Following the market loss of confidence in Fleming and the need to restructure the asset management firm, the new shareholders have announced that they have entered into a technical and strategic partnership agreement with Ndaba Gaolathe.
Gaolathe is also a Member of Parliament and also Deputy Leader of the Umbrella for Democratic Change.
According to Gaolathe he has voluntarily declared these interests to the Speaker of National Assembly, Gladys Kokorwe.
He said his new relationship will not affect his relationship or commitment to either UDC, Botswana Movement for Democracy or constituency work.
According to Gaolathe he will be assisting the firm revise investment processes, and establish an environment conducive to the assembling of the best investment technical team on the continent and bring out the best in them.
The firm hopes that Gaolathe will tap on his relationships in international financial circles to sustain existing strategic relationships with first-tier investment firms and find new ones, to “expand Fleming’s access to international financial instruments and tools. Gaolathe will also assist Fleming pursue its global aspirations by establishing client networks outside Botswana.”
Ndaba Gaolathe has degrees in Mathematics and Economics.
He is also a graduate of the Wharton School, where he earned an MBA in Finance. He has worked in various capacities including CEO of a private equity firm, and consulted widely in strategy, finance, management and restructuring across sectors and geographies.
He maintains other professional engagements in various capacities including as partner in Dabo Properties, Director in Potje (the strategy he founded), Trustee of Ndaba Gaolathe Foundation and many other community engagements, none of which interfere with his public roles because of this professionalism.
“I will from time to time engage in professional activities, all which are voluntarily declared to the Speaker of Parliament, and which activities form part of my grander vision of developing world class talent in Botswana, and showing that Botswana can build institutions with global reach and which can generate thousands of employment and investment opportunities for ordinary citizens,” said Gaolathe.