BoB considers introducing a ‘digital pula’

Thinking digital: The BoB has a dedicated group watching out for the latest in fintech PIC: MBONGENI MGUNI
Thinking digital: The BoB has a dedicated group watching out for the latest in fintech PIC: MBONGENI MGUNI

The Bank of Botswana (BoB) is studying the possibility of introducing a digital currency and says a unit is in place assessing the impact on the bank’s mandate and functions, as well as prospective responses, BusinessWeek can reveal.

A Central Bank Digital Currency (CBDC) is a digital form of central bank money that is widely available to the general public. Instead of only printing money, a central bank like the BoB would issue electronic coins or accounts backed by the full faith and credit of the government.

The central bank’s spokesperson, Seamogano Mosanako said the assessment is looking at the impact of a digital currency on price and financial stability, monetary policy transmission, regulation and oversight of the financial and payments system as well as promotion of financial sector development.

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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