AfDB sets up P5bn local bond programme

In what is seen as an indication of local capital markets deepening as well as a boost for local companies seeking funding, the bonds are expected to be issued in tranches as and when demand arises and listed on the Botswana Stock Exchange (BSE).

Although the modalities of the tranches to be issued are still being worked out by AfDB, market development manager at the BSE, Thapelo Moribame said at P5 billion, the size of the MTN programme is a sign that the multilateral institution is confident of raising such much money in Botswana over time.