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StanChart continues to explore sale of retail operations

Standard House. PIC MORERI SEJAKGOMO
Standard House. PIC MORERI SEJAKGOMO

Standard Chartered Bank Botswana (SCBB) has announced that it is still exploring options for the sale of its Wealth and Retail Banking (WRB) division.

In a statement released to shareholders and the market on the Botswana Stock Exchange website, the bank reiterated its earlier cautionary announcements, first issued on November 27, 2024, that the potential sale could have a material impact on the company's share price.

"Shareholders and the investing public are urged to continue exercising caution and to consult their financial advisors when dealing in the company's securities until a full announcement is made," read the statement.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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