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BBS expects commercial banking launch by June 2023

Friday, October 07, 2022 | 130 Views |

Shifting gears: BBS Ltd expects to become a commercial bank next year

BBS Ltd expects to start commercial banking activities in the first half of next year, becoming the country’s first indigenous player in a market dominated by foreign-linked entities.

In a statement accompanying the group’s results for the half year ended June 30, directors said BBS Ltd was finalising approval of its commercial banking licence with the Bank of Botswana (BoB).

The group previously declared a closed period from August 16 to October 15, during which members of the board, management, and staff were prohibited from dealing with BBS shares in any manner, as part of the process towards a commercial banking licence.

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