Court prevails over Siwawa for CEO post :: Mmegi Online

The Non-Banking Financial Institutions Regulatory Authority (NBFIRA) has been vindicated for vetting out and disqualifying a candidate for the position of Chief Executive Officer (CEO) proposed by Old Mutual Botswana Life Insurance.

The Court of Appeal (CoA) recently approved that the non-banking authority was right in refusing the Old Mutual to appoint one Leonard Siwawa as its CEO for dishonest behaviour. According to court documents in 2016, Old Mutual proposed to NBFIRA to approve Siwawa for the CEO position of which the authority refused following their vetting of the proposed appointment.

Siwawa, who is a highly qualified actuarial scientist, was reportedly vetted out and disqualified for not disclosing his past including a disciplinary hearing with one particular company, Stanlib, an asset management company, and his previous failure to obtain clearance to be a controller.

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