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
Government’s efforts commendable!

Since the news broke, the government made sure to work hand in hand with the South African government to assist the families of the victims. The two countries came together to help the families identify the bodies of their loved ones through DNA testing. The government also announced that they would assist families with food for mourners before the funerals.Even though the deceased persons were mostly residents of Molepolole, the government...

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