Botswana, Moz may clash over war plan
Breaking News
Mozambique is bound to reject President Dr Mokgweetsi Masisi and Southern African Development Community (SADC)’s military and logistical recommendations to the peace and security crisis in Cabo Delgado, military experts have warned.
Masisi was expected to travel to Maputo this week for a SADC Heads of State meeting, at which he was to put forward SADC’s military and logistical response to the ongoing terrorist attacks in Mozambique, Cabo Delgado, a trip that failed to materialise on COVID-19 protocol challenges.
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BBS Limited Board chairperson speaks
Breaking News
The board of directors of Botswana Building Society Limited (BBSL or the Company) (the board) notes that an attempt to remove founding directors of the company who were only appointed in 2018, have served one term, and are due for second term is an unlawful attempted capture of the company and onslaught of corporate governance which goes against shareholder interests as outlined by BBSL’s constitution.
The current corporate governance onslaught by the suspended Managing Director and Company Secretary Messrs Molefe and Showa was preceded and triggered by board’s yearlong attempt to assign a COO position after a lengthy benchmarking exercise in the region and internationally as part of the company’s transition to a commercial bank. Molefe has been at the helm for 27 years the board notes.
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19th April 2021
The embattled commercial bank to be – BBS Limited ended the week on a positive note as the local bourse lifted the suspension of the trading of its securities.
Botswana Stock Exchange Chief Executive – Thapelo Tsheole said on Thursday that the halt on trading of the BBS equity securities registered on the BSE Serala OTC board and the suspension of the trading of the BBS005 Bonds effected on 07 April 2021 has been lifted. The suspension came as result of a brawl between the board and part of the former executive management. The BBS Limited board of directors this past week prevailed in firing two of its executive senior managers in a one-week tense drama that saw the managers defying the board, and the regulators coming in swiftly to control the situation before it spiralled in another corporate scandal.
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