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BBS expects commercial banking launch by June 2023

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

Editor's Comment
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

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