Huge losses for Kingdom Bank depositors
Friday, March 13, 2015
Kingdom Bank is under curatorship for 90 days
The bank, which is currently under curatorship for 90 days, looks set to be liquidated when the temporary management period expires in May.
An inventory of the bank’s assets released by the Bank of Botswana (BoB) on Wednesday, shows that liabilities outweigh assets by as much as $16.7 million (P160 million) with an estimated minimum recovery rate of 12% on deposits.
“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...