The Directors of Kgori Capital left the Lobatse High Court beaming with smiles on Friday after Justice Abednigo Tafa discharged a restraining of property order that he had granted against the now popular asset management company. The restraining order was issued in favour of the Directorate of Public Prosecutions (DPP) on 16 February 2018 following disagreements in management fees charged to the National Petroleum Fund (NPF) by Kgori Capital.
The High Court had put on hold the amount of 15million Pula standing to the credit of Investment Account number 3000448474-INV held by Kgori Capital with Bank Gaborone. Kgori Capital however, through their attorney Busang Manewe, successfully challenged the order on Friday. The High Court ruled that it was agreed that each party shall bear its own costs.
Kgori Capital lawyers have since written to Bank Gaborone advising them of the new court order. ‘‘Kindly but urgently ‘unfreeze’ the account with immediate effect so that client may have access to it’’, reads the letter from the law firm Bogopa,Manewe,Tobedza & Co. For his part, Kgori Capital Managing Director Alphonse Ndzinge expressed that they are grateful to have the matter behind them as they believe it is important to fight for what is right. ‘‘As a team, we will continue passionately looking after our proudly Botswana business and focus all our efforts on our sole mandate of prudently managing valued client funds’’, he said in a statement on Monday.