GIA plummets as deficit now seen at P29bn

Friday, May 09, 2025 | 900 Views |

Dicey times: The Finance Ministry is scrambling to keep government finances ticking over

Government has drawn down its savings housed in the Government Investment Account (GIA) to a meagre P250 million, as widening deficits force it to dig deep into its pockets to finance budgetary shortfalls — a crisis which has driven capital markets into a crunch.

With diamonds, the mainstay sector of Botswana’s economy, remaining protracted with no clear recovery in sight, government faces dwindling revenues that is burning up savings held by the Bank of Botswana (BoB) known as the GIA.

Government has been forced to draw down heavily on the GIA to meet its budgetary requirements, whilst also failing to replenish the account due to low mineral sales.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Play fair- Defence tells State as Moagi trial stalls

Larona Makhaiza | 4 h ago

Takatokwane police probe 'injury-related death' months after attack

Pini Bothoko | 6 h ago

Cow carcass hanging on tree as two suspects flee

Pini Bothoko | 6 h ago

Unidentified pedestrian dies in early Sunday car accident

Pini Bothoko | 6 h ago

Serowe man faces rape charge after 'forcing' girlfriend into oral sex

Pini Bothoko | 6 h ago

BDP sees hope in Tati by-election result

Tsaone Basimanebotlhe | 6 h ago

AG counts losses in outsourced legal cases

Goitsemodimo Kaelo | 6 h ago

AG yet to see forensic report

Goitsemodimo Kaelo | 6 h ago

Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

The Monitor Editor | 23 June 2026

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

GIA plummets as deficit now seen at P29bn

Government has drawn down its savings housed in the Government Investment Account (GIA) to a meagre P250 million, as widening deficits force it to dig deep into its pockets to finance budgetary shortfalls — a crisis which has driven capital markets into a crunch.

Explore

More

Play fair- Defence tells State as Moagi trial stalls

Takatokwane police probe 'injury-related death' months after attack

Cow carcass hanging on tree as two suspects flee

Unidentified pedestrian dies in early Sunday car accident

Serowe man faces rape charge after 'forcing' girlfriend into oral sex

BDP sees hope in Tati by-election result

AG counts losses in outsourced legal cases

AG yet to see forensic report

Get back what was stolen, and lock the door