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.
When the news broke, a fierce debate ensued. While some members of the public believe that the law should take its cause, there is a section of the population that believes the move to detain the MP is politically motivated.Matsheka has been in the custody of the Directorate of Intelligence and Security since August 2 and the warrant of arrest was allegedly obtained on August 4, two days later.The issue of alleged ritual murders has never been an...