BancABC parent faces liquidation over P110m debt

Officials at the local bank, however, have been quick to disassociate BancABC Botswana from the legal tussle, explaining that the local operations continue as normal with a strong capital position being maintained and robust capital adequacy ratio.

ABCH company secretary, Dorothy Matiza told Mmegi the situation had arisen out of COVID-19’s impact on global financing markets and liquidity. She said this in turn had resulted in delays to ABCH’s strategic fundraising initiatives, necessitating a restructuring of the group’s balance sheet through agreements with creditors.