Q: Can you describe your journey from your early roles in investment management to becoming the Managing Director of Kgori Capital?
A: My career began as an Accounts Clerk at a small firm, where I worked for about three years. I quickly outgrew the role, which led me to transition into asset management. My journey in the industry started at Investec (now Ninety One) in the early 2000s, where I joined as a Portfolio Administrator. In this role, I gained invaluable experience in the backend operations of fund management. I later advanced to Operations Manager before moving to BIHL as a Unit Trust Manager, where the unit later became BIFM Unit Trusts.
These roles provided me with deep insights into the industry and reinforced my belief that there was a strong opportunity for a locally owned asset management firm. This realisation led me to co-found Kgori Capital (then Afena Capital Botswana) in 2012, with the vision of building a proudly local institution rooted in integrity, client-centricity, and long-term impact. Our goal was to create a firm that not only drives value for clients and the broader economy but also empowers Batswana by upskilling talent and demonstrating that we have the expertise to manage our funds.
As a founding partner, I initially served as Chief Operations Officer, helping to shape the firm’s foundation. As Kgori Capital evolved, I was honoured to be appointed Managing Director by the Board in July 2023. Throughout my journey, I take pride in having contributed to fostering a culture of saving and investing in Botswana—creating financial instruments and an environment that supports financial security and growth for individuals and institutions alike.
Q: What inspired you to co-found Kgori Capital, and how did your vision for a 100 percent Motswana-owned firm shape its early years?
A: The vision of a 100 percent Motswana-owned firm played a crucial role in shaping Kgori Capital’s early years. We were intentional about building a company that aligned with Botswana’s economic development goals by upskilling local professionals and creating investment products that benefited both institutional and retail clients. Establishing a strong governance framework and earning the trust of stakeholders were key priorities, especially in an industry where credibility is paramount.
Despite the challenges of starting from humble beginnings, we remained committed to excellence, ensuring that our investment processes and client service met global standards. This foundation has allowed us to grow and thrive while staying true to our mission of delivering long-term value for our clients and the broader economy.
Q: Kgori Capital started as Afena Capital Botswana before rebranding in 2017. What prompted the shift, and how did it reflect the company’s evolution?
A: The transition to Kgori Capital marked our evolution into a firm with a distinct local identity. The name “Kgori” is inspired by the Kori Bustard, Botswana’s national bird, which symbolises strength, resilience, and grounded leadership—qualities that define our approach to asset management.
Q: Your recent acquisition of a 45 percent stake from Alphonse Ndzinge increased your ownership to 90 percent. What motivated this move, and how do you see it shaping Kgori Capital’s future?
A: The decision was driven by a long-term vision for Kgori Capital’s growth, stability, and strategic direction. As a co-founder, I have always been deeply committed to the firm’s success and its role in shaping Botswana’s asset management industry. This move enabled me to consolidate leadership, ensuring continuity while reinforcing our commitment to a proudly citizen-owned and independent asset manager. Looking ahead, I intend to further diversify Kgori’s shareholder base, with more key team members becoming shareholders as we continue to grow.
Q: What is the most significant achievement Kgori Capital has accomplished under your leadership, and why does it stand out?
A: One of the most significant and humbling achievements has been the unwavering support and dedication of the Kgori Capital team in growing and rebuilding the business, despite past challenges. This stands out as a testament to our resilience, strong governance, and commitment to delivering consistent value.
Q: How does Kgori Capital differentiate itself from other local asset management firms, such as those with international backing?
A: Kgori Capital differentiates itself by offering tailored, client-centric solutions with deep local expertise and flexibility. It affords clients the ability to find the best-fit solution by providing a range of options while emphasising a strong corporate culture, entrepreneurial agility, and a commitment to community impact.
Q: What types of clients does Kgori Capital primarily serve today, and how have those relationships evolved since the firm’s founding in 2012?
A: Kgori Capital began as an institutional-focused business, catering primarily to pension funds and special funds. Over time, we have expanded our reach to serve SMEs, corporates, NGOs, and individuals through a diverse range of products and services. We take pride in having earned the trust of hundreds of retail clients, who have been a cornerstone of our growth since the beginning. As a multi-asset, multi-capable investment manager, we are equipped to craft tailored solutions that meet the unique needs of each client
Q: How has the firm adapted its investment strategies to remain competitive in Botswana’s financial landscape over the past decade?
A: Kgori Capital has adapted by diversifying its investment offerings, expanding from institutional to retail clients, and developing tailored solutions to meet various client needs. We have embraced technology for efficiency, integrated sustainable investment strategies, and remained responsive to market trends, ensuring we stay competitive and deliver value to a diverse client base.
Q: As a Motswana-owned firm, how does Kgori Capital contribute to the local economy and financial empowerment in Botswana?
A: Kgori Capital contributes to the local economy and financial empowerment by creating jobs, supporting local businesses, and investing in community-driven initiatives. We provide accessible investment opportunities to individuals and institutions, helping them build wealth and financial security. Our focus on sustainable investments aligns with national development goals, while our commitment to education and financial literacy empowers clients to make informed decisions, ultimately fostering long-term economic growth and financial inclusion in Botswana.
Q: What role do you see Kgori Capital playing in shaping the future of pension fund management or private client investments in the region?
A: As pioneers, Kgori Capital is focused on transforming the investment industry by offering innovative solutions, including direct offshore investments from Botswana. We are dedicated to creating personalized strategies for both pension funds and private clients, helping make investing more inclusive. With a strong emphasis on responsible investing and financial education, we aim to drive growth and play a key role in the development of Botswana’s investment sector.
