Online Version

Facebook Feed

  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Tuesday, May 17, 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

Big step for BBS

patriot by patriot
January 17, 2021
in Business
0
Big step for BBS
491
SHARES
1.4k
VIEWS
ShareShareShare

As Parley approves Bill paving way for commercialisation 

Botswana Building Society’s (BBS) commercialisation process is gaining momentum with Parliament having approved and given thumbs up to the Building Societies (Amendment) Bill to advance the Society’s determinations to turn into the first locally-owned commercial bank.

Presenting the bill at Parliament on Tuesday, Minister Kenneth Matambo said it intends to amend the Building Societies Act, Cap; 42:03 to enable the Botswana Building Society’s shareholder protective cap to be raised from 15% to 25%.

He said this will allow the Society – as a commercial bank – to raise additional capital by allowing existing shareholders who have already bought shares in BBS to the maximum 15% to buy additional shares to support the growth of the new commercial bank.

“In terms of Section 13 of the Banking Act, administered by Bank of Botswana, a bank is required to maintain a minimum capital adequacy (solvency) ratio of at least 15%, calculated as unimpaired capital to total risk – weighted assets,” he charged.

Matambo pointed out that the increase in the BBS protective cap of 15 %to 25% will enable the Society or the new commercial bank to mobilize more capital and thus enabling the bank to meet the capital adequacy requirements of the Banking Act.

Members of Parliament have hailed the commercialisation of BBS as a great milestone as this will mean that the bank becomes the first fully-owned local commercial bank.

Palapye MP Moiseraele Goya said the Bill offers a good space for BBS to realise its commercialisation process implemented with good opportunities for the shareholders and clients at large.

He added that BBS commercialisation will localise services as most of the current existing commercial banks operations are done abroad where the headquarters of the latter are located. “BBS being a local bank will offer better services to its clients and will bring serious competition in the banking sector,” Goya said.

Tati West MP Biki Butale revealed that BBS will stand a great opportunity to turn into a force to reckon with in the banking environment both locally and regionally.

He also noted that the bank’s increment of shareholding rate from 15% to 25% will create more wealth for Botswana and open more viable investment opportunities for the local business community or individuals.

Matambo said BBS’s transformation route into a fully-fledged commercial bank is nearly complete as the banking licence qualification accreditation process will be done in a short period of time. He therefore pleaded with the local companies and parastatals to opt banking with BBS once it acquires commercial bank status.    

Related

Tags: bankingBBS

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

Unsubscribe
  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
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?