- Significant funds were consistently being advanced to related entities
- Advances would later be impaired in the books of Mupane
Cracks that led to the collapse of Botswana’s only gold mine are beginning to emerge. Once touted as a key contributor to the country’s mineral portfolio, Mupane Gold Mine is now in liquidation.
Court records show that although Mupane generated positive operating cash flows over the years, it was consistently drained of financial lifeblood through questionable transactions with related parties. Funds meant to sustain operations, meet regulatory obligations, and pay creditors were regularly advanced to affiliated entities, raising red flags about governance and financial prudence.
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