I was made to transfer my TDC shares - witness

ISAIAH MOREWAGAE
Staff Writer | Friday April 16, 2010 00:00

Thebenyane told the Gaborone Regional Magistrate's Court under cross-examination that he and his colleague and the then Debswana assistant group secretary Khumo Morupisi were awarded subscriber shares in TDC after they incorporated it. Their shareholding was however not beneficial as the company was not trading and had no liabilities. 'We were to hold on until told on how to proceed by Joseph Matome,' Thebenyane said.

He added that the company was to drive the tourism project that Debswana was to undertake at a later stage. He further revealed that at the time of TDC incorporation, Debswana management was still developing proposals, which were to be presented to the Debswana board of directors.

He told the court that he was surprised when he was made to transfer his shares to the late Nchindo and his son. He said all along he had believed that TDC was a Debswana project. However, Thebenyane told the court that during a series of communications he had with his then boss, Morupisi, he learnt that Nchindo had indicated that TDC was his name and could not be used by Debswana. After the transfer of their shares to Nchindo and Garvas, Thebenyane told the court that Matome then suggested the names: Nala, Modi and Sesana to be used in place of Bok Bwai Vygie Pty Ltd.

The court heard that Bok Bwai Vygie was a shelf company that Debswana bought to be changed into TDC at a later stage.Thebenyane also revealed that at the Debswana board meetings he attended, while deputising for Matome, he he could not recall Nchindo declaring his private interests in TDC.

However, defence attorney Craig Webster put it to Thebenyane that two of his colleagues have written statements showing that TDC was being registered for the then managing director Nchindo. An extract from one Lame More's statement read: 'Sometimes in 2001 I was requested to register TDC by Morupisi and I was made aware that the company was being registered for the managing director.'

After the extract was read, Thebenyane conceded that he might have been wrong if the contents of the statement were true. The case continues.