AfDB sets up P5bn local bond programme

Moribame
Moribame

The African Development Bank (AfDB) has approved the pula as a lending currency of the Bank and established a P5 billion Medium Term Note (MTN) Programme to issue pula denominated bonds in the local market.

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.

Editor's Comment
Shame on the Police!

According to a press statement from the police, unidentified armed men attacked on duty police officers at the station in the early hours of Tuesday.During the attack, the suspects stole 14 riffles, five pistols and an undisclosed number of ammunition.Although unconfirmed, it is alleged that the suspects were just carrying knives and axes, which they used to scare the men and women in uniform before they took them hostage to help themselves to...

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