Kgori Insights – Quarter ended June 2019

August 29

Before I unpack some of this further, and indeed speak more to both the current and the future of our proudly Botswana business,I want to thank you on behalf of our team. It goes without saying that despite many positive developments in the last 18 months, we have weathered the proverbial and literal storm.

On the 26th of July 2019, we welcomed the ruling by the Court of Appeal (COA) with respect to frozen Kgori Capital funds at the request of the Directorate of Public Prosecutions (DPP) in 2018, disputing management fees owed to Kgori Capital.

The ruling was made in favour of Kgori Capital and, resulting in Kgori Capital being wholly exonerated of any assertions or allegations in the management of NPF funds. Not only is this a testament to the resolve and patience of our team in fighting for what is right, but it shed great light on the immense support structure and loyalty inherent in the many colleagues, clients, partners, friends and stakeholders of our business. The response from all has been heart-warming and indeed overwhelming!

We often talk of Kgori PRIDE, a moniker that speaks to the embodiment of our Company Values – Passion, Reliability, Integrity, Dynamism,and Excellence. In this period, however, what emerged true and unshakeable was a new connotation of that PRIDE. The Kgori Capital PRIDE we have witnessed in this time is also the veritable strength and unity amongst our stakeholders and those who matter most to us, both internal and external, like a pride of lions – strong, united, skilled, fearless, and bold in the pursuit of what is important to us. Thank you forbeing part of our PRIDE.

With that, I am excited that we now usher in a new chapter, putting behind this period and choosing to learn and grow from it.Q2 has seen a number of other developments and activities worth noting. This includes, but is not limited to:

  • Living true to our Kgori PRIDE Values in all that we do;
  • Focusing on further positioning our business and our team as a centre for Excellence and industry leadership;
  • Continued efforts to enhance our Governance and Compliance in line with best practice and the belief that we can always do better;
  • Our Managing Director, Alphonse Ndzinge, on a panel discussion at the BSE Responsible Investing and ESG Workshop; and
  • Continued education and engagement around our Unit Trusts offering in the market.

Kgori Capital continues to be cited for market and industry expert commentary and education, both in the public domain as well as privately. We continue to passionately perform our services with the outlook of creating the utmost value for our stakeholders, and work to make a meaningful and sustainable contribution to the growth of our sector and our Nation. Kgori Capital remains a proudly Botswana business with its focus centred on serving our clients with PRIDE as a leading investment management firm.

I hope you enjoy the latest edition of our Kgori Capital Insights, and we welcome any and all feedback you may have. Thank you once again for being a part of PRIDE, and a part of our journey to date. We are excited to enter this next, truly exciting chapter, with you. Indeed, in this issue we share some of what is now already in motion!

Best,
Kennedy Melamu
Chairman

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