More than 80% of shareholders at Botswana Telecommunications Limited’s (BTCL) Annual General Meeting on 23 September 2025 voted against proposed retainer pay for the company’s directors in the coming year.
According to a communique on the Botswana Stock Exchange, BTC shareholders representing 659,528,406 shares—about 63% of all BTL shares—attended the meeting in person or by proxy.
The proposal had suggested a retainer of P100,000 for the board chair and P80,000 for other board members. Sitting allowances were to stay the same: P19,000 for the chair, P15,000 for committee chairs, and P13,000 for board members. Shareholders did approve last year’s director pay for the year ended 31 March 2025, though over 18% had voted against it.
At the same meeting, several Independent Non-Executive Directors retired from the BTCL Board, effective 23 September 2025: Mr Mokgethi F. Magapa, who had also been Board Chairperson, Mr Bafana Molomo, and Mr Ranjith Priyalal De Silva. Following Mr Magapa’s retirement, the Board appointed Mr Thato Kewakae as interim Board Chairperson, effective the same day. Mr Kewakae has been an independent non-executive director since 2021 and brings broad experience in business and ICT, with roles across private sector growth, consultancy, and government support services.
Additionally, Mr Kgotso Bannalotlhe was appointed as a Non-Executive Director, and shareholders ratified the appointment of Mr Jürgen Peschel as Chief Executive Officer (CEO) and Executive Director.
