Key anti-money laundering law takes effect
Friday, February 22, 2019
Magashula PIC: MORERI SEJAKGOMO
Last Wednesday, the European Union added Botswana to a list of 23 jurisdictions it intends to approve soon as a global blacklist for money laundering and terrorism financing. Other countries on the list include Nigeria, Iran, Pakistan and Panama.
The beneficial ownership law was passed last year and was expected to kick off in June 2019, to coincide with a countrywide company re-registration exercise, moving all entities to an online platform allowing public perusal of shareholding and beneficial shareholding.
That rare sight deserves heartfelt praise, not only for President Duma Boko and his administration, but also for the Botswana Democratic Party (BDP), the Umbrella for Democratic Change (UDC), the Mogae family, and the entire country.President Boko’s decision to grant a full state funeral to a man who belonged to a rival party was a mark of true statesmanship. He recognised that national leadership carries a weight that belongs to the whole...