BBS gets P250m funding from IFC

IFC, Barclays and BSE officials at yesterday's listings of the bind PIC: KAGISO ONKATSWITSE
IFC, Barclays and BSE officials at yesterday's listings of the bind PIC: KAGISO ONKATSWITSE

The International Finance Corporation (IFC), a sister organisation of the World Bank, has announced its debut Kgalagadi Bond to finance a $25 million (P250 million) investment in the Botswana Building Society (BBS).

IFC’s support to the Building Society will promote financial inclusion and access to housing finance in the country.

IFC investment in BBS comprises a senior loan equivalent to $25 million in local currency. The long-term funding will support the transformation of the Society into a full-service commercial bank financing underserved clients, including small and medium enterprises.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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