Monday, July 22, 2024

Masupe to step into Lekaukau’s bank boots

Latest information is that Standard Chartered Bank Botswana (SCBB) is gearing up to usher in its Chief Financial Officer (CFO)  Mpho Masupe as the acting chief executive to replace Moatlhodi Lekaukau who will be stepping down in two weeks’ time.

Masupe is the CFO for the bank where he is responsible for the overall financial management of SCBB’s operations whilst partnering with the businesses to ensure that the country meets its budget targets and is positioned for long term growth.

He is a seasoned professional with over 18 years experience in mining Finance at Debswana Diamond Co. and Morupule Colliery. He has held senior positions in Botswana’s premier organisations where he has headed both business and finance departments during a career spanning 22 years.  

Recently the bank’s Chairman of Board of Directors Bojosi Otlhogile said the outgoing Lekaukau had successfully guided the company through the difficult business environment of recent years, maintaining a strong balance sheet and ensuring a balance between investment and returns to shareholders.  

Otlhogile further stated that among his most notable achievements was seeing the bank realise over P1 billion in operating income for the first time in its history, the localisation of the executive committee in Botswana, the establishment of the Standard Chartered Education Trust and the US$100-million secured invoice financing facility agreement with Okavango Diamond Company.

Meanwhile, the bank recently advised shareholders that the consolidated results of the company for the year ended December 31, 2016 would be significantly higher than those reported for the same period in 2015. 

A look into SCBB traded share price at the Botswana Stock Exchange indicates that at the beginning of January 2016, the bank’s stock price was at 1 120 Thebe, closing the year at 775 Thebe. It further dropped to 760 Thebe at the beginning of 2017. 


Read this week's paper