Finance News 15 March 2020

Summaries of today's leading financial news
Finance News 15 March 2020
Daily Finance News Highlights are a service to our top clients, with daily alerts on what is making Botswana's finance news. Source: Hotwire

Absa allays jobs fears – Scores of employees at Absa Bank, formerly Barclays, are expected to lose jobs as the bank is expected to lay off most of its staff members next month as part of its transformation. (Sunday Standard)

BoB should provide clarity on how it intends to cushion the economy in case of Virus attack - Botswana's economy, like the rest of the world finds itself facing the worst crisis since the global crisis that started in 2008. (Sunday Standard)

An industry reels in shock as African Alliance takes BPOPF head-on – Barely a year after BPOPF pulled the trigger, the whole thing has become irreversibly messy, with the regulator NBFIRA dragged into the standoff and all sorts of insinuations and aspersions cast its neutrality. (Sunday Standard)

BIHL posts stronger profits – Botswana Insurance Holdings Limited (BIHL) profit has improved after being largely assisted by its non-core businesses as the insurance giant faces stiff competition from a shrinking market. (Sunday Standard)

BIHL core earnings up 7% – Blue-chip insurance company Botswana Insurance Holdings Limited (BIHL) recorded slow growth for the year ended December 2019, achieving a flat operating profit of P376 million compared to P375 million in 2018. (The Patriot)

Absa profits – The Board of the Company therefore hereby advises shareholders that the Company's results for the full year ended 31 December 2019 will be higher than those reported for the period ended 31 December. (The Patriot)

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