Stanchart forecast higher propfits
Monday, July 14, 2014
In a statement to the Botswana Stock Exchange, the bank said that the higher earnings will be a result of receipt of revenue originally budgeted for later in the year. As a result the bank has advised its shareholders to exercise caution when dealing in the securities of the company until the results are announced.
The bank expects the performance trajectory to normalise by the end of the year. In the year ended December 2013, the bank’s revenue passed the P1billion mark to deliver double-digit profit after tax growth of 15 percent over 2012.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....