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Daily Finance News Highlights are a www.hotwireprc.com service to our top clients, with daily alerts on what is making Botswana's finance news. |Source: Hotwire
Finance News (Print)

Finance News 26 April 2020

Summaries of today's leading financial news

By Lorraine Dudu Kinnear


Economy hard hit - Finance Minister Dr Thapelo Matsheka was blunt in his assessment of the economy on Friday – simply declaring that the recently adopted 2020/21 budget has been put aside as the country squarely battled COVID-19 epidemic. (The Patriot on Sunday)

COVID-19 Essentials Supplies Loan -42 companies apply - Citizen-owned companies have responded positively to Citizen Entrepreneurial Development Agency’s (CEDA) loan facility to manufacture essentials needed to combat Covid19 pandemic. (The Patriot on Sunday)

BIC continues fight against COVID- 19 - Short-term insurance giant Botswana Insurance Company (BIC) continues the fight against COVID-19 by contributing towards Botswana Government’s Relief Fund. The much-needed resources will bolster the health sector’s containment strategy. (The Patriot on Sunday)

BSB announces repayment holiday - Botswana Savings Bank (BSB) recognises the financial hardships that customers may be experiencing, due to the effects of the COVID—19 (Coronavirus) Pandemic. In a bid to provide financial relief to its customers, the Bank has introduced key measures. (The Patriot on Sunday)

Stan Chart’s COVID-19 response - Standard Chartered Bank Botswana, as a proud citizen of Botswana and an active member of the Bankers Association of Botswana has committed its support to the fight against the COVID-19 pandemic in Botswana. (The Patriot on Sunday)

Opportunities at the BSE post COVID -19 - The outbreak of the coronavirus, also known as COVID-19, is inarguably becoming the most disruptive crisis the world has ever experienced since the Spanish flu of 1918 which is said to have infected a quarter of the world population at the time. (The Patriot on Sunday)

Covid-19 delays bourse financials - A number of companies listed on the Botswana Stock Exchange which were due to release their audited financial statements have notified shareholders of anticipated delays due to the coronavirus. (Sunday Standard)

COVID-19 spoils bankers party - The country’s local lenders continue to grow their balance sheets, defying the headwinds that have affected other sectors, ramping up on loans in the first month of the year, following the usual tradition of customers replenishing their accounts after festive spending. But the banks will have to adjust their sails this year to weather a storm that has spared no other industry. (Sunday Standard)

After a damper year, Botswana Banks face bleak year - Botswana’s banking sector, largely seen as resilient and at most, lucrative, showed signs of cracks last year after a historic 2018, and growing concerns that current developments this year might widen the cracks. (Sunday Standard)

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