Mogwera reported to NBFIRA

The President of Botswana Public Employees Union (BOPEU), Masego Mogwera, has been reported Non-Bank Financial Institutions Regulatory Authority (NBFIRA) for investigation for her conduct at the union’s subsidiary Babereki Investments (Pty) Ltd.

The regulator has been called to investigate Mogwera and some of the unilateral decisions she made recently when she suspended some directors of Babereki but has never bothered to inform NBFIRA. In a letter written on Tuesday, Olefile Monakwe, has called on the regulator to investigate possible conflict of interest at Babereki where Mogwera acts a shareholder and a director, “which effectively means she reports to herself”.

Monakwe says his suspension was done in bad faith and malice as Mogwera has been looking for something to pin him down on. He alleges that Babereki Board members have ordered the appointment of forensic auditors to investigate poor investment decisions in the financial year 2016/17 that have led to the company losing millions of pula. What Monakwe finds odd is that Mogwera was part of the board that made the investment decisions but refused to recuse herself in the decision to appoint forensic investigators, effectively making a decision to investigate herself. 

He also complains that ever since he was appointed and vetted by NBFIRA as a board member he has been frustrated from performing his duties because he has openly expressed divergent views and differed with decisions made by other Babereki board members aligned to Mogwera.