Finance Ministry 'closely monitoring' BBS saga

Fighting on: Company secretary, Sipho Showa and Molefe are fighting their dismissal from BBS Ltd PIC MORERI SEJAKGOMO
Fighting on: Company secretary, Sipho Showa and Molefe are fighting their dismissal from BBS Ltd PIC MORERI SEJAKGOMO

The Ministry of Finance and Economic Development says it is closely monitoring the developments at BBS Limited and the Bank of Botswana (BoB) is at hand to institute 'response measures' as may be necessary.

In a statement this afternoon, permanent secretary, Wilfred Mandlebe said the board, led by chairperson, Pelani Siwawa-Ndai, has been in constant contact with the ministry and the central bank with reassurances that BBS’ business continued to be conducted in a “safe, sound and prudent manner”. 

“The board has been implored to continue to exercise their duty of care in a diligent and prudent manner, as expected, and to maintain sound banking operations consistent with all applicable laws governing the affairs of BBS Ltd,” Mandlebe said. 

He said through monitoring mechanisms put in place by the BoB, the Ministry was “continuously” being briefed on developments at BBS Ltd. 


Axed managing director, Pius Molefe and the board earlier today locked horns at the Lobatse High Court over an interim order won by the board that pushed out the veteran administrator.

Editor's Comment
Transparency Key In COVID-19 Fight

When the pandemic reached Botswana’s shores last year March, a nation united in the quest to defeat an invisible enemy. It is a moment never witnessed in recent memory, with the catastrophes of the world war and the 1918 Spanish influenza being the only other comparisons in living memory. Botswana, like the rest of the world, had to readjust its priorities and channel most, if not all, of its energies towards fighting COVID-19. It has not been...

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