Shareholders, Investors, Stakeholders and the Public are informed that BBS Bank received its Certificate of Incorporation on Thursday 26 April 2018 from the Companies and Intellectual Property Authority (“CIPA”) and is now known as “BBS Limited”. Therefore, BBS is now a company not a building society. Consequently, the “BBS” in “BBS Limited’” no longer means “Botswana Building Society” but denotes the historical origins of the business so that the goodwill it built over the years is not lost going forward.Commenting on the latest development, the BBS Bank Managing Director Mr. Pius Komane Molefe said that “I am pleased with the progress we are making towards BBS bank being Botswana’s first indigenous commercial bank. As we have previously stated, BBS can only apply for a banking license when it is a company. Preparation of the banking license application is ongoing and we will lodge it with the Bank of Botswana at the appropriate time. Therefore, until BBS Bank receives the banking license, it will be operating as a company but carrying out the business of a building society as permitted by relevant legislation”.
Lastly, all are assured that the business of BBS Bank, as carried over from BBS Bank, continues as normal including pre-existing products, services, contracts and other arrangements.
Thank you.
