Sunday, September 25, 2022

Nthebolan gets BDC top job

Cabinet has appointed Maria Nthebolan to replace Ken Matambo as Managing Director of the state investment arm, Botswana Development Corporation.

This brings to an end a long and not entirely tidy recruitment process that was often eclipsed by personal and political considerations.
A blue chip in Botswana Government’s armour of companies, BDC is one of Botswana’s biggest lenders.

The corporation is also often a preferred vehicle used by politicians and their friends to finance and capitalize their companies.
Nthebolan’s appointment comes after a laborious recruiting process that saw divisions in cabinet.

While some powerful interest in cabinet wanted Thapelo Matsheka, the current Chief Executive of CEDA, the Ministry of Finance, which ultimately had to make recommendations to cabinet, favoured Nthebolan.

Information reaching Sunday Standard is that the Ministry of Finance preferred Nthebolan who was the second choice on the grounds that she was well grounded in investment banking.

Sunday Standard has it on good record that this is despite the fact that Dr. Matsheka had scored higher points during the interview.

Sunday Standard can also confirm that there has been a lot of behind the scenes lobbying, with some interests trying to use Matsheka’s independent minded streak against him.

It has also resurfaced that during the interview sessions, some detractors were quick to remind the interviewing panel that two years ago the former Economics Lecturer at the University of Botswana had long tussles with his supervisors at the Ministry of Finance ÔÇô a difficult relationship that saw the ministry only grudgingly extend his term by two years.


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