance? organisations that want to set premiums written of USD31.8 the non-life market means that 81 percent of total insurance A: The shareholders need to up an effective governance million (P361 million), up from it is unlikely to attract very liabilities in 2018, down from 84 select a Board with the right framework. USD27.7 million (P315 million) large-scale investment, although percent a year earlier. experience and principles Q: How is it different from in 2017 when it still ranked as the we may well see more market Net profit before tax for the life who will then ensure that a the King III? leading non-life insurance firm entries by foreign players over sector during 2018 was reported solid governance framework A: Generally speaking, King in Botswana, as measured by the the longer term, over and above by NBFIRA at P464 million, is developed by management same metric. Note that BIC also the successful purchase of Regent to page 14 acquired Legal Guard in 2019. Botswana Group by Hollard, to page 14 Botswana Banking & Financial Services Report | Q4 2020 Botswana Banking & Financial Services Report | Q4 2020 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Companies & Markets Friday 30 October 2020 - 05 November 2020 13 Forecast Tables ASSETS FORECASTS (BOTSWANA 2018-2023) Forecast Tables ASSETS FORECASTS (BOTSWANA 2018-2023) Indicator 2018 2019 2020f 2021f The2022f strenuous2023f terrain for banks Indicator 2018 2019 2020f 2021f 2022f 2023f Debswana Total assets, BWPmn 91,331 98,685 100,659 111,731 fro120,390m page 09 129,058 Total assets, BWPmn 91,331 98,685 100,659 111,731 120,390 129,058 production Total assets, USDmn 8,509 9,291 7,998 8,922 which10,241 totalled P30 billion10,914 as at June 2020. Absa Bank BotswanaTotal follows assets, USDmn in second 8,509 9,291 7,998 8,922 10,241 10,914 down 15 per- Total assets, % of GDP 48.2 50.2 50.3 52.0 52.2 51.9 spot in the rankingsT otalwith assets, assets % of totalling GDP 48.2 50.2 50.3 52.0 52.2 51.9 Total assets, % y-o-y 9.4 8.1 2.0 11.0 P18 billion7.8 as at June 7.22020, followed by cent in Q3 Total assets, % y-o-y 9.4 8.1 2.0 11.0 7.8 7.2 Standard Chartered with assets totalling Client loans, BWPmn 56,185 60,199 60,199 66,821 71,900 77,149 • Production down in P14.9 billion as at theClient end loans,of June BWPmn 2020. 56,185 60,199 60,199 66,821 71,900 77,149 Botswana and Namibia Also as at the end of December 2018, Client loans, USDmn 5,234 5,667 4,783 5,335 6,116 Client6,524 loans, USDmn 5,234 5,667 4,783 5,335 6,116 6,524 Stanbic had assets totalling P14.5 billion. but up in SA and Canada Client loans, % of GDP 29.6 30.6 30.1 31.1 Beyond 31.2this, the scaleClient 31.0of remainingloans, % of GDP banks 29.6 30.6 30.1 31.1 31.2 31.0 Staff Writer Client loans, % y-o-y 7.7 7.1 0.0 11.0 drops considerably.7.6 Client7.3 loans, % y-o-y 7.7 7.1 0.0 11.0 7.6 7.3 According to Fitch, total industry assets n quarter three, De Beers’ rough Client loans, USD per capita 2,322 2,460 2,034 2,225 are now2,505 forecast to Clientincrease2,626 loans, by USD 2 perpercent capita 2,322 2,460 2,034 2,225 2,505 2,626 FNBB CEO Steven Bogatsu ABSA CEO Mrs Pheko-Moshagane STANCHART CEO Calvin Masupe diamond production decreased to P100.6 billion in 2020, which represents Client loans, % of total assets 61.5 61.0 59.8 59.8 59.7 Client59.8 loans, % of total assets 61.5 61.0 59.8 59.8 59.7 59.8 by 4 percent to 7.2 million f = Fitch Solutions forecast. Source: Bank of Botswana, Fitch Solutions a downward f = Fitch Solutions forecast. Source: Bank of Botswana, Fitch Solutions I carats owing to planned reductions revision from ASSETS FORECASTS (BOTSWANA 2024-2029) ASSETS FORECASTS (BOTSWANA 2024-2029) in production to reflect the lower the forecast demand for rough diamonds due Indicator 2024f 2025f 2026f 2027f of 4.2 2028fpercent Indic2029fator 2024f 2025f 2026f 2027f 2028f 2029f to the COVID-19 pandemic, Anglo asset growth to Total assets, BWPmn 138,093 147,897 157,954 168,063 178,819 190,264 Total assets, BWPmn 138,093 147,897 157,954 168,063 178,819 190,264 American, the diamond miner’s a level of P102.8 Total assets, USDmn 11,487 12,178 12,886 13,524 13,997 14,499 mother company, has announced. Total assets, USDmn 11,487 12,178 12,886 13,524 billion13,997 in the 14,499 But rough diamond sales improved last update. Total assets, % of GDP 51.6 51.5 51.3 50.7 50.1 49.6 Total assets, % of GDP 51.6 51.5 51.3 50.7 50.1 49.6 ahead of the key Q4 holiday selling In 2021, Total assets, % y-o-y 7.0 7.1 6.8 6.4 6.4 6.4 season for diamond jewellery. Anglo Total assets, % y-o-y 7.0 7.1 6.8 6.4 Fitch 6.4sees 6.4 announced the value of rough asset growth Client loans, BWPmn 82,703 88,493 94,599 100,748 107,095 113,842 Client loans, BWPmn 82,703 88,493 94,599 100,748 107,095 113,842 diamond sales (Global Sightholder increasing Client loans, USDmn 6,879 7,286 7,717 8,107 8,383 8,675 Sales and Auctions) for De Beers’ Client loans, USDmn 6,879 7,286 7,717 8,107 by 11 8,383percent 8,675 eighth sales cycle of 2020, amounted to P111.7 Client loans, % of GDP 30.9 30.8 30.7 30.4 30.0 29.7 Client loans, % of GDP 30.9 30.8 30.7 30.4 30.0 29.7 to $467 million compared to $334 billion before Client loans, % y-o-y 7.2 7.0 6.9 6.5 6.3 6.3 million at the seventh sales cycle. Client loans, % y-o-y 7.2 7.0 6.9 6.5 continuing6.3 6.3 While sales are improving, Anglo to grow by Client loans, USD per capita 2,723 2,837 2,957 3,057 3,113 3,173 Client loans, USD per capita 2,723 2,837 2,957 3,057 3,113 3,173 says De Beers production guidance an average Client loans, % of total assets 59.9 59.8 59.9 59.9 59.9 59.8 is unchanged at 25-27 million Client loans, % of total assets 59.9 59.8 59.9 59.9 annual rate59.9 of 7 59.8 f = Fitch Solutions forecast. Source: Bank of Botswana, Fitch Solutions carats (100 percent basis), subject f = Fitch Solutions forecast. Source: Bank of Botswana, Fitch Solutions percent to reach Source: Banking & Financial Services Report Q4 2020 Fitch Solutions forecast // Bank of Botswana LIABILITIES FORECASTS (BOTSWANA 2018-2023) to continuous review based on LIABILITIES FORECASTS (BOTSWANA 2018-2023) P138 billion in Indicator 2018 2019 2020f 2021f 2022f 2023f disruptions related to Covid-19, 2024, which is Indicator 2018 2019 2020f 2021f 2022f 2023f as well as the timing and scale of slightly above the averageTotal liabilities annual and ratecapital, of BWPmn The growth of loans91,331 faltered98,685 after the 100,659 111,731 120,390 129,058 credit, at 63.7 percent of total bank credit recovery in demand. Total liabilities and capital, BWPmn 91,331 98,685 100,659 111,7316.8 percent120,390 last time129,058 out. 2009 financial crisis, though the fact is Total liabilities and capital, USDmn 8,509 9,291 7,998in December8,922 2019. BoB10,241 reduced the10,914 bank The conglomerate says COVID-19 Lending is expected to remain flat at that that crisis had a limited effect on Total liabilities and capital, USDmn 8,509 9,291 7,998 8,922 10,241 10,914 rate to 3.75 percent towards increasing related measures remain in place P60.1 billion in 2020,Total which liabilities is down and capital, from % of domesticGDP borrowers which48.2 prevented50.2 an 50.3 52.0 52.2 51.9 supply of credit by making it ‘supposedly’ to safeguard the workforce while Total liabilities and capital, % of GDP 48.2 50.2 50.3 52.0a previous52.2 forecast of51.9 an acceleration in outright decline in lending. Loan growth Total liabilities and capital, % y-o-y 9.4 8.1 affordable2.0 for11.0 borrowers. 7.8The expectation7.2 maintaining operational continuity. client loan growth of 3.1 percent in 2020 then decelerated sharply between 2012 Total liabilities and capital, % y-o-y 9.4 8.1 2.0 11.0 7.8 7.2 is that borrowers are more likely to take According to Anglo, Botswana’s to P62 billion. Client deposits, BWPmn and 2015 as Botswana’s69,041 economy75,541 slowed. 77,052 83,062 89,707 97,781 out credit spurring spending. For the last production decreased by 15 percent Client deposits, BWPmn 69,041 75,541 77,052 83,062 This89,707 now represents97,781 a sharp slowdown Overall, Fitch thinks that bank assets will Client deposits, USDmn 6,432 7,112 6,12210 years, rates6,632 have been7,631 going down8,269 in to 4.8 million carats due to the from an estimated growth of 7.1 percent to grow by just 2 percent, the slowest pace of Client deposits, USDmn 6,432 7,112 6,122 6,632 7,631 8,269 Botswana. However, efforts to stimulate planned treatment of lower grade P60.1 billion recordedClient in 2019. deposits, % of GDP expansion since 2009. 36.4 38.4 38.5 38.7 38.9 39.4 the economy have yielded little success. material at both Jwaneng and Orapa, Client deposits, % of GDP 36.4 38.4 38.5 38.7 Across 38.9its five-year 39.4forecast period, Fitch While the 2009 recession was almost Client deposits, % y-o-y 9.1 9.4 With2.0 low credit,7.8 some argue8.0 that banks still9.0 with production targeted at levels forecasts average annual growth of 6.6 entirely due to external factors, this year’s Client deposits, % y-o-y 9.1 9.4 2.0 7.8 8.0 Client9.0 deposits, USD per capita 2,853 3,087 2,603cannot afford2,766 to lend more3,126 in the current3,329 to meet lower demand. Namibia percent to see client loans reach a level of contraction is also due to disruptions circumstances of uncertainty. Ncube says production decreased by 43 percent Client deposits, USD per capita 2,853 3,087 2,603 2,766P82.7 billion3,126 by 2024,Client3,329 which deposits, is also % of down total liabilities within Botswana’s domestic75.6 economy,76.5 76.5 74.3 74.5 75.8 the assumed resultant increase in prices to 0.2 million carats as the marine marginally from thef = Fitlastch Solutionsupdate, forecast. starting Source: Bank including of Botswana, Fitlockdownch Solutions restrictions imposed Client deposits, % of total liabilities 75.6 76.5 76.5 74.3 74.5 75.8 will serve to push economic activity, fleet suspended production for part with 11 percent growth to P66.8 billion in to control the COVID-19 spread. With and incidentally, inflation up to where f = Fitch Solutions forecast. Source: Bank of Botswana, Fitch Solutions of Q3 to reflect lower demand and 2021. THIS COMMENTARY IS PUBLISHED BY FITCH SOLeconomicUTIONS COUNTR activityY RISK & INDUS curtailedTRY RESEARCH andby is NObothT a comment the on Fitchthey Ratings' should Credit Ratings. be. An y “Whethercomments or data includedthe intiming the report arise solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research. one vessel was in dock for planned Starting in 2021, Fitch says it sees asset COVID-19 crisis and the intervention THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data included in thefitchsolutions.c report are solely om 18 maintenance during the period. and client loan growth re-accelerating once measures put in place to deal with it, derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research. South African production more in line with the country's broader economic activity has slowed down and, fitchsolutions.com 18 increased to 1.2 million carats due to economic recovery, helping the market in some instances, ground to a halt, Allan While the 2009 an expected change in ore mix, with realise some of its strong, long-term upside Gray Managing Director (MD) Phatsimo recession was almost more ore sourced from higher grade potential. However, “we caution that Ncube has observed. She notes that this entirely due to external material from the last cut of the should the economic recession prove more has seen companies left with obligations open pit (rather than from low grade severe and protracted than we currently to service without the necessary inflows to factors, this year’s stockpiles) as the mine transitions expect, this could prolong headwinds to support this. contraction is also due to the underground. Production in the banking sector activity”, Fitch warns. The State of Emergency brought about Canada increased by 17 percent to Botswana is heavily-dependent on payment holidays and extension of state to disruptions within 0.9 million carats due to treatment diamond exports and high-end tourism, assistance to the private sector in payment Botswana’s domestic of higher grade material at Gahcho two sectors which weakened as a result of of salaries. This however, Ncube points economy, including Kué. falling demand among high-income people out, has still left some companies with a Anglo says demand for rough in the rich world owing to the impact of significant shortage of cash. “This shortage lockdown restrictions diamonds showed signs of COVID-19. Although De Beers’ eighth has resulted in a desire for credit which imposed to control the improvement in the quarter as sightholder cycle sale shows improvement has seen, in some cases, lenders experience COVID-19 spread. COVID-19 restrictions gradually in demand and a number of countries slight growth in year-on-year lending eased in cutting and polishing are now opening borders to tourists, during the COVID-19 period,” Ncube says. centres and consumer markets ahead predictions by several economists indicate But while the government lockdown appropriate and will lead to the desired of the key end of year holiday season. that Botswana’s economic growth will slow measures were loosened in May, Fitch outcomes is yet to be seen,” she says. Bruce Cleaver, CEO, De Beers by between 6 and 10 percent this year. expects that a combination of low-level Fitch expects ongoing monetary stimulus Group, said: “We continue to see a S&P Global Ratings recently revised its social distancing rules and elevated measures to have a limited impact on credit steady improvement in demand for outlook on Botswana to negative from concerns among consumers will still growth because banks will be reluctant rough diamonds in the eighth sales stable and affirmed 'BBB+/A-2' ratings depress business activity over the course of to lend to a struggling private sector. For cycle of the year, with cutters and for the country. The rating agency says this year. companies whose activities have not been polishers increasing their purchases the negative outlook reflects its view of According to Fitch, weak consumer hampered significantly by COVID-19, as retail orders come through anticipated higher pressures on Botswana's spending and corporate profits will Ncube says raising credit should not ahead of the key holiday season. It’s economic, external and fiscal performance dampen investment and thus credit pose a significantly high risk for lenders. encouraging to see these demand over the next two years, stemming from uptake in sectors like trade, real estate However, for those in high risk areas, the trends, but these are still early days the impact of the global pandemic, notably and business services (which account for companies and their employees may prove and there is a long way to go before on diamond exports. 19.8 percent of total credit). According to to be too risky for lenders to advance credit we can be sure of a sustained recovery Fitch Solutions expects slower economic the Bank of Botswana (BoB), household in trading conditions.” growth to result in slower credit growth. credit accounted for a larger proportion of TO page 16 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 14 Friday 30 October 2020 - 05 November 2020 Companies & Markets Local bonds from page 12 In Business WITH exhibit over 10 BRANDON HARTNEY III had 75 principles and King IV to the governance framework, percent compound has only 17 and is therefore easier Internal Audit generally monitors to understand. King IV requires and reports on the effectiveness you to apply and explain which of the governance framework and annual growth principles you implemented compliance. whereas King III required you to Q: Ethical behaviour has The Bank of Botswana’s accommodative monetary policy stance of apply or explain. Therefore, King been identified as the key to IV attempts to do away with box- good corporate governance the past decade, which is supported by increased market infrastructure ticking and encourages Board and also that sustainable developments and deepening of debt market literacy at the Botswana accountability. There are also organisational culture is based on strong cultural Stock Exchange, has positively impacted primary market activity in the differences in some areas of focus. Q: What is the importance values and practices. How debt capital market. Staff Writer KITSO DICKSON reports of an organisation having are all these important a compliance and internal in creating corporate audit functions in place governance? Bond Market Performance 2010-2020 to implement a corporate A: They are extremely important Year Market Capitalisation (P'Bn) Turnover (P'Mn) No of Bonds Listed governance framework? as developing the right culture in 2010 6.7 757.1 36 A: Compliance is responsible an organisation is the foundation to good corporate governance. 2011 8.4 325.1 35 for setting up the governance framework as well as monitoring Q: How can an organisation 2012 8.5 332.2 35 and reporting on adherence develop the best ethical 2013 9.3 94.6 35 to the framework. Internal culture? 2014 10.1 323.5 37 Audit provides an independent, A: Ethical culture starts with the 2015 10.1 858.0 38 additional line of defence by leadership, and this is the most reviewing the governance important factor. You need to 2016 12.2 483.8 41 framework, its effectiveness, the have the right leaders in place 2017 14.3 535.6 43 effectiveness of the monitoring who ensure that they are the main 2018 15.0 2,222.7 49 and reporting process, which they drivers within their departments in developing the culture. You 2019 17.3 2,175.4 46 Note: Year-to-23 then report to the Board. also need a robust, clearly defined 2020 19.4 2,194.2 47 October 2020 Q: How do the two Source: BSE (compliance and internal framework in place and to ensure audit function) work in that you have processes in place Kitso Dickson was also listed by Investec. debt capital market. monitoring and reporting that reward adherence to the framework and punish non- Staff Writer Moribame says these debut It is true that bonds have an on the effectiveness of the issuances demonstrated increased inverse relationship to interest framework? adherence. Finally hiring the right confidence in the Botswana debt rates, such that when the cost of A: Where compliance monitors people who align to the culture is he domestic debt capital market by international issuers borrowing money falls, demand and reports on the adherence also important. market has delivered and international investors. goes up and bond prices usually Tstrong performance in Overall, the number of bonds rise, and the reverse is true. Due both primary and secondary listed have steadily increased to the structure of market and the from page 16 market activity over the last over the decade. There were 36 abundance of capital, Moribame decade. According to information bonds listed in 2010 relative to 47 says asset managers tend to adopt How Hollard gathered by this publication, the currently in 2020. a buy-and-hold strategy. “The BSE value of bonds traded amounted has done various initiatives to and Botswana Life to P757.1 million in 2010 relative in 2018, the first- promote liquidity in the market,” dominate insurers to P2.2 billion so far in 2020. she explains. “The initiatives This represents a compound ever supranational include regulatory, technological, representing a decrease of consecutive year of growth in 34 percent y-o-y from P703 life premiums for the market annual growth rate of more than bond was listed by product development, as well 10 percent. Compound annual as outreach activities. We are million in 2017. This decrease leader. growth rate (CAG) is the rate of the International confident that such initiatives can largely be attributed to an Among the other players, return that would be required for Finance Corporation will go a long way in developing increase in net incurred claims Metropolitan saw its gross an investment to grow from its that jumped by 13 percent premiums rise sharply in 2018 (IFC) while the first- the market.” beginning balance to its ending Fitch Solutions expects the and net acquisition costs that to a level of USD61.5 million balance. In simple terms, it is just ever foreign currency BSE to expand and develop over increased by 19 percent, Fitch (P699.8 billion), up from says. During the year ended USD53.5 million (P608.8 a rate of return, over a certain denominated bond, the forecast period, supported period. by efforts to deepen the capital December 31 2018, total assets million) in 2017, consolidating Thus far in 2020, trading which is US Dollar- market with further domestic held by the life insurance its second-placed position activity in government bonds denominated, and foreign listings. “However, industry were up by 5 percent in the sub-sector. Fitch amounted to P2 billion while to P16.2 billion. says brand recognition and was also listed by attracting new equity listings corporate bond trading activity will remain a challenge, given Botswana's larger life support from the wider group currently stands at P206 million. Investec. tighter requirements and a lack insurance segment is easily will ensure that Metropolitan The total debt market of scale and liquidity,” says Fitch. the more developed and retains a significant presence. capitalisation has more than According to Moribame, “To support this process, the accounts for around three- “We expect that Botswana tripled over the decade, rising ideally when interest rates stock exchange was granted Self- quarters of total premiums. Life, which manages a file from P6.7 billion in 2010 to decline considerably, issuers Regulatory Organisation (SRO) It is highly concentrated, size of 300,000 policies and P19.4 billion in 2020. Thapelo with long-term funding needs status in Q120 that should help with Botswana Life with annual recurring premiums Moribame, Botswana Stock will access the bond market to with the development of new total premiums of USD235.0 of P1 billion, will remain the Exchange’s (BSE) Head of Product raise long-term capital through products and initiatives.” million in 2018. Botswana dominant player through Development, says this increase issuances. “This, coupled with According to Fitch, the BSE's Life maintains its dominance to the end of the forecast in the size of the bond market is increased awareness, has resulted total equity market capitalisation but has seen a decline in life period, and likely beyond,” attributable to new government in increased issuances as issuers has grown from P254 million premiums in recent years, says Fitch, adding that while and corporate bond listings over are taking advantage of the in 1989 to P393.4 billion by the with its share of the market in many respects Botswana the decade. “Notably, there has cheaper ways of raising debt end of the first half of 2020 declining from over 85 has an attractive investment been growth in the diversity capital,” she says, adding that the (H120), although much of this is percent of premiums in 2010 environment with a healthy of debt instruments and their accommodative monetary policy concentrated in foreign equity to 66 percent in 2016. In 2018, regulatory system, the structures,” Moribame notes. stance adopted by the Bank of listings (P356.4 billion) with however, it saw life premiums market is not yet of the size For example, in 2018, the Botswana over the past decade, limited local trading (P37 billion). rise once more to USD235.0 where it is likely to attract first-ever supranational bond supported by increased market The BSE's domestic listings million (P2.7 billion) from more major multinationals. was listed by the International infrastructure developments and include 23 listed companies and USD227.3 million (P2,58 “Leading South African firms Finance Corporation (IFC) the deepening of debt market one venture capital company. billion) recorded in 2017. are, therefore, most likely to while the first-ever foreign literacy at the Botswana Stock There are 10 foreign listings, While below previous highs, remain the key foreign players currency denominated bond, Exchange, has positively impacted including five venture capital this represented the second in the market.” which is US Dollar-denominated, primary market activity in the companies. THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Companies & Markets Friday 30 October 2020 - 05 November 2020 15

GABORONE 20 October 2020. Universal Access and Service Fund (UASF), Ministry of Transport and Communication (MTC) , ministry of Basic Education (MoBE) and ministry of Local Government and Rural Development (MLGRD) sign memorandum of Agreement on schools computerisation and internet connectivity for the Kweneng region. Martin Mokgware of UASF, Alicia Mokone of MTC, Bridget John of MoBE and Mpho Morapedi of MLGRD signs the agreement on behalf of the respective organisations. (L-R) Mokgware , Mokone, John and Morapedi (R) . (Pic: Monirul Bhuiyan/Press Photo)

Innolead Closes Successful conference

· Symposium explored Botswana as a land-linked gateway into Africa

Staff Writer

nternational consultancy firm, Innolead Consulting, yesterday I(Thursday) concluded a three- day virtual conference on strategy, project management and performance management that was organised by The Canada-Africa Chamber of Business and sponsored by Lucara Diamonds. Speaking at the conference, the Assistant Minister of Agriculture Development and

Food Security, Beauty Manake, said even with the threat of COVID-19 “there still remains an opportunity to better our own food production tactics”.

Manake noted that even though Botswana is doing well in beef, poultry and vegetable production, there is a need for facilities and strategies to help farmers produce better. The President of The Canada-Africa Chamber of Business, Garreth Bloor, said for more than a decade, much discussion has centred on Africa’s potential, sometimes at risk of eclipsing phenomenal successes already achieved. Bloor added that the successes include companies and communities who have weathered the last six months (of COVID-19) with resilience against odds. Also speaking at the symposium, the

Managing Director (MD) of Lucara, Naseem Lahri, described the conference as a pathway to integration of markets and driving investors into the respective countries at the symposium.

The conference included links to support for exporting to Canada, setting up company offices in Canada and incentives and business development opportunities for Canadians keen to access African markets. It also explored Botswana as a “land-linked gateway” to African markets.

The headline sponsor of the conference was Lucara Botswana and Lucara Diamonds, which is a Canadian mining company. The virtual proceedings were free for all three days, including access to the Virtual Exhibit Hall. Meanwhile, the Innovation Manager of Innolead Consulting, Thabiso Ntlole, says the company executed this event successfully because of its stature and ability to manage big projects. The company’s head office is in Gaborone but it has subsidiaries in Zambia, Uganda and Rwanda. THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw 16 Friday 30 October 2020 - 05 November 2020 Companies & Markets

from page 09 SIX WAYS The strenuous TO IMPROVE terrain for banks to, Ncube observes, saying there However, StanChart’s profits may therefore be a mismatch improved. CUSTOMER in the demand vs availability of Fitch cautions that weaker credit for a period. loan issuance and historic low LOYALTY BoB has historically increased lending rates which dampen and reduced rates, depending banking sector profits will BAKANG KAUNDA CA Sales and Distribution. on whether actions are motivate banks to increase expansionary or contractionary. their purchase of government Availability and affordability securities at a time when To achieve of credit would therefore public borrowing needs are fluctuate accordingly. Currently rising. “Indeed, we forecast loyalty from your rates have been cut across Botswana’s budget deficit to customers, you successive periods in response widen from an estimated 4.1 to the impact of COVID-19 on percent of GDP in 2019 to 4.6 need to be loyal to the economy. Whether or not percent in 2020 due to revenue the effect of these rate cuts will shortfalls and rising spending your customers first be significantly different from pressures,” Fitch notes, adding those in the past is yet to be that this will fail to boost banks’ seen. assets, given that treasury bills Ncube argues that providers and debt securities (including of credit are now generally corporate debt) account for understandably wary of only 4.7 percent of total assets, usinesses from across communicate to your customers However, what I am against is providing credit without due compared to 60.7 percent for various markets and that they really matter. This takes the idea of businesses thinking consideration. She says areas loans and advances. Bindustries complain us back to the first point about that they can automate 100 which have been hardest hit - Botswana’s banks entered about how tough it is in rewarding your customers by percent because doing so like the tourism and hospitality the 2020 better capitalised the market today, especially creating programmes that show could have a negative impact sector, for instance - are likely and more secure than most with the Covid-19 pandemic. that you appreciate them and the on the business. Businesses to experience a credit pinch of their regional peers. The Moreover, there are so many business they give you. need to maintain the human as lenders reduce or eliminate sector’s risk-weighted capital existing competitors while BE RELIABLE element in customer service. lending to entities and ratio stood at 18.85 percent new ones keep mushrooming, Reliability! Reliability! Of course, you can automate employees in the sector. “This in Q2, higher than in most of making it tough to retain Reliabiity! This can never be some operational and may continue until the effects of sub-Saharan Africa’s largest customer loyalty because over-emphasised. You build your administrative aspects of the the crisis are better understood economies. Meanwhile, the customers are now spoilt for brand and reputation from your business and even aspects of and are deemed to have passed,” ratio of non-performing loans choice. This puts businesses delivery. The sad reality is that sales, but total automation she notes. “Although demand (NPLs) stood at just 4.6 percent under much pressure and many businesses in Botswana is not the way to go. Face-to- for credit is likely to persist in April 2020, broadly in line forces them to operate fail dismally when it comes to face is still the winning recipe in the short to medium-term, with the 2020 average of 4.8 in a manner that entails reliability because they fail to when customers come with chances of exponential growth percent. Again, this compares countering their competitor’s deliver work and services that a complaint and a human are quite low as lenders are also favourably with most other actions. But doing this is above par while some do not interaction occurs, especially going to have to manage their African economies. can affect a business’s core deliver at all. This consequently when it is met with contrition, risk exposure as they conduct Because S&P considers 2020 principles and vision. The angers customers and can chase sympathy and an eagerness to lending operations.” economic underperformance billion pula question is, how them away for good. The quicker help. That creates a paradigm BoB has three main tools that as a one-off event, the rating can businesses improve their businesses can realise how shift in a customer’s mind, as it can deploy in order to kick- agency projects an economic customer loyalty? important this is to customers well as emotional fulfilment. start the economy. The first is to rebound of 6 percent in 2021. REWARD YOUR and how it can actually be the The customer will go away lower short-term interest rates Fitch sees credit growth CUSTOMERS single winning factor in having happy and is guaranteed as it has done. The second is to rebounding in 2021 as the It is important to remember loyal customers, the sooner they to come back for another lower reserve requirements as economy recovers. “Our core that customers are human will act on it. purchase. it did in April while the third forecast is that the economy beings, and one of the core KNOW YOUR REGULAR MORE INTERACTION, would be to relax regulatory will expand by 2.5 percent characteristics that make us CUSTOMERS AND INVEST LESS TRANSACTION requirements regarding loan next year as social distancing distinguishable for who we MORE IN THEM Now this will get some losses. According to S&P, BOB measures are relaxed, global are as a species is that we Although all customers are people heated up because injected P1.6 billion (about demand picks up, and tourist are emotional. Most of our equal and important, the reality they will start chanting things US$140 million) into the arrivals begin to recover,” decisions are influenced by is that there are those customers like business is transactional banking sector by reducing Fitch says. “We expect that how we feel. Businesses need who are always there through and not personal and if they reserve requirements. All these banking sector assets will to realise that giving discounts your highs and lows. It is very wanted to do more interacting actions serve to increase the grow by 11 percent in 2021. is not enough and that they important for businesses to they would have been running amount of money available in Growth will, however, slow ought to go an extra mile to recognise such customers and NGOs. For starters, that is the economy, thereby increasing over the following years. The ensure that customers know then go out of their way to just a rotten mentality that consumption and raising base effects caused by this that they are appreciated. This ensure that they receive the royal many have adopted from economic activity, Ncube says. year’s fall will fade. And with can be as simple as sending treatment that they deserve. This consumption of too many Fitch expects BoB to lower banking penetration already personalised cards to your could ensure that they do not go Hollywood movies. A basic the policy rate to 3.00 percent high in Botswana, there is little customers if you are in B2B to another vendor or competitor business principle is that by the end of 2020. Commercial potential for sustained rapid and for B2C, creating a loyalty and won’t even think of it! Many relationships build businesses banks in developed markets have growth.” programme that actually businesses avoid using terms and people transact with reportedly been hoarding cheap Fitch estimates that banking rewards your customers like priority customers and key the people they can trust liquidity provided by their sector assets will grow by an properly. accounts to avoid coming across for up to 99.9% of the time. central banks. Fitch expects average of 7.3 percent y-o-y LOYALTY as discriminating. However, Relationship building is very a similar trend in Botswana between 2021 and 2029, ATTRACTS LOYALTY the truth is that every business important, hence business over the coming quarters as compared to 8.4 percent These days customers are has priority customers who representatives and leaders banks’ appetite to lend to the between 2010 and 2019. “The educated and smart. They contribute more than others should frequently interact private sector decreases. The banking sector will retain are far much more informed to total revenue. They deserve with their customers and banking sector’s profitability its relatively solid, deposit- than customers were 20 years priority treatment. show an interest in their lives will also suffer. In the first half heavy funding structure, with ago. They know when you are MAINTAIN THE beyond business. This makes of 2020, Absa Bank reported customer deposits constituting making a fool of them and HUMAN ELEMENT customers feel appreciated a 70 percent plunge in profit the majority of bank’ total taking advantage of them. I would never discourage and that those with whom after tax due to expected credit liabilities (76.8 percent in But to achieve loyalty from adoption and implementation they do business care about losses of P178.4 million. FNBB April 2020). However, these your customers, you need to of technology because it is vital more than just their money. profit fell by 5 percent due to deposits mostly comprise be loyal to them first. Many to improving efficiency and Businesses actually need to pressure on top line revenue business deposits, which tend may ask how? The truth is effectiveness and adds immensely create special customer events and the required provisioning to be more volatile and attract that your actions need to to the revenue of a business while to appreciate them and get to due to the increase in credit risk higher interest rates than show consistency as you keeping costs at a minimum. know them. brought about by COVID-19. household deposits.” THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Companies & Markets Friday 30 October 2020 - 05 November 2020 17

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD ATLOBATSE. HELD AT LOBATSE. CASE NO. CVHGB-001714-17 CASE NO. CVHGB-000504-14 In the matter between: In the matter between:

STANBIC BANK BOTSWANA LIMITED PLAINTIFF STANDARD CHARTERED BANK BOTSWANA LIMITED PLAINTIFF and and ONALENNA MPHO GIDDIE DEFENDANT L & B (PTY) LIMITED 1 ST DEFENDANT LESEDI TSHWANG 2 ND DEFENDANT NOTICE OF SALE IN EXECUTION IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANABOIKANYO TSHWANG IN THE HIGH COURT OF 3 RD THE DEFENDANT REPUBLIC OF BOTSWANA HELD AT GABORONE Case No. CVHGB - 000066-15 HELD AT GABORONE Case No. CVHGB - 000066-15 BE PLEASED TO TAKE NOTICE that pursuant to the judgment of the above Honourable Court, the immovable property of the above NOTICE OF SALE IN EXECUTION named 3 rd Defendant shall be publicly sold in execution by the Deputy Sheriff as follows:In the matter between: In the matter between: STANBIC BANK BOTSWANA LIMITED BE PLEASED TO TAKE PLAINTIFF NOTICE that pursuant to the judgment of the aboveSTANBIC Honourable BANK BOTSWANA Court, the LIMITED immovable PLAINTIFF And And DATE OF SALE : 20th November 2020 property of the above named 3rd Defendant shall be publicly sold in execution by the Deputy Sheriff as follows: RABOKAUNA TOKO DEFENDANT RABOKAUNA TOKO DEFENDANT PLACE : Tribal Lot 2509, Tlokweng TIME : 10:30 a.m th NOTICE OF SALE IN EXECUTIONDATE OF SALE : 24 November 2020 NOTICE OF SALE IN EXECUTION PLACE : Lot 1112, Mmadinare : Certain piece of land being Tribal Lot 2509, Tlokweng situate at Tlokweng in the Batlokwa Tribal Territory, PROPERTY TO BE SOLD BE PLEASED TO TAKE NOTICE that pursuant to the TIMEjudgment of the above Honourable: 10:00 Court, the BE PLEASED TO TAKE NOTICE that pursuant to the judgment of the above Honourable Court, the 2 measuring 928m (Nine Hundred and Twenty Eight Square Metres) which is held undermovable Notarial property Deed of of the Cession above No,named MA Defendant122/13 shall be publicly sold in execution by the Deputy Sheriff movable property of the above named Defendant shall be publicly sold in execution by the Deputy Sheriff th dated 10 day of February 2013 made in favour of ONALENNA MPHO GIDDIE togetheras follows: with the developments thereon being a PROPERTY TO BE SOLD: Certain piece of land being Tribal Lot 1112 asMmadinare, follows: situate in the Bamangwato 4 bed roomed house, comprising of sitting room, kitchen, dinning bathroom with toilet, attached double garage and screen wall. Tribal Territory, measuring 1648m2 (One Thousand Six Hundred and Forty Eight Square Metres) which is held DATE OF SALE: 21st October 2016 under Memorandum of Agreement of Lease No. FT TL 375/2008 dated 30DATEth day OF of SALE: October 2008 made21st October in favour 2016 CONDITIONS OF SALE: Details and conditions of sale may be inspected at the Plaintiff’sVENUE: Attorneys offices. Broadhurst Police Station of Boikanyo Tshwang together with the developments thereon being a singleVENUE: story shop Broadhurst Police Station TIME: 10:30 am TIME: 10:30 am TERMS OF SALE: Cash or bank guaranteed cheques. CONDITIONS OF SALE: Details and conditions of sale may be inspected at the Plaintiff’s Attorneys offices. PROPERTY TO BE SOLD: 1 x Mazda, with registration number B 928 AID, BLUE in colour PROPERTY TO BE SOLD: 1 x Mazda, with registration number B 928 AID, BLUE in colour DATED AT GABORONE THIS 20th DAY OF OCTOBER 2020. TERMS OF SALE: Cash or bank guaranteed cheques. TERMS OF SALE: Cash or bank guaranteed cheques. TERMS OF SALE: Cash or bank guaranteed cheques. DEPUTY SHERIFF URGENT CHILISA DATED AT GABORONE THIS 20th DAY OF OCTOBER 2020. DATED AT GABORONE THIS 12TH OCTOBER 2016. DATED AT GABORONE THIS 12TH OCTOBER 2016. C/O BOGOPA, MANEWE, TOBEDZA & CO Plaintiff’s Attorneys DEPUTYDEPUTY SHERIFF SHERIFF URGENT JAY IKAGENG CHILISA SELOI: Cell: 71472478 DEPUTY SHERIFF URGENT JAY CHILISA Plot 54368 New CBD C/O BOGOPA,C/O BOGOPA, MANEWE, MANEWE, TOBEDZA &TOBEDZA CO & CO C/O BOGOPA, MANEWE, TOBEDZA & CO Unit 16 CD, 16th Floor Plaintiff’sPlaintiff’s Attorneys Attorneys Plaintiff’s Attorneys iTowers North Plot 510,Plot Off 54368Southring New Mall CBD Plot 510, Off Southring Mall P. O. Box 26465 Cnr of MahereroUnit 16 CD,Lane 16th & Montshioa Floor Way Cnr of Maherero Lane & Montshioa Way GABORONE ExtensioniTowers 4, Gaborone North Extension 4, Gaborone Tel: 3905466 Fax: 3905451 P. O. BoxGABORONE 26465, P. O. Box 26465, Cell: 71594008/72821439 (Deputy Sheriff) GABORONETel: 3905466 Fax: 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 HELD AT GABORONE. CASE NO. CVHGB-000528-16 In the matter between:

STANBIC BANK BOTSWANA LIMITED PLAINTIFF and CHRISTIAAN RUDOLF DE WET 1ST DEFENDANT RACHEL GETRUIDA DE WET 2ND DEFENDANT DWBW TRUST IN THE HIGH COURT OF THE 3RD REPUBLICDEFENDANT OF BOTSWANA HELD AT GABORONE Case No. CVHGB - 000066-15 NOTICE OF SALE IN EXECUTION In the matter between: BE PLEASED TO TAKE NOTICE that pursuant to the Judgment of the above HonourableSTANBIC Court, BANKthe immovable BOTSWANA property LIMITED of the above PLAINTIFF named 3rd Defendant shall be publicly sold in execution by the Deputy Sheriff as follows:And RABOKAUNA TOKO DEFENDANT DATE OF SALE : 19th November 2020 NOTICE OF SALE IN EXECUTION PLACEIN THE HIGH COURT: Plot 69432, OF Gaborone THE North REPUBLIC OF BOTSWANA TIME : 10:30 a.m CVHGB – 002044-14 TO ADVERTISE call HELD AT LOBATSE BE PLEASED TO TAKE NOTICE that pursuant to the judgment of the above Honourable Court, the movable property of the above named Defendant shall be publicly sold in execution by the Deputy Sheriff : Certain piece of land being Plot 69432 Gaborone, a Portion of Lot 31336 Gaborone (Formerly Portion 36, a PROPERTY TO BE SOLD as follows: portion of Portion 4 of the Farm Content NO. 1-KO), situate in the South East Administrative District, measuring 930m² (Nine Hundred LEBOTSE Ag. J. now Tel: 3170 615 th and Thirty square meters) which is held under Deed of Transfer No. 1326/2011 dated DATE29 day OF of SALE:July 2011 made in favour21st October of DWBW 2016 TRUSTIn the together matter with the developments between: thereon being Four (4) 1 x master bedroom, VENUE:3 bedrooms with en-suite, dinningBroadhurst room, sitting Police Station room, kitchen, swimming pool, screen wall with electric fence. TIME: 10:30 am FIRST NATIONAL BANK OF BOTSWANA LIMITED Plaintiff CONDITIONS OF SALE: Details and conditions of sale may be inspected at the Plaintiff’sPROPERTY Attorneys TOoffices. BE SOLD: 1 x Mazda, with registration number B 928 AID, BLUE in colour

TERMS OF SALE: Cash or bank guaranteed cheques. TERMSand OF SALE: Cash or bank guaranteed cheques. IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CVHGB –002128-13 TH DATED AT GABORONE THIS 20th DAY OF OCTOBER 2020. DATED AT GABORONE THIS 12 OCTOBER 2016. HELD AT LOBATSE

TOURS OF AFRICA (PTY) LIMITED First DefendantDEPUTY SHERIFF URGENT JAY CHILISA MOROKA J. DEPUTY SHERIFF URGENT CHILISA: ( Cell: 71594008/72821439) C/O BOGOPA, MANEWE, TOBEDZA & CO C/O BOGOPA, MANEWE, TOBEDZA & CO In the matter between: Plaintiff’s Attorneys Plaintiff’s Attorneys AGAIN PACHAWO SecondPlot 510,Defendant Off Southring Mall Plot 54368 New CBD Cnr of MahereroAFRICAN Lane & BANKING Montshioa Way CORPORATION OF BOTSWANA LIMITED Plaintiff Unit 16 CD, 16th Floor Extension 4, Gaborone iTowers North P. O. Box 26465, GABORONE NOTICE OF SALE IN EXECUTION GABORONEand Tel: 3905466 Fax: 3905451 3905466, 3905451; Tel: Fax: Cell: 71594008/72821439JIMMY HASKINS (Deputy Sheriff) KERENG Defendant

BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CVHGB – 002044-14 IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CVHGB –002128-13 HonourableHELD AT GABORONE Court, the following immovable property willLEBOTSE be sold Ag. by J. public auctionHELD AT by LOBATSE NOTICE OF SALE IN EXECUTION MOROKA J. DEPUTY SHERIFF MOLEBI GALEITSIWE to the highest bidder as follows: - In the matter between In the matter between BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the above FIRST NATIONAL BANK OF BOTSWANA LIMITED PLAINTIFF AFRICAN BANKING CORPORATION OF PLAINTIFF TH Honourable Court, the following immovable property will be sold by public auction by DATEand OF SALE : FRIDAY, 4 DECEMBER 2020 BOTSWANA LIMITED DEPUTY SHERIFF ONKEMETSE MEDUPE to the highest bidder as follows:-

TOURS OF AFRICA (PTY) LIMITED FIRST DEFENDANT and TIMEAGAIN PACHAWO : 10: 30 A.M. SECOND DEFENDANT JIMMY HASKINS KERENG D EFENDANT DATE OF SALE : FRIDAY, 4TH DECEMBER 2020 VENUE NOTICE OF :SALE IN EXECUTIONLOT 21574 GABORONE NOTICE OF SALE IN EXECUTION (situate at Phakalane) TIME : 10:30 A.M. BE PLEASED TO TAKE NOTICE THAT that pursuant to a Judgment granted by the above BE PLEASED TO TAKE NOTICE THAT that pursuant to a Judgment granted by the above VENUE : TRIBAL LOT 1387 RAMOTSWA NOTICE LEGAL Honourable Court, the following immovable property will be sold by public auction by Honourable Court, the following immovable property will be sold by public auction by PROPERTY TO BE SOLD : DEPUTY SHERIFF MOLEBI GALEITSIWE to the highest bidder as follows:- PROPERTYDEPUTY SHERIFF TO BE SOLD ONKEMETSE : MEDUPE to the highest bidder as follows:- The rights and interest of the First Defendant in LOT 21574 Gaborone, situated in DATE OF SALE : FRIDAY, 4TH DECEMBER 2020 TheDATE rights OF SALE and interest : FRIDAY, of the 4 THDefendant DECEMBER in a 2020 certain piece of land being Tribal Lot Gaborone Township Extension No. 55, measuring 1152 m2 (one thousand one TIME : 10:30 A.M. 1387TIME Ramotswa, situated: 10:30 atA.M. Ramotswa in the Bamalete Tribal Territory, measuring hundredVENUE and fifty: LOTtwo 21574square GABORONE metres) (situateand held at Phakalane) under Deed of Transfer no.900 VENUE28/2014 m2 (nine hundred: TRIBAL square LOTmeters), 1387 whichRAMOTSWA property is held under Memorandum of th dated the 14 day of January 2014 and registered in favour of Tours Of AfricaAgreement (Pty) of Lease no. TL 631/2002 dated the 30th day of August 2002 and made LimitedPROPERTY compri TO BEsing SOLD of :4 The bedrooms, rights and interest lounge, of the famil Firsty Defendant room, kitchen in LOT 21574, 3 bathrooms inPROPERTY favour, out of TO JIMMY BE SOLD HASKINS : The rightsKERENG and interestcomprising of the of Defendant 2 bedrooms, in a certain 1 bedroom piece garGaborone,age, servants situated in quarters, Gaborone Townshipveranda Extensiontogether No. with 55, anymeasuring and all 1152 improvements m2 (one unsutheretoof landite ,being .kitchen, Tribal dining Lot 1387 area, Ramotswa, veranda, situatedcommon at bathroom,Ramotswa ingarage, the Bamalete boundary Tribal wall thousand one hundred and fifty two square metres) and held under Deed of Transfer no. togetherTerritory, measuringany and all 900 improvements m2 (nine hundred thereon square. meters), which property is held under TERMS28/2014 datedOF SALE the 14 th day of January 2014: and registeredOnly cinash favour or of bankTours Ofguaranteed Africa (Pty) cheques Memorandum will of Agreement of Lease no. TL 631/2002 dated the 30th day of August 2002

Limited comprising of 4 bedrooms, lounge, family room,be accepted. kitchen, 3 bathrooms, The Conditions out garage, of Saleand may made be in favour of JIMMY HASKINS KERENG comprising of 2 bedrooms, 1 bedroom servants quarters, veranda together with any and all improvements thereto. TERMSunsuite, OF kitchen, SALE dining area, veranda,: Only common cash bathroom, or bank garage,guaranteed boundary cheques wall together will be viewed at the office of Plaintiff’s attorneys. any and all improvements thereon. accepted. The Conditions of Sale may be viewed at the office of Plaintiff’s attorneys. CONDITIONS OF SALE : Only cash or bank guaranteed cheques will be accepted. The DATED AT GABORONE ON THIS THE 27TH DAY OF OCTOBER 2020. Conditions of Sale may be viewed at the office of Plaintiff’s attorneys. CONDITIONS OF SALE : Only cash or bank THguaranteed cheques will be accepted. The DATED AT GABORONE ON THIS THE 26 DAY OF OCTOBER 2020. Conditions of Sale may be viewed at the office of Plaintiff’s attorneys.

DATED AT GABORONE ON THIS THE 27TH DAY OF OCTOBER 2020. OSEI-OFEI SWABI & CO. DATED AT GABORONE ON THIS THE 26TH DAY OFOSEI OCTOBER-OFEI SWABI 2020. & CO.

OSEI-OFEIPlaintiff's SWABI & AttorneysCO. Plaintiff's Attorneys Plaintiff’s AttorneysFirst Floor, Unit 18, Kgale Mews, OSEI-OFEIFirst Floor, SWABI Unit 18, & CO.Kgale Mews, First Floor,Gaborone Unit 18, Kgale International Mews, Finance Park, Plaintiff’sGaborone Attorneys International Finance Park, GaboroneP International O Box 403506, Finance Park, FirstP O Floor,Box 403506, Unit 18, Kgale Mews, P O Box 403506, GaboroneGABORONE International Finance Park, GABORONE (Ref: KOO.lr.008968) GABORONE P O Box 403506, (Ref: KOO.lr.010055) Deputy Sheriff Onkemetse Medupe (Ref: KOO.lr.010055) GABORONE Deputy Sheriff Molebi Galeitsiwe (Ref:[Cell KOO.lr.008968) no. 72315134] Deputy Sheriff Molebi Galeitsiwe [Cell no. 71632036[Cell no. / 39071632036 8293] / 390 8293] Deputy Sheriff Onkemetse Medupe [Cell no. 72315134]

THE BUSINESS WEEKLY & REVIEW 18 Friday 30 October 2020 - 05 November 2020 www.businessweekly.co.bw Legal Notice

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA MOTHOBI.J HELD AT LOBATSE HELD AT GABORONE CASE NO: CVHGB 003130-15 CASE NO: CVHGB-002048/18 In the matter between: CASE NO: CVHGB-001750/20 In the matter between: BOTSWANA BUILDING SOCIETY In the matterP laintiff between: BAEMEDI LEEME PULE Plaintiff and BBS LIMITED (formerly BOTSWANA BUILDING SOCIETY) Plaintiff and KABOYAONE ROY JEREMIAH and D efendant MATLHOGONOLO BOITSHWARELO Defendant EMMANUEL ONTWETSE MOLEFHI Defendant NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTION BE PLEASED TO TAKE NOTICE that pursuant to Court Order of this Honourable Court dated 27th June 2019 and stamped on the 27th BE PLEASED TO TAKE NOTICE THAT pursuant to the Judgment granted by the Honourable Court the following June 2019, the following immovable property of the above mentioned Defendant will be sold in execution to the highest bidder by Deputy immovable property of the Defendant will be sold by public auction by DeputyBE SheriffPLEASED Ikageng TO SeloiTAKE of NOTICE71472478 pursuant to to the Judgment granted by the Honourable Court the following Sheriff D. P Gabobakwe in the manner hereinafter set out. the highest bidder as follows:- immovable property of the Defendant will be sold by public auction by Deputy Sheriff Ikageng Seloi of 71472478 DATE OF SALE: 1st December 2020 to the highest bidder as follows:- TIME OF SALE: 10:30 Hours DATE OF SALE: 6th July 2017 PLACE OF SALE: Tribal Lot 5658, Mmopane TIME OF SALE: 11:30am DATE OF SALE: 25th NOVEMBER 2020 TERMS OF SALE: Cash or Bank Guaranteed Cheques PLACE OF SALE: Tribal Lot 12300, Tlokweng TIME OF SALE: 0900 Hours PROPERTY TO BE SOLD: Certain Piece of Land being Tribal Lot 5658 situated at Mmopane in the Bakwena Tribal Territory measuring PLACE OF SALE: Lot 26157, Gaborone 855m², held under Memorandum of Agreement of Lease No. TL 405/2015 dated 17th March 2015 made in favour of Matlhogonolo PROPERTY TO BE SOLD: Boitshwarelo together with the developments thereon being an incomplete 3 bedroomed house up to roof level. Defendant’s rights, title and interest on a certain piece of Land being TribalPROPERTY Lot 12300, Tlokweng TO BE SOLD measuring : Defendant’s 759m2 rights, title and interest on a certain piece of Land being Lot 26157, together with developments thereon being a main house with a 3 bedroomGaborone master en-suit, measuring fitted 387m kitchen,2 together sitting withroom, developments thereon being a three bedroom house, master en suite, • The condition of sale may be inspected at the Offices of Gobhoza Legal Practice at the addresses below. dining room and multi residential developments being 2 bedroom house, sitting room and kitchen sitting room, dining room, fitted kitchen, servant quarter (attached) en suite, with boundary wall, electric fence and DATED AT GABORONE ON THIS 23RD DAY OF OCTOBER 2020 a motorised steel gate TERMS AND CONDITIONS: Cash or Bank guaranteed cheque otherwise details and conditions of sale may be inspected at the Plaintiff’s Attorneys Deputy Sheriff D.P Gabobakwe TERMS AND CONDITIONS: Cash or Bank guaranteed cheque otherwise details and conditions of sale may be 73900288/72901534 offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue,inspected Gaborone. at the Plaintiff’s Attorneys offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue, C/o Gobhoza Legal Practice Gaborone. Plaintiff’s Attorneys DATED AT GABORONE THIS 6th DAY OF JUNE 2017 Plot 115, Unit 19, Kgale Mews Gaborone International Finance Park DATED AT GABORONE THIS 12th DAY OF OCTOBER 2020 DEPUTY SHERIFF IKAGENG SELOI c/o P O Box 30884 GABORONE 71472478 DEPUTY SHERIFF IKAGENG SELOI c/o Plaintiff’s Attorneys Plot 387, Independence Avenue Private Bag Bo 177 GABORONE (TS/mm/10312) Plaintiff’s Attorneys IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA Plot 387, Independence Avenue HELD AT GABORONE Private Bag Bo 177 CASE NO. CVHGB - 000449 - 20 GABORONE In the matter between: STANBIC BANK BOTSWANA LIMITED Plaintiff (TS/mm/13444) and IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA MOHUBELE SUPPLIERS (PTY) LTD 1st Defendant nd HELD AT LOBATSE CVHGB-ONTLAMETSE001068 GOMOTSANYANG-18 KEBOHULA 2 Defendant

NOTICE OF SALE IN EXECUTION JUDGE - LETSIDIDI In the matter between: BE PLEASED TO TAKE NOTICE pursuant to a Judgment granted by the above Honourable Court on the 07th July 2020 the following immovable property of the abovementioned 2nd Defendant will be sold by means of public auction to the highest bidder by Deputy Sheriff AFRICAN BANKING CORPORATION OF BOTSWANA LIMITED Plaintiff N. Ookame as follows:

DATE OF SALE: Monday 30 November 2020. and VENUE: Tribal Lot, 562, Metsimotlhabe TIME OF SALE: 1430 Hours EVARISO TSUNGAI MADANGWA Defendant TERMS OF SALE : All participating bidders are required to make an upfront payment of BWP 10 000.00 directly to the undersigned Attorneys, refundable only to those who did not succeed in the sale. Only cash or bank guaranteed cheques will be accepted. The detailed conditions of sale are available for inspection at the undersigned Attorneys’ offices IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CVHGB-001068-18 NOTICE OF SALE IN EXECUTION HELD AT LOBATSE JUDGE - LETSIDIDI PROPERTY TO BE SOLD: The 2nd Defendant’s title rights and interest in a certain piece of land being Tribal Lot 562, Metsimotlhabe

situate in the Bakwena Tribal Territory, measuring 900m2 (Nine Hundred Square Metres) which property is held under Memorandum of In the matter between Agreement of Grant of Lease No. TL 94/2014 dated the 23rd January 2014 together with all the improvements thereon being a Screen BE PLEASED TO TAKE NOTICE that pursuant to a Judgment granted by the abovewall, sliding gate, 2 bedroomed house, fitted kitchen, bathroom, kitchen, and another 4 bedroomed house, master en-suite, study room, AFRICAN BANKING CORPORATION OF PLAINTIFF bathroom, toilet, dinning room. BOTSWANAHonourable LIMITEDCourt, the following immovable property will be sold by public auction by andDEPUTY SHERIFF MOLEBI GALEITSIWE to the highest bidder as follows:- DATED AT GABORONE ON THIS 13TH DAY OF OCTOBER 2020. EVARISO TSUNGAI MADANGWA DEFENDANT COLLINS CHILISA CONSULTANTS TH Plaintiff’s Attorneys DATE OF SALE : FRIDAY, 4 DECEMBER 2020 NOTICE OF SALE IN EXECUTION Plot 4858, Lecha Close Off Marakanelo Way TIME : 10:30 A.M. Extension 11 BE PLEASED TO TAKE NOTICE THAT that pursuant to a Judgment granted by the above P O Box 45136, GABORONE HonourableVENUE Court, the following immovable: propertyLOT 35745 will beGABORONE sold by public auction by Deputy Sheriff N Ookame [Cell No. 72879169/77435503] DEPUTY SHERIFF ONKEMETSE MEDUPE to the highest bidder as follows:- PROPERTY TO BE SOLD : DATE OF SALE : FRIDAY, 4TH DECEMBER 2020 TIMEThe rights and interest: 10:30 of A.M. the Defendant in Lot 35745 Gaborone, situate at GaboroneIN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA VENUE : LOT 35745 GABORONE2 HELD AT LOBATSE West Extension 35, measuring 434 m (four hundred and thirty four square metres) CASE NO. CVHGB - 000097 - 16 th and held under Certificate of Registered State Title No. 150/96 dated the 4 dayIn theof matter between: PROPERTYMarch 1996 TO and BE made SOLD in : favourThe rights of EVARISTOand interest TSUNGAIof the Defendant MADANGWA in Lot 35745together witAFRICANh BANKING CORPORATION OF BOTSWANA LIMITED Plaintiff Gaborone, situate at Gaborone West Extension 35, measuring 434 m2 (four hundred and and any and all developments and improvements thereon. BERNARD BOLELE Defendant thirty four square metres) and held under Certificate of Registered State Title No. 150/96 th datedTERMS the OF 4 daySALE of March 1996 and made: in favourOnly of cEVARISTOash or bank TSUNGAI guaranteed MADANGWA cheques will NOTICE OF SALE IN EXECUTION together with any and all developments and improvementsbe accepted. thereon. The Conditions of Sale may be BE PLEASED TO TAKE NOTICE pursuant to a Judgment granted by the above Honourable Court on the 08th April 2016 the following viewed at the office of Plaintiff’s attorneys.immovable property of the abovementioned Defendant will be sold by means of public auction to the highest bidder by Deputy Sheriff CONDITIONS OF SALE : Only cash or bank guaranteed cheques will be accepted. The D. J. Moyo as follows: ConditionsDATED AT of SaleGABORONE may be viewed ON THISat the officeTHE 2of6 THPlaintiff’s DAY OFattorneys. OCTOBER 2020. DATE OF SALE: Friday 20 November 2020. TH VENUE: Tribal Lot 3800, Mahalapye

LEGAL NOTICE LEGAL DATED AT GABORONE ON THIS THE 26 DAY OF OCTOBER 2020. TIME OF SALE: 1000 Hours OSEI-OFEI SWABI & CO. OSEI-OFEI SWABI & CO. Plaintiff's Attorneys TERMS OF SALE : Only cash or bank guaranteed cheques will be accepted. The detailed conditions of sale are available for inspection Plaintiff’s Attorneys First Floor, Unit 18, Kgale Mews, at the undersigned Attorneys’ offices. First Floor, Unit 18, Kgale Mews, GaboroneGaborone International Internation Financeal Park,Finance Park,PROPERTY TO BE SOLD: The Defendant’s title rights and interest in a certain piece of land being Tribal Lot 3800, Mahalpye situate in the P O Box 403506, Bangwato Tribal Territory, measuring 4608m2 (Four Thousand Six Hundred and Eight Square Metres) held under Notorial Deed of Cession P O Box 403506, Number FTM 237/2011 dated the 14th November 2011 in Favour of Bernard Bolele together with all the improvements thereon being 3 GABORONEGABORONE Bedrooms, 3 sitting rooms, 4 bathrooms or toilets, Guest House, security or boundary wall with electric fence. (Ref: (Ref:KOO.lr.012429) KOO.lr.012429) TH DeputyDeputy Sheriff SheriffMolebi GaleitsiweMolebi Galeitsiwe DATED AT GABORONE ON THIS 08 DAY OF OCTOBER 2020. [Cell [Cellno. 71632036] no. 71632036] COLLINS CHILISA CONSULTANTS Plot 4858, Lecha Road Off Marakanelo Way Extension 11 P O Box 45136 GABORONE Deputy Sheriff D. J. Moyo [Cell No. 72192666

TO ADVERTISE call now Tel: 3170 615 THE BUSINESS WEEKLY & REVIEW www.businessweekly.co.bw Legal Notice Friday 30 October 2020 - 05 November 2020 19

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONECASE NO: CVHGB 003130-15 HELD AT LOBATSECASE NO: CVHGB 003130-15 In the matter between: In the matter between: CASE NO: CVHGB 001182-18 CASE NO: CVHGB 003084-17 BOTSWANA BUILDING SOCIETY In the matterP laintiff between: BOTSWANA BUILDING SOCIETY In the matterP laintiff between: and BOTSWANA BUILDING SOCIETY and Plaintiff BOTSWANA BUILDING SOCIETY Plaintiff KABOYAONE ROY JEREMIAH and D efendant KABOYAONE ROY JEREMIAH and D efendant VICTORIA GAOTSOFALE QUEEN DIKGOBO Defendant THATO NONO MOTSWETLA 1st Defendant NOTICE OF SALE IN EXECUTION NOTICE OF SALE IN EXECUTIONBOITSHEPO TSHEPO MOTSWETLA 2nd Defendant NOTICE OF SALE IN EXECUTION BE PLEASED TO TAKE NOTICE THAT pursuant to the Judgment granted by the Honourable Court the following BE PLEASED TO TAKE NOTICE THAT pursuant to the Judgment granted by the Honourable Court the followingNOTICE OF SALE IN EXECUTION immovable property of the Defendant will be sold by public auction by DeputyBE SheriffPLEASED Ikageng TO SeloiTAKE of NOTICE71472478 pursuant to to immovablethe Judgment property granted of the by Defendant the Honourable will be soldCourt by the public following auction by Deputy Sheriff Ikageng Seloi of 71472478 to the highest bidder as follows:- immovable property of the Defendant will be soldthe by highest public auctionbidder asby follows:-Deputy Sheriff Ikageng Seloi of 71472478 BE PLEASED TO TAKE NOTICE pursuant to the Judgment granted by the Honourable Court the following to the highest bidder as follows:- immovable property of the 2nd Defendant will be sold by public auction by Deputy Sheriff Ikageng Seloi of DATE OF SALE: 6th July 2017 DATE OF SALE: 6th July 2017 71472478 to the highest bidder as follows:- TIME OF SALE: 11:30am DATE OF SALE: 24th NOVEMBER 2020TIME OF SALE: 11:30am PLACE OF SALE: Tribal Lot 12300, Tlokweng TIME OF SALE: 0900 hours PLACE OF SALE: Tribal Lot 12300, Tlokweng DATE OF SALE: 25th NOVEMBER 2020 PLACE OF SALE: Tribal Lot 4781, Tlokweng TIME OF SALE: 0900 Hours PROPERTY TO BE SOLD: PROPERTY TO BE SOLD: PLACE OF SALE: Lot 16200, Gaborone Defendant’s rights, title and interest on a certain piece of Land being TribalPROPERTY Lot 12300, Tlokweng TO BE SOLD measuring : Defendant’s 759m2 rights, titleDefendant’s and interest rights, on a title certain and interestpiece of on Land a certain being pieceTribal ofLot Land 4781, being Tribal Lot 12300, Tlokweng measuring 759m2 together with developments thereon being a main house with a 3 bedroomTlokweng master en-suit, measuring fitted 868m kitchen,2 together sitting room, with developmentstogether with thereon developments being main thereon house being comprising a main ofhouse 4 bedrooms with a 3 bedroomPROPERTY master en-suit, TO fittedBE SOLD kitchen, : 2nd sittingDefendant’s room, rights, title and interest on a certain piece of Land being Lot 16200, dining room and multi residential developments being 2 bedroom house, sittingwith 3room ensuites, and kitchen dining room, fitted kitchen, commondining room bathroom and multi and residentialan outbuilding developments comprising being of 21 bedroombedroom, house, sittingGaborone room andmeasuring kitchen 439m2 together with developments thereon being a residential plot developed with a single fitted kitchen and bathroom storey dwelling house having an outbuilding and ablution all enclosed within walled boundaries. TERMS AND CONDITIONS: TERMS AND CONDITIONS: Cash or Bank guaranteed cheque otherwise details and conditions of sale mayTERMS be inspected AND CONDITIONS at the Plaintiff’s: Cash Attorneys or Bank guaranteedCash or chequeBank guaranteed otherwise chequedetails andotherwise conditions details of and sale conditions may be of sale mayTERMS be inspected AND CONDITIONS at the Plaintiff’s: Cash Attorneys or Bank guaranteed cheque otherwise details and conditions of sale may be offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue,inspected Gaborone. at the Plaintiff’s Attorneys offices or Deputyoffices Sheriff’s or Deputy Office Sheriff’s situated Office at Plot situated 387, atIndependence Plot 387, Independence Avenue, Avenue,inspected Gaborone. at the Plaintiff’s Attorneys offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue, Gaborone. Gaborone. DATED AT GABORONE THIS 6th DAY OF JUNE 2017 DATED AT GABORONE THIS 6th DAY OF JUNE 2017 DATED AT GABORONE THIS 12th DAY OF OCTOBER 2020 DATED AT GABORONE THIS 12th DAY OF OCTOBER 2020 DEPUTY SHERIFF IKAGENG SELOI c/o DEPUTY SHERIFF IKAGENG SELOI c/o 71472478 DEPUTY SHERIFF IKAGENG SELOI c/o 71472478 DEPUTY SHERIFF IKAGENG SELOI c/o Plaintiff’s Attorneys Plaintiff’s Attorneys Plot 387, Independence Avenue Plot 387, Independence Avenue Private Bag Bo 177 Private Bag Bo 177 GABORONE GABORONE (TS/mm/10312) Plaintiff’s Attorneys (TS/mm/10312) Plaintiff’s Attorneys Plot 387, Independence Avenue Plot 387, Independence Avenue Private Bag Bo 177 Private Bag Bo 177 GABORONE GABORONE (TS/mm/10154) (TS/mm/11682)

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONE

IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA IN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA HELD AT GABORONEIN THE HIGH COURT OF THE REPUBLIC OF BOTSWANA CASE NO: CVHGB 003130-15 HELD AT GABORONE HELD AT LOBATSE In the matter between: Case No. CVHGB-003750-14 CASE NO: CVHGB 003130-15 BOTSWANA BUILDING SOCIETYCASE NO: CVHGB 003109-17 P laintiff In the matter between: In the matter between: In the matter between: and BOTSWANA BUILDING SOCIETY Plaintiff BOTSWANA BUILDING SOCIETY BOTSWANAP laintiff BUILDING SOCIETY KABOYAONE ROY JEREMIAH Plaintiff D efendant and and and KEOAGILE FREDRICK PHIRINYANE Defendant KABOYAONE ROY JEREMIAH THATO NONOD efendant MOTSWETLA NOTICE OF DefendantSALE IN EXECUTION

NOTICE OF SALE IN EXECUTION NOTICE OFBE SALE PLEASED IN EXECUTION TO TAKE NOTICE THAT pursuant to the Judgment granted by the Honourable Court the followingNOTICE OF SALE IN EXECUTION immovable property of the Defendant will be sold by public auction by Deputy Sheriff Ikageng Seloi of 71472478 to BE PLEASED TO TAKE NOTICE THAT pursuant to the Judgment grantedBE by PLEASEDthe Honourable TO TAKECourt theNOTICE following pursuant to thethe highest Judgment bidder granted as follows:- by the Honourable Court the following BE PLEASED TO TAKE NOTICE pursuant to the Judgment granted by the Honourable Court the following immovable property of the Defendant will be sold by public auction by Deputyimmovable Sheriff Ikageng property Seloi of the of Defendant71472478 towill be sold by public auction by Deputy Sheriff Ikageng Seloi of 71472478 immovable property of the Defendant will be sold by public auction by Deputy Sheriff Ikageng Seloi of Cell No: the highest bidder as follows:- to the highest bidder as follows:- DATE OF SALE: 6th July 2017 71472478 to the highest bidder as follows:- TIME OF SALE: 11:30am th PLACE OF SALE: Tribal Lot 12300, Tlokweng DATE OF SALE: 25th NOVEMBER 2020 DATE OF SALE: 6th July 2017 DATE OF SALE: 25 NOVEMBER 2020 TIME OF SALE: 11:30am TIME OF SALE: 1400 Hours TIME OF SALE: 10:00 am PLACE OF SALE: Tribal Lot 12300, Tlokweng PLACE OF SALE: Tribal Lot 4506, MmopanePROPERTY TO BE SOLD: PLACE OF SALE: Lot 49881, Gaborone Defendant’s rights, title and interest on a certain piece of Land being Tribal Lot 12300, Tlokweng measuring 759m2 PROPERTY TO BE SOLD: PROPERTY TO BE SOLD : Defendant’s rights, titletogether and interest with developments on a certain thereonpiece of beingLand beinga main Tribal house Lot with 4506, a 3 bedroomPROPERTY master en-suit, TO fittedBE SOLD kitchen, : Defendant’s sitting room, rights, title and interest on a certain piece of Land being Lot 49881, 2 Defendant’s rights, title and interest on a certain piece of Land being TribalMmopane Lot 12300, measuring Tlokweng 900mmeasuring2 together 759m with2 developmentsdining room thereon and multi being residential a main house developments consists ofbeing lounge 2 bedroom with air house, sittingGaborone room measuringand kitchen 540m with developments thereon being a 3 bed roomed house, master en suite, sitting together with developments thereon being a main house with a 3 bedroomconditioning, master en-suit, kitchen fitted fitted kitchen, with sittingwooden room, cupboards, common bathroom with a bathtub, toilet, four bedrooms with room, dining room, fitted kitchen, double garage with electrified boundary wall dining room and multi residential developments being 2 bedroom house, sittingwardrobes room andwithout kitchen doors, house 2 consists of kitchenette,TERMS AND common CONDITIONS shower-room: with a toilet, 2 bedrooms, House 3 consists of kitchenette with single sink, commonCash shower-room or Bank guaranteed with a toilet cheque and 2 otherwisebedrooms. details and conditions of sale mayTERMS be inspected AND CONDITIONS at the Plaintiff’s: Cash Attorneys or Bank guaranteed cheque otherwise details and conditions of sale may be TERMS AND CONDITIONS: offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue,inspected Gaborone. at the Plaintiff’s Attorneys offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue, Cash or Bank guaranteed cheque otherwise details and conditions of sale mayTERMS be inspected AND CONDITIONS at the Plaintiff’s: Cash Attorneys or Bank guaranteed cheque otherwise details and conditions of sale may be Gaborone. offices or Deputy Sheriff’s Office situated at Plot 387, Independence Avenue,inspected Gaborone. at the Plaintiff’s Attorneys offices or DeputyDATED Sheriff’s AT GABORONE Office situated THIS at6th Plot DAY 387, OF Independence JUNE 2017 Avenue, th Gaborone. DATED AT GABORONE THIS 12 DAY OF OCTOBER 2020 DATED AT GABORONE THIS 6th DAY OF JUNE 2017 DEPUTY SHERIFF IKAGENG SELOI c/o 71472478 DATED AT GABORONE THIS 12th DAY OF OCTOBER 2020 DEPUTY SHERIFF IKAGENG SELOI c/o Plaintiff’s Attorneys DEPUTY SHERIFF IKAGENG SELOI c/o Plot 387, Independence Avenue

71472478 DEPUTY SHERIFF IKAGENG SELOI c/o NOTICE LEGAL Plaintiff’s Attorneys Private Bag Bo 177 Plot 387, Independence Avenue GABORONE Private Bag Bo 177 (TS/mm/10312) Plaintiff’s Attorneys GABORONE Plot 387, Independence Avenue (TS/mm/10312) Plaintiff’s Attorneys Private Bag Bo 177 Plot 387, Independence Avenue GABORONE Private Bag Bo 177 (TS/mm/9938) GABORONE (TS/mm/11681)

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