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Gov’t, BoB agree P15bn borrowing for 2024

Monday, April 22, 2024 | 1250 Views |

At the helm: Serame expects a budget shortfall of more than P8 billion for 2024–2025. The minister is hoping for a surplus in the next financial year PIC: MORERI SEJAKGOMO

The Bank of Botswana (BoB) plans to raise P15.25 billion from the capital market this financial year on behalf of government, a fundraising effort needed to plug the budget deficit and other gaps.

According to the borrowing strategy document for 2024–2025 released earlier this week, the central bank will step up its efforts for government in light of the greater funding requirement by the state.

By comparison, the BoB was authorised to raise P7.05 billion for government in the 2023–2024 financial year, or less than half the target for the current financial year.

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Gov’t, BoB agree P15bn borrowing for 2024

The Bank of Botswana (BoB) plans to raise P15.25 billion from the capital market this financial year on behalf of government, a fundraising effort needed to plug the budget deficit and other gaps.