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.
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 27 March 2020

Summaries of today's leading financial news

By Tanlume Enyatseng

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BSE in ‘lockdown’ – The Botswana Stock Exchange (BSE) has sent 60% of its staff to work from home and closed off its office to all visitors as part of measures to minimize the risk of coronavirus infection. (Mmegi)

StanChart’s higher profits – Standard Chartered Bank Botswana has advised investors that its pretax profits for the full year ended December 31, 2019 are likely to come in up to P50 million higher than the previous corresponding reporting period. (Mmegi)

BSE stands tall as global markets crumble – The Botswana Stock Exchange’s (BSE) main platform, by Wednesday afternoon, held its position as the world’s only market with positive returns, as the coronavirus continued crushing all other global exchanges. (Mmegi)

BSEL shrugs off COVID-19 … for now – While several stock exchanges around the world have experienced a knock due to the COVID-19 virus, Botswana Stock Exchange Limited (BSEL) has remained steadfast. (The Voice)

Stanbic’s Thingamajig – When Leshman’s Phone (Pty) inked a deal with Stanbic Bank of Botswana to finance the purchase of a 2011 BMW X5 in 2011, it was a typical motor vehicle car loan that any bank can offer. (The Business Weekly and Review )

Severe global recession looms – On Monday, the International Monetary Fund (IMF) convened at the economic solidarity conference hosted by the Vatican that brought together bankers from Group of 20 of the world’s largest economies to address this pandemic that has led to a decline in economic activities. (The Business Weekly and Review )

Bank Gaborone wary of COVID – 19 impact – The COVID 19 pandemic could severely impact operations of Bank Gaborone (BG) as the outbreak makes its presence materially felt on the global economy and global financial markets, the bank’s parent company, Capricorn Group, has announced (The Business Weekly and Review)

Sechaba Profits drop – The board of directors of Sechaba advised that the profits before tax for the year ended 31 December 2019 will be between 10 percent and 15 percent (approximately P22m – 34m) lower than the P224.6m reported for the year ended 31st December 2018 (The Business Weekly and Review)

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