Botswana’s leading Security Company, G4S Security Services, Managing Director, Moraki Mokgosana, is resigning from the company’s top post.
In an interview with Sunday Standard, Mokgosana confirmed his resignation and revealed that he will be leaving G4S on the 31st January 2013. He further pointed out that he tendered his resignation in September 2012 and is handing over to the Regional Finance Director, Sean Holmes, who has assumed the post of Acting Managing Director until a replacement has been identified.
Mokgosana said that his main priority, when he got appointed to head G4S as Managing Director, was to continue with the growth of the company and to continue to build effective customer and stakeholder relationships.
“The decision was a difficult one, but I decided that it was a good time for me to pursue other challenges. My departure has been communicated internally and to G4S stakeholders, and the process has been ongoing since November 2012,” said Mokgosana.
He revealed that the company had been faced with escalating costs during times of economic distress. He further said that the unabated fuel escalations do not help much. Mokgosana also stated that the acquisition in 2012 also presented significant challenges for him personally and for the company, as it dragged out longer than they envisaged and diverted a lot of management attention and energy.
Despite the company challenges, the outgoing MD stated that the share split was certainly a landmark. He added that it has improved the tradability of the company shares on the Botswana Stock Exchange and has resulted in an increase in market capitalisation of over 30 percent since the split.
“Also, the conclusion of the Facility Management Group (FMG) transaction, which had been on the cards for over two years, gave the company an opportunity to introduce a new revenue stream that will assist in driving growth,” said Mokgosana.
He pointed out that the company has also placed a lot of emphasis on developing sales and customer service capability, and this has helped in double digit headline growth at a time of significant cost pressures.
He was happy that there have also been a lot of systems integration and governance discussions that will form a platform for long term success.
“The work pressure is a given when you are at the helm of a listed multinational, but I have been blessed with a strong, energetic, talented and supportive team and the board has been extremely supportive,” he said.