Ginimbi's Botswana Businesses Face Collapse
Monday, January 11, 2021
The court is set to hear an update on the matter in which Darangwa and Kadungure’s family are fighting over his companies with Leo Chiweshe, whom Kadungure had appointed to manage the Botswana assets through a power of attorney.
In her Founding Affidavit in a suit in which she wants Chiweshe to surrender the control of Kadungure’s companies, Darangwa argues the companies require immediate and urgent attention to survive as they are currently operating without direction.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...