BBS profit drops on subdued housing market

Restrained household incomes have weakened demand for properties
Restrained household incomes have weakened demand for properties

The Botswana Building Society (BBS) reported a 13% fall in profit during the year ended March 31, 2017 amid a challenging economic environment characterised by subdued housing market and squeezed household incomes.

For the twelve months to March 2017, the society earned a profit of P47.9 million, reflecting a 13% decrease from P54.9 million the previous year.

BBS managing director, Pius Molefe said the decline in profit was exacerbated by the fact that the business has a very limited product range compared to its competitors.

Editor's Comment
Prosecutors deserve better

These legal professionals, who are entrusted with upholding the rule of law, face numerous challenges that compromise their ability to effectively carry out their duties.Elsewhere in this edition, we carry a story on the lamentations of the officers of court.The prosecutors have raised a number of concerns, calling for urgent attention from all relevant stakeholders, including the President, Minister of Justice and the Attorney General. Their...

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