FNB CEO declined Barclays top job

The search for the substantive Managing Director of Barclays Botswana is still on after the bank failed to secure the services of a potential candidate identified late last year.  

A response from the Acting Head of Corporate Affairs, Grace Mosinyi suggests that the bank’s efforts to get a substantive MD following interviews that the bank undertook a snag, and the hunt still goes on. “The recruitment of the substantive Managing Director for Barclays Bank of Botswana remains open until an announcement is made. In the meantime, Aupa Monyatsi continues as the interim MD,” said Mosinyi. In March this newspaper revealed that three potential candidates were shortlisted for a replacement of the substantive MD.

The post has been vacant for 15 months since the unceremonious departure of Wilfred Mpai who was the third Motswana to manage the largest listed bank after the late Duncan Mlazie and Thulisizwe Johnson. Botswana Guardian has been informed that the bank agents have been conducting interviews over the past months in which four candidates (three women and incumbent Barclays Acting Managing Director) allegedly made it into the final list. It is said that the current First National Bank of Botswana (FNBB) MD Lorato Edith Boakgomo- Ntakwana had the nod among those interviewed. However, Botswana Guardian is reliably informed that Boakgomo - Ntakwana has declined the offer, as her employers could not afford to lose a quality employee of her calibre.

The vacancy of the position has somehow led to the clash between new partners, ABSA of South Africa who have increased their shares from 55 percent to 65 percent and will manage the continental bank under the banner of Barclays Africa. If ABSA had their way, they would have either brought their preferred choice from abroad or asked Barclays Plc to second a suitable replacement. But, that could not happen because local politics and the banking supervision rules discourage local commercial banks from employing non-citizens as MD. Monyatsi was viewed as the frontrunner, but ABSA allegedly felt that it would be in the best interest of all stakeholders to delay his takeover and rather redeploy him to South Africa to take care of Corporate Banking. ABSA is allegedly delaying Monyatsi’s takeover on allegations that he is tainted by his association with the past executive management led by Mpai.

For that reason, Monyatsi will be redeployed to South Africa as regional office manager and will oversee 12 countries specifically in charge of corporate banking, but those in the know say his appointment remain a subject of further discussion. It still remains to be seen if Monyatsi will go or will be given the position in the event that a suitable candidate is not identified. It is understood that Barclays Plc has directed the Board to ensure that the substantive MD must be a person of integrity and preferably a woman.