Money laundering listing worries Business Botswana

Business Botswana (BB) fears the recent placement of Botswana on a high-risk list by the Financial Action Task Force (FATF) will affect the ease of doing business in the country. Business Botswana is the country’s largest private sector lobby group comprising major corporations and commercial entities.

FATF, a global anti-money laundering organisation founded by the world’s richest countries, placed Botswana on its list last October, while the European Union added Botswana to its money laundering black list earlier this month, on recommendation from the FATF. According to Business Botswana, the listing was untimely as the country is focused on transforming into a high-income economy.

On Wednesday, BB president Gobusamang Keebine said the country’s listing implied that legislation dealing with fraud, corruption and money laundering was weak.  “The impact on the country’s economy could be relatively wide as it is linked with the international financial system. The private sector does not know how it will unfold, but the response must be integrated and comprehensive involving all stakeholders,” he said.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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