CMB case: Contractual dispute turns criminal matter

CMB case:  Contractual dispute turns criminal matter
CMB case: Contractual dispute turns criminal matter

The matter involving the alleged missing P500 million of Botswana Public Officers Pension Fund (BPOPF) entrusted to Capital Management Botswana (CMB) could be an issue of contractual dispute not criminal matter.

The alleged missing funds were later reportedly fraudulently siphoned into foreign bank accounts leading to what turned into a high profile money laundering case.

It is safe to argue that just like Kgori Capital, CMB might be another victim of gross abuse of office and power by prosecutions authority.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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