BoB engages consultant to boost interbank activity

Deal done: BoB and Frontclear representatives signing the MoU on Monday
Deal done: BoB and Frontclear representatives signing the MoU on Monday

The Bank of Botswana (BoB) has signed a Memorandum of Understanding with international finance development company, Frontclear, to boost the local market’s weak interbank activity.

Under the agreement signed this week in Gaborone, the central bank will work hand in hand with Frontclear on drafting a money market diagnostic framework, a policy that will guide money market operations in the country.

The local money market is a component of the economy that deals with the trading of short-term debt and currencies between financial institutions. Conventionally in Botswana, the trading of currencies and short debt options between local banks has been plagued by low activity due to the central bank’s heavy involvement.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

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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