BoB keen to halt 'booming' currency black market

According to a report released yesterday, the Central Bank conducted on-site examinations last year, which indicated that bureaux de change profitability was shrinking due, in large part, to the burgeoning currency black market. The trend was seen highest in Francistown, the report states. "This matter is receiving the attention of the Bank," a section on bureaux de change in the 2010 Banking Supervision Report reads.

Preliminary Business Today enquiries conducted yesterday indicate that the currency black market is strongest around the main bus ranks in Gaborone and Francistown, with cross-border travellers to Zimbabwe and South Africa being the main customers.