Barclays MD in P2.5m payout

Barclays Bank Botswana has paid over P5 million to its directors for the year to 31 December 2015, according to the bank’s latest annual report released this week. In total, Barclays – one the leading companies on the Botswana Stock Exchange (BSE) – paid its directors a sum of P5, 261, 750 for their various roles. Seven directors were remunerated for the period with the Managing Director, Reinette van der Merwe pocketing P2.5 million as executive remuneration, meaning that she earns above P200, 000 per month – making her one of the highest paid executives among the listed companies. Lipalesa Makepe – who resigned from her role as the Finance Director in August 2015 – took home a cheque of P700, 000 while her successor Mumba Kalifungwa was rewarded with a pay cheque of P667, 000 as executive fee. Barclays Chairman, Rizwan Desai who also sits on the Risk Committee and Human Resource and Remuneration Committee was paid a total of P571, 250 with half a million being for the board responsibilities while P65, 000 and P6, 250 are for the two committees that he sits in respectively. Kenneth Molosi, who serves in the Barclays board of directors as an…