BBS Limited Board chairperson speaks
Breaking News
The board of directors of Botswana Building Society Limited (BBSL or the Company) (the board) notes that an attempt to remove founding directors of the company who were only appointed in 2018, have served one term, and are due for second term is an unlawful attempted capture of the company and onslaught of corporate governance which goes against shareholder interests as outlined by BBSL’s constitution.
The current corporate governance onslaught by the suspended Managing Director and Company Secretary Messrs Molefe and Showa was preceded and triggered by board’s yearlong attempt to assign a COO position after a lengthy benchmarking exercise in the region and internationally as part of the company’s transition to a commercial bank. Molefe has been at the helm for 27 years the board notes.