CMB bosses face investor firing squad

CMB director, Okaile
CMB director, Okaile

The two directors of mothballed asset management firm, Capital Management Botswana (CMB), are due to spend three days next month facing questions from creditors who are tracing more than P500 million that went missing under the firm’s management.

The firm’s provisional liquidator, John Little, has reportedly issued subpoenas for CMB directors, Tim Marsland and Rapula Okaile as well as possible “others” who will only be known on the date of the enquiry.

The face-off will be held before the Master of the High Court in Gaborone, as part of the fact-finding provisions of the Companies Act.

Editor's Comment
Keep your mask close

Wearing of masks behind closed doors has been mandatory following the government’s August decision that the public was freed from masking in outdoor spaces.According to a press statement from the ministry, all other remaining COVID-19 protocols such as social distancing in schools and requirements for vaccination or PCR tests at ports of entry have also been relaxed.Statistics still show that hundreds still die daily due to the pandemic around...

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