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Gov't greenlights new Sovereign Wealth Fund

Friday, February 14, 2025 | 1110 Views |

Advising: Bank of Botswana governor, Cornelius Dekop. The central bank had advised government to restructure the Pula Fund PIC: PHATSIMO KAPENG

The Minister of Finance, Ndaba Gaolathe, on Monday announced plans to create a “fully-fledged” Sovereign Wealth Fund, moving in line with recommendations by the IMF and the Bank of Botswana which have called for the establishment of a strong generational fiscal reserve.

Whilst the country currently has the Pula Fund acting as a fiscal buffer and a store of reserves for future generations, experts have said the fund has structural weaknesses, which include the lack of commitments around deposits and poor control of frequent withdrawals.

Delivering his inaugural budget speech, Gaolathe said government was committed to ensuring long-term macroeconomic stability and fostering intergenerational equity by preserving sufficient assets and wealth for future generations.

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