Finance Ministry 'closely monitoring' BBS saga

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.