BBS inches closer to banking licence

Eye of the storm: The BBS headquarters in Broadhurst. Shareholders vote next Friday. PIC: MORERI SEJAKGOMO
Eye of the storm: The BBS headquarters in Broadhurst. Shareholders vote next Friday. PIC: MORERI SEJAKGOMO

BBS Ltd has declared a closed period from August 16 to October 15, as it finalises a process with the Bank of Botswana for the issuance of a commercial banking licence.

According to a notice yesterday, during the closed period, members of the board, management, and staff are prohibited from dealing in any manner, directly, or indirectly in the company’s securities.

The latest developments follow a protracted process in which BBS Ltd has undergone legislative and structural changes to prepare for the consideration of its commercial banking licence application by the Bank of Botswana.

Editor's Comment
‘Fake’ drugs: A matter of life, truth and accountability

When claims of such gravity are made, especially by a sitting Assistant Minister they cannot be brushed aside, delayed, or treated as routine political noise. Even the Ombudsman has confirmed receipt of a report from a political party and a review of these complaints is now underway. That is a necessary first step. But it is only the beginning. The seriousness of the allegations demands urgency, transparency and clarity. The public is entitled to...

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