Bona Life eyes rebound to market strength
Friday, October 28, 2022 | 740 Views |
Hopeful: Keakabetse expects Bona Life to regain its market share PIC: PHATSIMO KAPENG
Bona Life first established as Bramer Life in 2014 found itself in statutory management in 2015 after one of its shareholders, a Mauritian company ran into legal troubles.
At the time, help came from BPOPF which had set up a P500 million private equity investment fund run by an asset management firm, Capital Management Botswana (CMB).
That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...