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Botswana High Court hears EUR500 million dispute involving Alithea Investment and First National Bank Botswana

A legal dispute is unfolding in the Gaborone High Court as Alithea Investment Pty Ltd, a Botswana-registered company with Mauritian origins, accuses First National Bank Botswana FNBB of failing to account for EUR500 million. This amount, approximately P7.8 billion, was allegedly transferred through the international SWIFT payment system. Alithea Investments claims the funds were remitted via Deutsche Bank AG Frankfurt as part of an investment initiative related to Botswana's Economic Transformation Programme BETP, following discussions with the Minister of International Relations, Dr Phenyo Butale. The investor is seeking court intervention, regulatory scrutiny, and international assistance to trace the funds, placing Botswana's banking sector in an unprecedented situation.