Thursday, October 29, 2020

Former Vice President Kedikilwe steps down from Sefalana board

Botswana’s former Vice President – Dr. Ponatshego Kedikilwe is amongst the four directors who are leaving the board of directors of the local group of companies – Sefalana Holdings. 

Kedikilwe, who was the country’s Vice President during the Ian Khama era joined the Sefalana board in 2014 and went on to become its chairperson the same year replacing the late Julian Nganunu. 

This past week, Sefalana confirmed in a statement that Kedikilwe will be retiring from the board, a development which has also been noted on the Group’s shareholders annual general meeting notification. The AGM is slated for 30th October 2020. 

“It is with a sad heart that we announce that our current Board Chairman, Dr PHK Kedikilwe, who was appointed to the Board on 1 December 2014, retires from his position effective 30 October 2020. Dr Kedikilwe has provided invaluable support and guidance during his tenure and we thank him for his great contribution to the Group”, reads a statement circulated to capital markets players this past week.

Apart from Kedikilwe, Sefalana group has also announced the departure of renowned economist – Dr Keith Jefferies who has since joined the Botswana government as policy advisor. Botswana Housing Corporation Chief Executive – Reginal Motswaiso has also retired from the board as well as Elias Moyo Dewah. Meanwhile Chief Economist at FNB Botswana – Moatlhodi Sebabole and De Beers Global Sightholder Sales (Pty) Limited Chief Financial Officer – Susanne Swaniker-Tettey have been named as new board members at the BSE quoted company which also trades across Botswana borders in Namibia, Lesotho and Zambia.  

The group’s business interests is most visible in the fast moving consumer goods (FMCG)sector but it has, over the years extended its market presence through diversifying its business into that of investment in property, vehicle dealerships, sale of agricultural and soaps and detergents, and the operation of a travel agency.

The group’s financial statements for the year that ended April 2020 shows that its revenue went up by ten percent to P5.8 billion, while profit before tax (PBT) came at P258.8 million, slightly above last year’s P256.7 million. 

In the notes accompanying its latest financials, the group said it had placed greater focus on its FMCG business across countries it operates in, making considerable progress in the first half of the year before the disruptions brought by Covid 19. 

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