Botswana Building Society (“BBS”), led by its Managing Director Mr. Pius Komane Molefe, has been consulting Members across the country on the plan to commercialise BBS.
Subscription Shares Account
Who can invest in Subscription Shares (Sub Shares?
Individuals over the age of 16, as well as associations, clubs, certain trusts and similar bodies are eligible to invest in the sub shares . Subscription Shares are particularly recommended as a method of saving for a specific objective through easy monthly subscriptions.
Features & Benefits
You can invest any fixed monthly sum you choose, from P100 upwards, to a maximum of paid-up value not exceeding P1 million per account, excluding dividends.
You choose the investment period - from 36 to 300 months.
Your money grows quickly because Subscription Shares earn handsome dividends completely free of tax. Dividends are paid in March each year.
At the discretion of the Society, shares may be redeemed prior to maturity subject to three months’ notice. Because of the nature of the account you are not, however, permitted to make partial redemptions. In an emergency, they can be used as security for loans of up to 75% of their value.
They can also be used as collateral. They can be redeemed immediately in the event of death of the shareholder. An Example: If you invest P100 a month for a period of three years, your subscriptions alone will amount to P3600 and handsome tax-free dividends will make your nest-egg bigger.
Interest paid is 3.50% annually