Online Version

Facebook Feed

  • We must ‘walk the talk’ July 4, 2022
    We can only save ourselves and our planet by confronting climate change BY COLLEN VIXEN KELAPILE Climate change has become the enemy of human progress and a threat to humanity’s survival. We see its devastating consequences daily. No country is […]
  • Makwinja caught in Minergy saga   June 30, 2022
    Her husband –Leonard, is a Board Member at Minergy Coal ‘She is conflicted, hence she is failing to resolve our disputes with the company’ – Farmers ‘It’s an attempt to score cheap political points’ –Makwinja Minergy Coal proposes a […]
  • CA Sales lists on the JSEJune 29, 2022
    african-markets.com The JSE, Africa’s largest stock exchange, has listed CA Sales Holdings Limited on its main board providing South African investors with exposure in the fast-moving consumer goods (FMCG) company with a footprint in several Southern African countries. CA […]
  • BBS launches insurance agencyJune 28, 2022
    BBS Limited is pleased to inform its current and potential customers as well as stakeholders that it has launched an insurance agency called BBS Insurance Agency Limited; whose purpose is to provide insurance agency services and bespoke insurance products […]
  • MANTSWE JOINS TURNSTAR BOARDJune 28, 2022
    Turnstar Holdings Ltd, is pleased to announce the appointment of Mr Solomon Seoketsi Mantswe, to the Board of Directors, with effect from 1st July 2022. He brings over 30 years’ experience in the public service. He was appointed Deputy […]
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Tuesday, July 5, 2022
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

BancABC to list

patriot by patriot
January 17, 2021
in Business
245 7
0
BancABC to list
491
SHARES
1.4k
VIEWS
ShareShareShare

BancABC Botswana Managing Director Kgotso Bannalotlhe his bank’s decision to list on the Botswana Stock Exchange Limited (BSEL) is in line with its strategic focus of consolidating its market position.

He said in a media briefing this week that they invited selected investors to purchase up to 180 525 000 ordinary shares at a cost price of P2 per share.

With the listing on BSEL, Banc ABC looks forward to attaining greater access to efficient capital markets in raising locals to support future growth plans and serve as an opportunity for the Selling Shareholders to monetise part of its sharing holding in the company.

“As the date of our pre-listing statement, the Bookrunner has received Irrevocable Undertakings from institutional investors to purchase up to 138 615 547 offered shares, and firm commitments from institutional investors to purchase up to 10 000 000 shares. These combined commitments represent 82.3% of the offer, subject to the Broker Placing and final allocations of the Offer Shares,’’ revealed the CEO.

Bannalotlhe said listing on BSE is meant to put the bank in a position to attract important stakeholders in Botswana into the shareholding of the company which will serve the long-term interest of the ABCH Group, thus enabling the company to attain greater access to efficient capital markets in raising local funding to support the growth plans.

He said as far as the banking profitability and ranking is concerned in Botswana, Banc ABC is currently the 4th most profitable commercial bank and 5th largest by assets, with a long track record of operating and innovating in the Botswana financial services sector. The bank will officially begin trading on the BSE on December 10, 2018.

Bannalotlhe said the bank has been keen on coming with innovative means of enhancing efficient banking to its clients, hence a portion of the approximately P360 m proceeds from listing on the BSEL will be used to develop and enhance the ABCH Group’s IT Infrastructure and banking platforms.

He said some of the bank’s innovative and technology centred initiatives include migrating onto a common mobile and internet banking platform and the implementation of a centralised Point of Sale (POS) processing platform.

He said the bank has engaged in several efficient partnerships with the government and other important stakeholders in the banking and financial sector, noting that such outcome of the partnership is the launch of Pula Card with the government recently.

Moreover, Bannalotlhe said BancABC also has good partnership in empowering the SMMEs through its financing project, with the bank boosting of over 5,000 active SMMEs clients.

Related

Tags: BancABCbsel

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • We must ‘walk the talk’ July 4, 2022
    We can only save ourselves and our planet by confronting climate change BY COLLEN VIXEN KELAPILE Climate change has become the enemy of human progress and a threat to humanity’s survival. We see its devastating consequences daily. No country is […]
  • Makwinja caught in Minergy saga   June 30, 2022
    Her husband –Leonard, is a Board Member at Minergy Coal ‘She is conflicted, hence she is failing to resolve our disputes with the company’ – Farmers ‘It’s an attempt to score cheap political points’ –Makwinja Minergy Coal proposes a […]
  • CA Sales lists on the JSEJune 29, 2022
    african-markets.com The JSE, Africa’s largest stock exchange, has listed CA Sales Holdings Limited on its main board providing South African investors with exposure in the fast-moving consumer goods (FMCG) company with a footprint in several Southern African countries. CA […]
  • BBS launches insurance agencyJune 28, 2022
    BBS Limited is pleased to inform its current and potential customers as well as stakeholders that it has launched an insurance agency called BBS Insurance Agency Limited; whose purpose is to provide insurance agency services and bespoke insurance products […]
  • MANTSWE JOINS TURNSTAR BOARDJune 28, 2022
    Turnstar Holdings Ltd, is pleased to announce the appointment of Mr Solomon Seoketsi Mantswe, to the Board of Directors, with effect from 1st July 2022. He brings over 30 years’ experience in the public service. He was appointed Deputy […]
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?