Gov’t seeks P3bn loan from commercial banks

Friday, March 13, 2026 | 500 Views |

Rare turn: Gaolathe will seek Parliamentary authority to raise funds from banks

The Minister of Finance is set to approach Parliament for approval to raise $216.6 million (about P2.95 billion) from three commercial banks, marking a rare turn to bank lending as the government grapples with mounting fiscal pressures and a widening budget deficit.

According to a recent Government Gazette notice, the country's fiscal authorities intend to secure a P3 billion facility from a consortium of local lenders comprising First National Bank Botswana (FNBB), Stanbic Bank Botswana, and Absa Bank Botswana.

The facility will require parliamentary endorsement before it can be concluded, in line with statutory requirements governing public borrowing.

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