Banks can weather the storm � Union

Keabetswe
Keabetswe

Local commercial banks are positioned to turn things around for the better of their businesses without the need for headcount reductions, says the Botswana Bank Employees Union (BOBEU).

Speaking to Mmegi Business, BOBEU general secretary, Lebogang Keabetswe said while they believe they can collectively weather the storm in the banking sector with the dedication of the employees, some banks are already looking for an easier way out.

“They find reduction of headcount as essentially the easiest variable cost to get rid of,” she said.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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