Thursday, October 28, 2021

Lekaukau throws in towel after long chequered stay

The board chairperson of Standard Chartered Bank Botswana (SSCB), Bojosi Otlhogile, has confirmed the imminent departure of the banks’s Chief Executive Officer (CEO), Moatlhodi Lekaukau. 

Lekaukau has been in the financial services sector for the past 17 years and joined the SSCB in February 2012 as its CEO becoming the first Motswana to hold the post. 

Since its arrival in local shores over 200 years ago bank, the bank has never been headed by a local person until the appointment of Lekaukau some five years back. 

Addressing a group of journalists at the bank’s head office in Gaborone, Bojosi said the bank had already started the process of identifying Lekaukau’s replacement. 

“We are confident in the team that Lekaukau is leaving behind. It is a strong and competent team which could be considered should they forward their interest,” Bojosi said. 

For his part, Lekaukau said he would rather look at his departure as a professional “sabbatical leave” rather than just a mere resignation.

He refuted allegations that linked his resignation to recent media reports regarding the bank’s alleged multi-million financial scandal with one of his clients 

“I have been in the financial industry for 17 years and now and I feel it is the perfect time to take a sabbatical leave and pursue other personal interests that I have always wanted to do”, Lekaukau noted. 

When  asked to comment on the Botswana’s banking industry Lekaukau said investors in Botswana need to adjust to the economy’s current “needs” as there is still a lot of investment opportunities. 

He mentioned the Small Medium Enterprises (SMEs) which he said showed growth every year and is a very considerable investment. 

Moatlhodi was appointed Head of Mergers and Acquisitions at Deloitte & Touche Corporate Finance in October 2010, advising major corporate clients on restructuring, project management, capital raisings, deal initiations and transaction negotiations.

He has held a wide range of posts since joining Deloitte & Touche in January 2000, in both the South African and USA practices. Moatlhodi was educated in Botswana, Zimbabwe and the University Of Cape Town, South Africa and is a member of the South African Institute Of Chartered Accountants. 

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