Govt urged to tap into local capital market

FRANCISTOWN: In reaction to the 2010-11 budget, Motswedi Securities MD, Martin Makgatlhe says that government has not done enough to utilise the local capital market to raise funds. He listed it as one of the expectations of the budget which minister of Finance and Development Planning Kenneth Matambo referred to in his budget speech. "It was about time. In 2009, the government listed only one bond worth P300 million, yet it borrowed millions from foreign markets," he stated.

Makgatlhe was one of the guest speakers at the budget review seminar hosted by Stanbic Bank in Francistown yesterday. He lamented the pace of economic diversification which he described as too slow and said there was still a high 'perception' of corruption particularly with government tenders.