mmegi

BoB relishes greater autonomy as MPs pass amendments

Bank of Botswana Governor Moses Pelaelo PIC: THALEFANG CHARLES
Bank of Botswana Governor Moses Pelaelo PIC: THALEFANG CHARLES

Members of Parliament on Monday passed sweeping changes to the Bank of Botswana (BoB) Act, granting the central bank greater autonomy from undue 'political or industry' influence and sharpening its role to that of price management and financial stability.

The new amendments passed without a single objection by bipartisan legislators, also include tighter restrictions on the conditions under which government can borrow from the BoB.

The changes also include improved corporate governance at the central bank, with the governor removed from his dual role as board chair and bank chief executive.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

Have a Story? Send Us a tip
arrow up