G4S Botswana has announced the resignation of Managing Director Mothusi Molokomme, effective from February 3rd 2025. He will serve a 3-month notice period and will exit on April 30th.
He was appointed Managing Director of G4S Botswana on March 1st 2021.
"[Mr Molokomme] successfully steered the company through a challenging trading period of unprecedented security risks, legislative changes and a post-COVID economic downturn. The G4S Botswana Board and staff would like to thank Mr Molokomme for his valuable contribution and leadership and wish him well in his future endeavors," G4S said.
In its latest annual financial results released last year, G4S recorded a P11 million loss per its financial results for the year ended 31 December 2023, with the company bemoaning the government's decision to use citizen-owned security companies for guarding services as a contributor to sluggish revenue growth.
However, according to its financial results, the company's loss was mostly its own doing. G4S incurred a 9% increase in administrative expenses due to a penalty for paying its P3.2 million VAT late which shot up audit cost overruns.