Molefe, Showa back at BBS following court ruling

The BBS Limited managing director Pius Molefe and board secretary Sipho Showa are back at the bank after a High Court ruling that their dismissals did not follow due process. The duo were recently dismissed by the board chaired by Pelani Siwawa-Ndai which Molefe said he sensed sinister motives ahead of the society’s annual general meeting that had an agenda item to elect new non-executive directors.

Molefe and Showa then through their attorney Mboki Chilisa challenged their dismissals in court which they successfully overturned. According to the Daily News, Justice Tebogo Tau ruled that the board meeting of April 5, which took the decision to dismiss Molefe and Showa, was not held in accordance with BBS Limited constitution thus rendering its decisions null and void.

In a statement to shareholders, depositors and stakeholders following the court ruling, Molefe said he and Showa were back at work. “On Monday 19 April 2021 the High Court of the Republic of Botswana sitting in Lobatse discharged the temporary order it had granted the BBS Limited Board on Friday 09 April 2021 whose effect was, amongst others, to bar myself as the Managing Director of BBS Limited and the Company Secretary Mr. Sipho H. Showa from executing our duties. Nonetheless, following the decision of the High Court yesterday, I would like to advise you formally that we are back at work,” Molefe said.

 He added that the effect of the High Court judgement is that the meeting convened by the BBS Limited Board on Easter Monday, 05 April 2021, to resolve on the dismissals was a non-event as it was not properly called in line with the BBS Limited constitution. Therefore, any decisions arising from the alleged meeting are as good as being non-existent, he said. 

“As Managing Director of BBS Limited, it had been my intention yesterday following the High Court Order, to reach out to my fellow Board Members to request for calm minds and emotions to prevail leading to the 2020 Annual General Meeting next week Friday 30 April 2021,” Molefe said in the statement.

“Unfortunately, I was disappointed when I received a draft document from the Chairperson of the Board Mrs. Pelani Siwawa-Ndai just before 12 noon via WhatsApp to the effect that she and my other colleagues would be approving a resolution by round-robin to dismiss me and the Company Secretary from office again without giving us a hearing as stipulated in the BBS Limited Conditions of Service.”

Molefe said he immediately proceeded to the Industrial Court in his capacity as Managing Director where he managed to secure an Interim Order barring fellow Directors from executing their plan. 

“Despite yesterday afternoon’s developments, I am still keen to find a way of reaching out to fellow Board Members so that we can all act in the best interests of BBSL Limited even though 5 of them are left with 6 days to the end of their terms.” 

“Lastly, the Management team is hard at work and preparing for the 2020 Annual General Meeting on Friday 30 April 2021. Management is encouraged by the support it is receiving from Shareholders and other concerned parties during this period.”