Babereki Investments doubles profits despite trouble :: Mmegi Online

The Masego Mogwera-led Babereki Investments, a Botswana Public Employees Union (BOPEU) cash loan company, appears to be weathering the storms, as it more than doubled profit this year, as well as cutting cumulative losses by 50%, a leaked audited financial report shows.

Amidst instability caused by regime toppling and a myriad of court cases, members of BOPEU, estimated to be over 30, 000 would have been worried that the ugly political climate at the union would inevitably negatively affect the performance of the company since 2018.

Audited by Mazars, the same firm that lately audited the likes of Botswana Stock Exchange listed Choppies Enterprises and Sayeed Jamali property company, the auditors have given the company’s financials the thumbs-up and declared that in their opinion, the financial statements present fairly in all material respects the financial performance and cash flows for the year then ended, in accordance with International Financial Reporting Standards.

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