Inside the complex web that ran KFC

Siwawa
Siwawa

A judgement delivered by Justice Michael Leburu this week revealed a complex and intricate matrix of how the KFC Botswana franchise was run under four different companies, using 16 bank accounts with the 12 stores registered under differing trading licences, leases and business names.

Following an urgent petition by First National Bank of Botswana (FNBB) over a P41 million debt, KFC Botswana was placed under provisional liquidation on June 2, 2016 with the provisional liquidator, Nigel Dixon-Warren later determining the franchise’s total creditors at P106 million.

 Lead petitioner, FNBB was this week successful in its bid to have all the four companies liquidated including one that the bank claimed was used as a conduit to divert funds from the franchise.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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