Afreximbank still open to Botswana loan deal

Art of the deal: Kale speaking on the sidelines of the Afreximbank annual meeting last week
Art of the deal: Kale speaking on the sidelines of the Afreximbank annual meeting last week

Afreximbank, the continent’s primary trade finance institution, is open to extending credit to Botswana, despite the failure of negotiations for a $1.5 billion funding package in 2022, BusinessWeek has learnt.

A high powered team from the Cairo-headquartered bank spent days in the country two years ago hammering out the details of the proposed funding, which was intended to be spread out over three years.

However, no firm ground could be found, with reports that Finance Ministry technocrats were unimpressed with the loan’s terms. The offer would have been the first time the pan-African trade bank partnered directly with government, as its previous deals in the country have been limited to private sector support.

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This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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