Mmgei on 30th November reported that the National Petroleum Fund (NPF) had been “looted”.  After a long investigation by the Directorate on Corruption and Economic Crime (DCEC), 6 men including a High Court judge, a former Cabinet minister and an MP are facing 65 criminal charges.  The fund that was designed to help cushion Botswana against the fuel hikes and inflation.  6 men: High Court judge, Zein Kebonang; his twin brother and former Cabinet minister and MP,  Sadique Kebonang; executive director of Botswana Energy Regulatory Authority (BERA), Kenneth Kerekang; asset manager, Bakang Seretse and his younger brother, Mogomotsi; and Kago Stimela are accused.  Also accused are 6 companies – Khulaco (Pty) Ltd, Basis Points Capital (Pty) Ltd, M & B Properties (Pty) Ltd, Raging Bull (Pty) Ltd, Leomog (Pty) Ltd, STM Holdings (Pty) Ltd.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s