Finance News 17 May 2020

COVID-19 – banks in a tight spot – Botswana’s commercial banks will be walking a tight rope this year, balancing the growing appetite for credit against risks posed by the COVID-19 outbreak that has rattled major industries. (Sunday Standard)

BDC buys into Kamoso Africa - Alongside Rand Merchant Bank Ventures (RMBV) and other shareholders, Ninety One, via its Africa Private Equity Fund 2 (91APEF2), has sold a portion of its equity investment in Kamoso Africa (Kamoso) to the Botswana Development Corporation (BDC). (The Patriot on Sunday)

Cutifani presents to Bank of America Conference - Anglo American Chief Executive, Mark Cutifani, early this week presented an overview of how Anglo American is “Delivering through volatile times” at Bank of America’s annual Global Metals, Mining and Steel Conference. (The Patriot on Sunday)

Alexander Forbes Botswana donates P200 000 to COVID-19 relief fund - Alexander Forbes Botswana has donated BWP200 000 in response to the appeal by the Government of Botswana to the private sector, development partners, philanthropists, and individuals to contribute in cash and kind to the Covid-19 Pandemic Relief Fund. (The Patriot on Sunday)

Absa appoints three new Board Members - Absa Bank Botswana Limited has announced the appointment of three Non-executive Directors, Benjamin Monaheng Kodisang, Cosmas Moapare and Sari Helena Nikka as members of the Board of Directors, following regulatory clearance by Bank of Botswana on 23 March 2020. (The Patriot on Sunday)

CEDA unveils informal sector package - Citizen Entrepreneurship Development Agency (CEDA) has launched Letlhabile relief measure –an Informal Sector Stimulation Package to boost the businesses affected by COVID-19. (The Patriot on Sunday)

Cyber Scams in the era of COVID-19 - Botswana like the rest of the world was caught by surprise by the COVID-19 pandemic. The rapid speed at which the coronavirus spreads and the fact that there is yet no vaccine or cure for the disease has meant that the government has had to implement extra ordinary measures to combat it, that include among others, extreme social distancing or lockdown. (The Patriot on Sunday)

Bank Gaborone Ghanzi in Covid-19 Community Assistance - Bank Gaborone, a member of the Capricorn Group, continues its commitment to fighting the COVID-19 pandemic as the Bank’s Ghanzi branch donates to the COVID-19 Treatment Centre. (The Patriot on Sunday)

Managing Credit during Covid 19 - With Botswana slowly starting to ease out of the lockdown, millions of consumers and businesses are still facing some tough financial choices – but it’s vital that people stay in control of their credit through this stressful time. (The Patriot on Sunday)

Finance News 17 May 2020

Lorraine Dudu Kinnear

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