Gov't seeks record P1.5bn in borrowings

Each quarter, the Bank of Botswana (BoB) holds auctions of bonds and six-month treasury bills on behalf of government under the P15 billion note issuance programme which dates back to February 2011. The auctions are limited to commercial banks, who hold exclusive bidding rights.

While the funds raised at the auctions are generally used for government budgetary support, the note issuance programme is also designed to develop and support the local capital market.