Mystery shrouds Stanchart CEO exit :: Mmegi Online

Standard Chartered Bank Botswana CEO, Moatlhodi Lekaukau has denied that his surprise exit from the bank is due to pressure for his resignation following allegations of ‘corruption and falsification of information’ made by the Oseg Group.

The CEO’s resignation comes as reports swirl around the bank over a letter by Oseg CEO, Pheko Majakathata in which he complained to the Bank of Botswana about what he termed “incidences of corruption, understating of impairments and falsification of information as perpetrated by the leadership of Standard Chartered Bank”.

In his letter to Bank of Botswana director of banking supervision, Lesedi Senatla, Majakathata claims that after failing to service his debts with Stanchart, his efforts to rehabilitate the business and the debt were deliberately frustrated by Stanchart’s leadership of the bank.

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