Ordinary Shareholders' Rights Protection in Boltswana

This study seeks to understand institutional frameworks that exist in Botswana to protect the rights of ordinary shareholders. There is no literature on the subject matter in the context of Botswana; hence this study attempts to fill in the literature gap. The study uses a variety of data collection methods, such as semi-structured interviews, the Choppies case study and lessons learnt from other jurisdictions. Findings reveal that ordinary shareholders’ rights protection involves the use of institutional frameworks. In Botswana, existing frameworks are not adequate to protect ordinary shareholders’ rights. Implementation and enforcement of legal and regulatory instruments in Botswana is weak. Furthermore, the study observed that lack of adherence to corporate governance standards created room for the expropriation of ordinary shareholders of Choppies. Learning from other jurisdictions, the study suggests a review of the institutional frameworks in Botswana with an aim to protect shareholders’ rights, more especially the ordinary shareholders’ rights.