NBFIRA�s proposal stifles domestic capital markets � PwC
Friday, August 07, 2015
Due to a thin local capital market, regulators currently allow fund managers to invest up to 70 percent of their funds offshore. The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) however, hopes to change the law to 70% domestic and 30% offshore by 2050.
In a research report titled, Africa Asset Management 2020, accounting firm PwC said on the back of a stable political environment and a solid regulatory framework, Botswana’s financial sector seems to be well set for growth. However, the report contends that the long timeline under NBFIRA’s proposal coupled with a high wealth distribution inequality in Botswana are two factors that could frustrate the development of the local capital markets.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...