BPC chief executive Stefan Schwarzfischer resigns

Justice Kavahematui & Dikarabo Ramadubu - BG reporters
Wednesday, 20 February 2019
BPC chief executive Stefan Schwarzfischer resigns

Chief Executive Officer (CEO) of Botswana Power Corporation Dr. Stefan Schwarzfischer has offered to resign from his role at the corporation; Botswana Guardian has been reliably informed.

The offer must now be considered by the Minister of Mineral Resources, Green Technology and Energy Security, Eric Molale; the appointing authority.  It is alleged that Schwarzfischer will leave around March which is the financial year so that he can assist with the audit as the accounting officer. Reports reaching this publication indicate that the hunt for Schwarzfischer’s replacement has already started to enable a smooth transition.The German national Schwarzfischer’s contract runs until October 2021. It is not yet known why the CEO is terminating his lucrative contract.

Sources say he allegedly approached the Board sometimes in January and proposed to part ways with the BPC, a state-owned company for electrical power generation, transmission and distribution.  Board chairman Bonny Thebenyane declined to comment on the matter but Botswana Guardian understands that the board has already passed Schwarzfischer’s request to minister Molale to make the final determination.  Minister Molale claimed ignorance of the matter. He told this publication, “I have not been briefed. I am not aware.” “If there is something of that sort the board still has to brief me about it if indeed it is true,” Molale said Wednesday evening.

Schwarzfischer becomes the second member of the executive management to leave the company folowing the alleged forced resignation a fortnight ago of general manager for Human Resources, Kamogelo Chiusiwa. Schwarzfischer’s management will be remembered for the roadmap it set for itself to transform BPC into a profitable and leading power utility in the region by 2020 under the strategy known as Masa 2020. To achieve this management started with an internal restructuring exercise in 2015 to improve efficiency and productivity.

Last year Schwarzfischer announced that BPC has made its first profit in ten years highlighting that they have performed above expectation. BPC’s financial report indicated that the corporation’s operating income grew by 34 percent which stood at P138 604 million in the 2018 financial year against P103 544 million recorded in 2017.

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