Tuesday, March 5, 2024

Letshego defends new CEO appointment as Aupa Monyatsi re-emerges as COO

The BSE quoted financier – Letshego Holdings has defended its Chief Executive – Andrew Okai against allegations that were flying around in the media recently relating to accusation that he used to abuse and ill-treat his co-workers at his ex-job in Zambia. 

According to Zambian media reports, senior members of staff of Standard Chartered Bank left the banker en-masse when Okai was the Chief Executive, a development that attracted media attention. Amongst the cases reported included that of a female member of staff who subsequently resigned and sued the bank for what she said was abuse and mistreatment by her executive boss – Okai. 

Despite this alleged bad record, Okai was recently hired as the Chief Executive Officer of Letshego – an appointment that the group says was approved by the sector regulator – NBFIRA. 

“There are regulatory authorities such as NBFIRA who did the vetting on the CEO to check if CEO is indeed fit and proper to lead this Pan African financial services organization operating in 11 countries,” said Enos Banda – Group board chairman when asked to comment on the matter. 

Banda could not shed much light on the Zambian matter except to state that the court case is “old”. 

Meanwhile Aupa Monyatsi – One of the country’s highly ranked corporate leaders who left the country a few years ago as a banker, has been named the Chief Operating Officer at the troubled pan African financier. 

Monyatsi is largely regarded as a well-rounded and experienced banker, having worked in regional financial services sectors for close to 20 years. 

Before his return to Botswana and subsequent appointment by Letshego, Monyatsi was working for the Absa Barclays Group in South Africa where he has been responsible for leading the team that spearheads and develops the regional bank’s digital innovation and virtual channels.  

Monyatsi’s responsibilities expanded across 12 markets in sub Saharan Africa.  He spent two years traveling between Ghana, Senegal and Nigeria incubating select fintech’s to drive financial inclusion through mobile money, using block chain.  Furthering Aupa’s passion and expertise in fintech development, he spent time in Silicon Valley (USA) and Spain to benchmark global trends in innovation.  Prior to leaving to South Africa, Monyatsi held leadership positions at local banker – Barclays Botswana, now trading as Absa Botswana including Chief Operating Officer and Head of Distribution Channels, with his last role being Acting Managing Director Botswana, before transferring to his group responsibilities at Absa’s regional head office in South Africa.  Monyatsi commenced his career auditing for PWC in Botswana.  Aupa graduated with a Bachelor of Accountancy from the University of Botswana in 2003, participating in numerous specialised executive development programmes thereafter, including courses from Duke University in the (UK).


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