Since day one, I've been changing lives in Botswana, turning dreams into homes and securing futures.
Discover our journey from modest roots to becoming a financial pillar in Botswana.
THREAD š§µ: On a Date with BBS Bank
In 1971, the United Building Society of South Africa (UBS) inaugurated its operations in Botswana.
UBS would later be bundled with other financial institutions in South Africa to become Amalgamated Banks of South Africa (ABSA) Limited,
By 1976, UBS in Botswana underwent a pivotal transformation to become the Botswana Building Society (BBS).
With a renewed mandate, BBS focused on providing essential housing finance, specifically targeting immovable urban property.
This shift aimed to support urban development and address the growing demand for residential housing.
Thereby playing a crucial role in shaping Botswana's urban infrastructure and improving living standards for its citizens.
In 1986, the Building Societies Act was amended to allow BBS to finance property development, even in rural areas.
2017, there was further amendments to the Building Societies Act and Companies Act to enable BBS to apply for a commercial banking licence
In 2022, BBS was granted a commercial banking license by the Bank of Botswana, making it the first indigenous commercial bank.
The bank now offers a broad range of products and services, including:
- Accepting deposits
- Credit creation
- Giving loans
Despite tough competition, BBS Bank has grown customer deposits in Botswana's banking sector through innovative, customer-focused strategies.
This growth allows them to offer affordable loans, supporting both individuals and businesses.
Competitors,
ABSA Bank
Access Bank
Bank Gaborone
Bank of Baroda
First Capital
FNB
Stanbic Bank
Standard Chartered Bank
As a homegrown bank, BBS Bank evokes national pride, fostering customer loyalty and reinforcing its trusted position in the community
Share Price,
0.50 BWP per share as at Oct 2,
0.49 BWP per share on the 3rd of Jan 2024
21st on performance ranking in terms of year to date.
12th most traded stock over the past 3 months to Oct 2, 2024
487,453 total shareholding
Shareholding
Botswana Privatisation Asset Holdings (BPAH), controls 15.07% of BBS Bank,
It is tasked with managing and selling government shares from privatised entities.
BPAH invests these shares wisely and gradually sells them to citizens.
Management
Ms. Pedzani Tafa - Managing Director (MD)
Appointed on January 4, 2023, Ms. Tafa brings over 31 years of experience in commercial banking.
She held senior positions at multiple banks in Botswana, including COO at Botswana Savings Bank,
Each week will be on a Date with a company listed on the @TheOfficialBSE.
The purpose of this thread is to have a minimum appreciation of listed firms.
Disclaimer: Do not misconstrue this thread as investment advise DATE companies before you buy its shares