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
Oh what a State funeral!

That rare sight deserves heartfelt praise, not only for President Duma Boko and his administration, but also for the Botswana Democratic Party (BDP), the Umbrella for Democratic Change (UDC), the Mogae family, and the entire country.President Boko’s decision to grant a full state funeral to a man who belonged to a rival party was a mark of true statesmanship. He recognised that national leadership carries a weight that belongs to the whole...

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