The Board and Management of Kgori Capital notes and welcomes the ruling by the Court of Appeal (COA) this morning, the 26th of July 2019, in favour of Kgori Capital. This is with respect to frozen Kgori Capital funds at the request of the Directorate of Public Prosecutions (DPP) in 2018, disputing management fees owed to Kgori Capital.
The ruling highlighted that a contractual dispute need not have been escalated to alleged criminal charges, resulting in Kgori Capital being wholly exonerated of any assertions or allegations of “Money laundering”, “Cheating of public revenue”, and or “Obtaining money by false pretences.”
The COA ruling this morning overturns a previous order of the High Court on the same matter. Furthermore, the ruling effectively clears Kgori Capital of any civil or criminal wrongdoing in the management of NPF funds. “We welcome the ruling of the COA and are of course pleased with this outcome and to have this matter reach its conclusion. We are equally grateful for our Judiciary system in that it avails everyone an opportunity to exercise their right to pursue any case or its outcomes in higher courts. We further recognize the significant role that our courts play in ensuring that the administration of justice is undertaken with utmost fairness and impartiality. I wish to extend our most heartfelt appreciation to our colleagues, clients and business partners, who have remained supportive of us during this challenging period. It is as a result of this confidence that we continue to passionately perform our services with the outlook of creating the utmost value for our stakeholders. Kgori Capital remains a proudly Botswana business with its focus centred on serving our clients with PRIDE as a leading investment management firm,” Managing Director of Kgori Capital, Alphonse Ndzinge said.
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