Call for legislative review to nurture indigenous banks

Friday, March 03, 2017

Members of Parliament have called on the Ministry of Finance and Economic Development to set up new legislation through advice from the Bank of Botswana (BoB) to establish a second tier banking system in the country that encourages the establishment of an indigenous bank.

Responding during the ministry’s budget proposal this week, Minister Kenneth Matambo promised to consider the advice.

“We can look at it but I don’t think what is required by BoB is unreasonable, for example, I do not think the P5 million that is required to start a bank is unreasonable,” he said.

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Call for legislative review to nurture indigenous banks

Members of Parliament have called on the Ministry of Finance and Economic Development to set up new legislation through advice from the Bank of Botswana (BoB) to establish a second tier banking system in the country that encourages the establishment of an indigenous bank.

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