It is with great pleasure and jubilation to inform you that, after a year-long battle with the Botswana authorities, regarding the freezing of bank accounts belonging to Khato Civils Botswana and our Executive Chairman, Mr. Simbi Phiri, the court has ruled that all the accounts in question be unfrozen with immediate effect. This judgement was delivered in the Botswana High Court in Lobatse on the 7th of September 2017.
During July 2016, the Botswana’s anti-corruption unit, the Directorate on Corruption and Economic Crime (DCEC) obtained an order that froze all Bank accounts belonging to Khato Civils Botswana and Mr. Simbi Phiri. They made an allegation that the funds were proceeds of crime and money laundering but failed to prove that theory.
These allegations resulted in our company and Mr. Simbi Phiri in particular, suffering aggressive prejudice from negative media publicity, as a result of the restraining order, with such media publication accusing him of money laundering without proof thereof. It is a well-known fact that Khato Holding and its subsidiaries are doing work on behalf of government and therefore income generated is derived from these projects and no other source of income. The money transferred to Botswana was done over a long period and this was done via the approved agency called Forex World and at no stage did Khato Civils and Mr. Phiri commit any crime.
This judgement has vindicated Khato Civils and Mr. Phiri who has been labelled a criminal, and called by various names including smear campaign in the media where it was reported that he was found with money in the boot of his car.
Our focus is to build and strengthen Khato Holding and its subsidiaries and drive our goal of increasing our footpath in the continent including the Republic of Botswana. We remain committed to clean governance principles and determined to build and expand our operation throughout the continent. On behalf of the Management and Directors of the companies I wish to extend our heartfelt gratitude to all members of staff for their unwavering support and dedication. Our resolute drive will now go towards securing more work and deliver quality services and products as required by our clients.