BDC is aware of the social media allegations and a voice note circulating made on its shareholding structure as well as its partnership with Kamoso Africa Group, which we deem to be uninformed and inaccurate.

The post refers to MediLand (a subsidiary of Kamoso Africa) and suggests that by BDC’s shareholding in Kamoso Africa, and with the Honourable Minister of Investment, Trade and Industry – Peggy Serame and other officials names appearing on the BDC shareholder register; that the minister influenced giving MediLand possible unfair advantage in securing a contract to supply ARVs to the Botswana Government, for personal financial gain as a result of the relationship between BDC and Kamoso Africa.

BDC is a wholly-owned entity by the Government of Botswana, which was set up to drive the economic development of the country. Ministers under their offices hold shares in trust, on behalf of the Government in entities such as the Botswana Development Corporation. Their names appear on the company registers where Government must appear as they act as nominee shareholders on behalf of the Government of Botswana, which has the beneficial ownership of those shares. As such Honourable Minister Peggy Serame and the other listed Government officials, perform their duties on behalf of the shareholder being the Government of Botswana. In that regard, the nominee shareholders do not derive any financial benefit as the beneficial ownership accrues to the Government of Botswana.

BDC is an investment arm of the Government of Botswana and is solely mandated to finance commercially viable projects within Botswana and internationally. In an effort to diversify its portfolio, BDC recently acquired a 24% stake in Kamoso Africa Group. Along with other shareholders, BDC is represented on the Board of Kamoso Africa Group .In strict adherence to good corporate governance, the Corporation and its shareholders set the strategic direction of the Group and are not involved in the day to day running of the business as that is a preserve of the Group’s management team.

Kamoso is a leading manufacturer in Botswana and presents an attractive growth opportunity in the Manufacturing of Fast‐Moving Consumer Goods ("FMCG"). It also plays a unique and valuable role in shaping Botswana's evolving economy, and currently employs over 1200 Batswana across its different operations.