No local firms in foreign reserves value chain
Wednesday, March 12, 2014
The bank of Botswana Act establishes the legal framework for the management of the foreign exchange reserves.The bank of Botswana Act establishes the legal framework for the management of the foreign exchange reserves.
The Act provides that the bank shall be responsible for establishing and maintaining a primary international reserve (liquidity Portfolio), which shall in general consist of liquid short-term assets.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....