🔥 Trending NPF Scandal: Police to Arraign Alleged Fake DG Amidst N1.6 Billion Travel Scam A

The National Petroleum Fund (NPF) scandal is a high-profile corruption and money laundering case in Botswana involving allegations of the misappropriation of approximately P250 million (Botswana Pula) from the National Petroleum Fund ¹⁴. The scandal has drawn significant public and media attention since its details first emerged around 2019 ⁹.

Background and Origins

The NPF is a government fund intended for strategic petroleum reserves and related infrastructure projects in Botswana. The scandal came to light when investigations revealed that substantial amounts of money from the fund were allegedly diverted through various transactions ³¹⁰. The case has been described as one of the "straws that broke the camel's back," contributing to Botswana's grey-listing by the Financial Action Task Force (FAFT) in 2017 due to perceived weaknesses in its legislative frameworks against financial crimes ².

Key Accused Individuals and Entities

The case involves a number of prominent figures and entities, including:

• Bakang Seretse: A local businessman who is a central figure in the allegations. He is accused of purchasing multi-million assets using money from the NPF ³. Seretse and his co-accused face charges related to money laundering and other offenses ⁶⁹¹⁰.
• Kgori Capital: An asset management firm, along with its directors Sharifa Noor and Alphonse Ndzinge, were added to the list of accused persons ¹. While Kgori Capital was initially acquitted by the Court of Appeal on the grounds that benefiting from criminal proceeds differs from engaging in the crime itself, the broader NPF case continues ⁷.
• Isaac Kgosi: The former Director General of the Directorate of Intelligence and Security (DIS), is also among the 18 accused persons facing charges ⁶.
• Kebonang Brothers: Other individuals, including the Kebonang brothers, are also implicated in the case ⁶.
• Former Government Officials: The investigation initially involved fourteen accused individuals, encompassing a broad range of Botswana's business and political elite ⁸.

Allegations and Charges

The Directorate of Public Prosecutions (DPP) alleges that the accused persons worked together in transactions and documentation linked to the case ¹⁰. The charges include:

• Money Laundering: A primary charge against many of the accused ¹⁶.
• Misappropriation of Funds: Allegations center on the illegal diversion of funds from the NPF ³.
• Conspiracy: Accused persons are alleged to have conspired in the transactions ¹⁰.

Authorities are actively seeking to recover the alleged missing funds, which are reported to be part of a larger P450 million NPF scandal ¹⁰.

Legal Proceedings and Developments

The NPF case has been ongoing for several years, with numerous court appearances and developments:

• Court Transfers: The case has been transferred to different courts, including the Extension 2 Magistrate Court ⁶.
• Amended Charge Sheets: State prosecutors, such as Advocate Shaun Abrahams, have amended charge sheets to include more accused persons and expand the scope of the allegations ¹.
• Acquittals and Ongoing Trials: While some entities like Kgori Capital have seen acquittals on specific grounds, the overall NPF case against the individuals continues ⁷. There is speculation that some accused persons might walk free based on legal interpretations, similar to Kgori Capital's acquittal ⁷.
• Public Interest: The case continues to draw significant public and media attention due to its scale and the involvement of prominent figures ⁹.

As of March 2026, Bakang Seretse and his co-accused continue to appear before the Regional Magistrate's Court to face charges related to the scandal ⁹. The State is actively working to recover the alleged missing funds ¹⁰.