BoB income doubles on weaker pula

Masalila PIC: KAGISO ONKATSWITSE
Masalila PIC: KAGISO ONKATSWITSE

The depreciation of the pula against most major currencies particularly the US dollar has seen Bank of Botswana (BoB) income for 2015 doubling from the prior year largely due to currency revaluations.

Addressing the media in Gaborone yesterday, the central bank’s head of monetary and financial stability, Kealeboga Masalila said net income for the bank stood at P9.1 billion more than double the P4.1 billion realised in 2014.

“The highest contribution came from revaluation gains to net income due to the fall of the pula against major currencies,” he said.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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