Pius Molefe News Today : Breaking News, Live Updates & Top Stories | Vimarsana

STAFF WRITER editors@thepatriot.co.bw The change of the capital structure upon demutualisation of BBS Limited has contributed to its negative performance.

21st April 2021 Botswana Building Society Limited (BBSL) board of directors’ victory was cut short on Monday when the bank’s managing director and board secretary obtained a court ruling that nullified their dismissal, turning a new chapter in what is turning out to be a protracted fight. The Lobatse High Court has ruled that the decision by the BBS board to dismiss the long serving head honcho Pius Molefe and Sipho Showa was invalid as the board meeting was in breach of the company’s constitution. The board which is made up of some of the country’s experienced board members failed to...

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 ...

MANAGING DIRECTOR: Pius Molefe Following the completion and publication of its audited 2019 financial statements, BBS Limited intends to re-file its banking licence application. It has not been a smooth ride for BBS Limited in its bid to convert into a fully-fledged commercial bank following its demutualization in 2017. The demutualization process – voted for by the organisation’s shareholders – meant BBS was converted from a society into a company. The transformation was finally completed in April 2018. BBS Limited hopes to become the first indigenous commercial bank should it a...