NDB Takes Drastic Steps To Avert Closure

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National Development Bank (NDB) has retrenched 50 of its staff as part of a turnaround strategy that was adopted by the board late last year.

The rationalisation and optimisation exercise which took six months came in the wake of a radical strategic plan that was meant to drive the bank towards profitability and sustainability.

Last December, the bank parted ways with their staff after failing to sail through the tighter liquidity , low interest rate margins that affected the banking sector. 

Editor's Comment
Diamond deal demands transparency

Instead, it has sparked a storm of accusations, denials, and unresolved questions about the influence of De Beers on the nation’s politics. Former president Mokgweetsi Masisi’s claims that the diamond giants bankrolled his removal to dodge taxes – and that the new Umbrella for Democratic Change (UDC) government watered down a favourable diamond deal – are explosive matters. But without evidence, they risk becoming a toxic distraction from...

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