Following his suspension in November 2025 for what the bank referred to as “certain alleged matters currently under review”, Botswana Savings Bank (BSB) CEO Nixon Marumoloa has tendered his resignation with immediate effect.
The bank’s board said it had accepted Marumoloa’s resignation and thanked him for his service during his tenure, without providing reasons for his departure.
Dr Wabo Moswate will continue to serve as Acting CEO in the interim, ensuring continuity in leadership and execution of the bank’s strategy while the board considers a permanent replacement.
The bank sought to reassure stakeholders that operations remain stable, stating it continues to operate in the normal course of business and expects no disruption to services following the leadership change.
Despite receiving a loan of P105 million in 2015 to facilitate the acquisition of a commercial banking license, Botswana Savings Bank has yet to acquire, or even apply for, the license.
According to Marumoloa in the bank's latest annual report, the timeline for the license application and BSB's subsequent transition to a commercial bank is still "unknown".