Gaborone investment firm accuses council of hiding its assets
By the AFREEQUE newsroom, based on Weekend Post
Gaborone’s city investment company (GCIC) accuses municipal officials of withholding asset registers and leases, hindering reforms aimed at cleaning up the capital’s finances. GCIC chief executive Kabo Bruno Moitoi has approached the Presidential Projects Office, citing a network involving officials and a minister, according to Weekend Post.
The Gaborone City Investment Company (GCIC), the investment company of Gaborone created to improve the finances of the Botswana capital, accuses city council officials of withholding asset registers, leases and revenue data. Its chief executive, Kabo Bruno Moitoi, has asked the Presidential Projects Office to impose full disclosure of the council’s accounts, according to Weekend Post.
GCIC also says council-approved reforms are being blocked and that a governance failure is resulting in losses of public funds. The company is calling for responsibility to be established where acts, omissions or decisions may have caused financial harm to the city council, the government or the public interest, according to Kabo Bruno Moitoi’s letter.
The dispute concerns in particular the management of assets and land belonging to the Gaborone City Council, which GCIC is expected to operate to generate revenue. The company says outdoor advertising revenue within the council’s jurisdiction could exceed 80 million pula a year, while municipal billing has remained below 2 million pula and collections at an even lower level, according to Weekend Post.
GCIC was established in July 2025 following a city council resolution. The company says political officials, council employees and a minister are obstructing its efforts to take control of municipal assets, an allegation reported by Weekend Post.
