BoB takes over Kingdom bank

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The Bank of Botswana (BoB) on Friday took over management of troubled offshore bank, Kingdom Bank Africa Limited (KBAL).

The bank is reeling from liquidity constraints, which have seen depositors fail to withdraw their monies while workers haven’t received regular salaries for the past three months.

In a statement released on Friday, the central bank announced that they had assumed temporary management of KBAL “Customers of KBAL are informed that during the temporary management period, the operations of KBAL will only be restricted to receiving repayments of loans and advances made to customers.

Editor's Comment
GBV: The big elephant in the room

Sadly, the country seems not to have proper tools and the extent to which women and the girl-child are being abused is not adequately measured.Almost every week there are reports of women being attacked by their significant others and while men are attacked as well, women seem to be more on the receiving end.On May 24, 2023 news broke that a woman who was receiving support from the Botswana Gender-Based Violence Prevention Centre in Gaborone, was...

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