Standard Chartered Chief Executive Officer Moatlhodi Lekaukau has resigned, ending a five-year stay at the high office of the listed lender. The company board, which is chaired by Prof Bojosi Otlhogile broke the news to the market on Wednesday. He is expected to leave the bank which has a market value of P2, 3 billion, at the end of March 2017.
“The board acknowledges and thanks Mr Lekaukau for his dedication and contribution as Chief Executive Officer since joining the company in February 2012,” said the company. “Mr Lekaukau has successfully guided the company through the difficult business environment of recent years, maintaining a strong balance sheet and ensuring a balance between investment and returns to shareholders” The challenges the board was referring include the two-year moratorium on non-interest related products within the banking sector, which was effected on the 1st of January 2014.
There was also the liquidity squeeze which nearly brought the whole industry, half the size of the country’s Gross Domestic Product (GDP), to its knees. The central bank was forced to release P2, 3 billion to bailout the industry which is tightly controlled by British and South African banks.
However, Lekaukau managed to keep the bank stable despite external challenges which affected profitability. It was under his leadership that the bank launched 100 percent mortgage funding, a first for the Botswana market. The bank also expanded its branches and ATMs network to cement its top four position in the sector. At an impromptu press conference on Wednesday afternoon, Otlhogile told inquisitive business journalists that, the outgoing CEO also managed to ensure the company reaches an operating income of P1billion, a first for the bank which is a unit of Standard Chartered plc.
Bojosi also added that, the soft-spoken Lekaukau has also strived to ensure the local executive committee was localized. Late last year, the bank opened a branch at Sir Seretse Khama’s International Airport, another first for the country’s oldest bank. The bank also has considerable exposure in the country’s mining sector. This include BCL, government owned copper producer which has since been placed under voluntary liquidation.
This week the company announced it has considerable exposure to BCL mine and its liquidation ‘could adversely impact the 2016 performance’.The company made a profit of P47 million during the 12 months to December 2015, down from P319 million made the year before. At the close of markets on Wednesday, shares of the company remained unchanged at 760thebe.
The board is not wasting time to look for Lekaukau’s replacement. “The process of identifying an appropriate replacement for Mr Lekaukau is underway and an announcement shall be made in due course,” said the board in a statement. “The person (to replace Lekaukau) must be fit and proper,” stressed Otlhogile, who is a veteran law Professor at the University of Botswana.
Recently, a local newspaper, Gazette has been writing articles to the effect that, Standard Chartered breached rules when dealing with one of its clients, OSEG group, a local company. Is Lekaukau jumping ship? “He is not stepping down because of OSEG accusations,” said the Chairman. It was speculated this week that the University of Cape Town alumni is leaving to concentrate on his personal and family businesses. At the same conference, he told the media that he is taking a sabbatical leave.
“I don’t have any major plans at this point,” he stated. Lekaukau, who has worked for Deloitte in South Africa said he is leaving an industry which is mature. “There are a lot of opportunities in the high end market as well as in the lower market,” he added. The SMMEs is also fast developing, calling for more innovative products and services from players.
Liberty Life Botswana and Orange Botswana this week launched a strategic partnership; where Liberty clients will be able to pay their policies through Orange Botswana’s mobile money payment platform - Orange Money.
Liberty policyholders, particularly the unbanked will not have to travel to Liberty Life service points to make premium payments, but will do so from the convenience of their phones wherever they are. Speaking at the launch, Liberty Life Botswana Managing Director Lulu Rasebotsa said the partnership between Liberty and Orange will enhance the current offerings that Liberty has for its clients.
Among the key reasons Liberty has partnered with Orange is that it saw it as its responsibility to empower its clients, individuals, small businesses and large corporate institutions in offering the best suitable solutions. Rasebotsa indicated that, “When we interacted with our clients outside Gaborone we noticed that there was a gap in the market for the unbanked members of society.
There were clients who wanted some of our funeral policies such as Boago, Critical Illness Plan and others, but lived far from banks and sometimes developments and from that we thought it necessary to create a solution that would ensure that our clients get convenience and have easy access to pay their policies.”
Rasebotsa also highlighted that when looking for solutions they immediately thought of Orange Botswana whose main aim is also to give excellent customer experience and fortunately the mobile network company was receptive to the idea of working together.
“The Orange mobile network covers nearly the entire population of Botswana, including 53 for 3G services. In the past year Orange has had growth in mobile data usages and content and continued excellence in the customer experience so we have no doubt that we have partnered with the right mobile network,” she said.
She hoped that users of Orange Money will benefit from the partnership as they will have an opportunity to access a diverse mix of Liberty Life products to better manage their future and leave a lasting legacy for their families and dependents, while mitigating against the everyday risk of Life. Orange Botswana CEO, Dr Patrick Benon said the Insurance sector is one such a stakeholder, “because it contributes to give our customers a better quality of life. We recognise the zeal in the insurance space as they continue to make their mark.”
Notwane football club Chairman Chimidzani Chimidza is convinced they are on course to reclaim top club status in the country.
The new Toronto chairman said this during the launch of the club website in Gaborone earlier this week.“We have a dream to go back to the BTC Premiership, quality players are at our disposal all we need to do is play enticing football which is result orientated and with all that formula I see Notwane returning to top flight football.”Chimidza stated that Notwane was previously known for producing young talent and they seek to uphold grassroots development by re-introducing the under 12 and under 10 teams, adding that the junior teams will feed the seniors.
Moreover Chimidza said they have recently approached several companies for sponsorship “We had hoped to announce sponsorship together with the website and the official Facebook page, we want to sustain ourselves in the premier league and battle for silverware so we need monetary support.”
The team is motivated in just two years we hope to be amongst BTC Premiership clubs but this seems to be the most appropriate time for the club to aim for the premier league as the First Division South race is still within their reach. Notwane are currently sitting on the 5th spot, and only five points separate them with log leaders Sharps Electrical.
The newly launched website will be an initiative to bring together the club and supporters as the Notwane faithful will get the chance to view results through the website. The website has SMS integration, the fans can also order club merchandise through the website.
Orapa United are currently in Mbabane, Swaziland on a mission to reverse the score line against Mbabane Swallows in a 2017 CAF champions league encounter.
In fact, this is the third day that the Boteti outfit have been on camp in Mbabane ahead of their Saturday 2nd leg game against the Swaziland side. The Ostriches are trailing behind after losing 1-0 in the first leg game at the Francistown stadium. The loss at home only made the Ostriches more determined and vengeful towards their CAF opponent hence an early visit to Swaziland, nothing short of a win will satisfy Ostriches tactical headcoach Madinda Ndlovu.
The Zimbabwean coach and his charges will come after the Swazi side with all they have in a bid to make it to the next round. “I am going to Swaziland to win,” Ndlovu was quoted as saying in the press soon after losing to Swallows at the Francistown stadium last week. The Boteti outfit and reigning Mascom Top 8 champions seem to thrive against tough opposition with their famous wins against reigning BTC premiership champions Township Rollers being a prime example.
Despite the CAF encounter being the Ostriches’ first assignment outside the country, the orange and black clad outfit are more than capable of claiming the scalp of Mbabane Swallows. Ndlovu, who has quickly turned the Ostriches into perpetual giant killers, has a decent arsenal to launch a full-scale attack in Swaziland and make it to the next round of the continental showpiece.
Ndlovu will rely heavily on his strike force in a bid to secure an early goal. Upfront the Ostriches will deploy Patrick Lenyeletse, Ronald Chikomo, Lemogang Maswena and Gift Moyo. The defence will be marshalled by the robust Olekantse Mambo whose physique and agility pose a threat to opposition strikers. The Ostriches defence also includes Kealeboga Molebatsi and Lesenya Ramoroka while the goal posts will be in the trusted hands of Mosimanegape Robert.
In an interview this week, Orapa United spokesperson Tebatso Hule said the team was currently in Swaziland and that management was expected to join them on Thursday this week. “The team went to Swaziland in two batches after we could not fit them all on the same flight.
“We decided that the team should go there early and familiarise themselves with the environment. Our focus is to qualify for the second round.” Hule said adding that an away goal will be crucial on Saturday. Hule revealed that the Ostriches were bitterly disappointed after losing their home game but this time around, the technical team is familiar with Swallows. “The whole team that played the first leg will be available for the Saturday encounter.” Hule said they have made travel arrangements for supporters to travel to Swaziland for the game.
A Botswana Football Association (BFA) bred referee may soon break boundaries after she was listed among prospective officials for the 2019 FIFA women’s World cup scheduled for France. Botsalo Mosimanewatlala (34) is expected to represent Botswana at the international showpiece in just two years from now.
Mosimanewatlala is no stranger to international games after she recently officiated at the women African Cup of Nations competitions in Cameroon last year. This week, a member of the BFA referees commission, Glenda Mokokwe confirmed that Mosimanewatlala has been named among the prospective officials for the 2019 world cup in France. Mokokwe, who is also a CAF instructor said, “Botsalo is a top match official, she passes fitness tests well, she has been consistent in submitting her reports on time”.
A local female referee assessor says that women referees must undergo male fitness test before being fixtured to officiate BPL games. BFA has five female referees who have been invited to officiate at international games. Mokokwe explained that the neighbouring football authority SAFA usually invites local officials International Working Group on Women and Sport General Secretary Game Mothibi who was in the dark about Mosimanewatlala`s listing to the FIFA 2019 world cup said that the FIFA move reflects that women are progressing well as far as empowerment is concerned.
“We are really making progress regarding women empowerment. It could be at a snail’s pace but we have now joined the world and women in sport can be counted among the world class.”Meanwhile, BFA Public Relations and Marketing Officer Tumo Mpatane said they have not received any communication from FIFA concerning the 2019 World cup officials. However, Mpatane said they will get back to BG Sports as soon as they get the information. Of late local female referees have been facing challenges as the Women football league has been delayed for unknown reasons.
Mosimanewatlala and other female officials will have to rely on FND and BPL league to retain their fitness. It is not clear which criterion is used to select the 88 officials from the FIFA member associations. FIFA is keeping an eye on all continental bodies with Asian Football Confederation (AFC) providing 14, Confédération Africaine de Football (CAF) 10, The Confederation of North, Central America and Caribbean Association Football (CONCACAF) 13, Confederación Sudamericana de Fútbol (CONMEBOL) 15, Oceania Football Confederation (OFA) 3, Union des Associations Européennes de Football (UEFA) 33.
BFA has recently experienced tremendous growth as far as match officiating is concerned, with the likes of Joshua Bondo who just came back from the 2017 Africa Cup of Nations in Gabon. BFA officials have received invitations to officiate at different CAF competitions and international friendly games. The list is endless Joshua Bondo (2007–), Lekgotla Johannes (2001–), Bolokanang Julia Lekgowe (2011–), Kutlwano Leso (2010–), Tirelo Mositwane (2013–), Omphile Phuthego (2013–) and Tshepo Mokani Gobagoba (2016–). Oamogetse Godisamang, Ketlogetswe Goitse Modimo, Meshack Medupi, Moemedi Monakwane, Kitso Sibanda, Bakwena Simankalele, Bolokang Lekgowe, Katlholo Moremi, Yvonne Letota, and Tshepiso Ramothogobeng have been assigned international games in recent years.
Botswana’s leading netball umpire Abednico Chitelo is looking forward to becoming the first local umpire to officiate at the World Netball Youth Cup Games.
Chitelo is the only local candidate who was selected together with other international umpires to officiate at the cup games slated for July 2017 in Gaborone.“I believe my contribution to the netball fraternity means a lot to the community and I am humbled to have worked myself this far to register Botswana at international level.
Everything that I do, I always remember that I am representing my country, that has always been my number one motto,” he said.He has umpired in other international netball games such as world university games before but his heart beams with much excitement to be part of the 2017 umpiring delegation.The world netball governing body - International Netball Federation (INF) - observes and keeps record of all affiliates hence Chitelo’s profile seemed to have impressed the INF.
Although netball is mostly associated with females, Chitelo said officiating at the NYWC is his calling. “It came naturally and as a teacher I found myself surrounded by my children most of the time, I realised that I can communicate better through netball.”He traces his journey in netball as far back as the early nineties and has since been focused in developing and nurturing young talent. Chitelo is currently the head coach of University of Botswana (UB) Crystals Netball Club, one of the best netball teams the country has.
For her part, Botswana Netball Association (BONA) president, Tebogo Sebego-Lebotse, said Chitelo’ s achievement means a lot to the association, “We are proud that he has been given such an opportunity and we hope that more Batswana will continue receiving international recognition,” she noted. She explained that BONA is committed to supporting all Batswana umpires, coaches and even players in any way possible to further develop the code in the country.
The government of Botswana was this week accused of hatching a plot to topple BOFEPUSU secretary general Tobokani Rari.
Through a press release, BOFEPUSU deputy Secretary general Ketlhlefile Motshegwa said they have gathered strong information that government is hatching a plan to dismiss Secretary General of BOFEPUSU from work. Motshegwa single out the minister of Presidential Affairs, Public Administration and Governance, Eric Molale as the main course of the problem. He further alleged that government intended to dismiss Rari in the same manner that they dismissed him (Motshegwa) as the Deputy secretary general of BOFEPUSU. Motshegwa was employed as Clerk at the Francistown City Council (FCC).
Rari is currently employed as a teacher in the public service. “This follows Government’s continued militant stance against trade unions, which has resulted in violation of workers rights, persecution of unions rights and draconian amendment of labour laws,” Motshegwa said through the press release. “It is clear that government is at the tail end of the dismissal of Cde Rari after they (government) made it clear prior to BOFEPUSU country wide rallies that they will deal with Union leaders.”
In addition, Motshegwa said that continued confrontational attitude by government is not desirable or the peace and stability of the country.
“The minister of Presidential Affairs, Public Administration and Governance, Eric Molale, has failed to provide leadership and direction in civil service and further nurture good working relationship between Government and trade unions. Motshegwa went as far as accusing Molale of being the source of all this alleged turmoil.