Minnows and sharks at BBS moment of truth
Friday, April 30, 2021
Day of reckoning: Molefe, Showa and their attorney Mboki Chilisa recently at Lobatse High Court. PIC: MORERI SEJAKGOMO
Botswana Building Society (BBS) shareholders today finally have their say in the troubles that have rocked the building society in recent weeks.
Ever since a highly public brawl broke out pitting managing director, Pius Molefe and company secretary, Sipho Showa on one side and the seven non-executive directors on the other, shareholders have watched, mouths agape, as a flurry of accusations, denials and counter-accusations have flown daily between the two camps.
“Your and my legitimacy relies on fighting corruption, discrimination and seeking justice.”– Imam KhameneiThis is laid bare in the recently released Auditor General’s report of 2023. The report highlights that government was plundered off millions of pula in wasteful expenditure and irregular procurement at a time when the country was grappling for every thebe to save its citizens. The report reveals that millions set aside for the...