CMB bosses face investor firing squad

CMB director, Okaile
CMB director, Okaile

The two directors of mothballed asset management firm, Capital Management Botswana (CMB), are due to spend three days next month facing questions from creditors who are tracing more than P500 million that went missing under the firm’s management.

The firm’s provisional liquidator, John Little, has reportedly issued subpoenas for CMB directors, Tim Marsland and Rapula Okaile as well as possible “others” who will only be known on the date of the enquiry.

The face-off will be held before the Master of the High Court in Gaborone, as part of the fact-finding provisions of the Companies Act.

Editor's Comment
Let us all go to vote

Figures released by the country’s electoral management body have shown that a total of 1, 037, 684 people have registered to vote.However, eligible voters could be discouraged by events leading to the voting day like poor execution of advance voting amid talks that the elections could be unfair.There have also been threats by certain opposition politicians that shall the elections not be free and fair, they will halt them.Despite these...

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