Mmegi

S&P maintains Botswana’s credit rating but dims on economy

Watching trends: Finance Minister, Ndaba Gaolathe, faces a baptism of fire in his first fiscal year, handling a diamond-led recession PIC PHATSIMO KAPENG
Watching trends: Finance Minister, Ndaba Gaolathe, faces a baptism of fire in his first fiscal year, handling a diamond-led recession PIC PHATSIMO KAPENG

The interest rates the country pays for its debt will remain steady for now, but attracting investment may become more difficult after a leading agency maintained its credit ratings assessment of the country but lowered its outlook on the country’s economy.

S&P, one of three main credit ratings agencies whose opinions determine government’s cost of borrowing, maintained the country’s high sovereign credit ratings but revised the outlook from stable to negative.

The decision, announced on Friday evening, is the first time S&P has downgraded Botswana’s outlook since September 2020 when the COVID-19 pandemic upended the economy.

Editor's Comment
A promising step for public schools, but...

For too long, the state of many public schools has been a source of shame. We have all seen the pictures and heard the stories of broken windows, unreliable water and electricity, topped by classrooms that are not fit for proper learning. The establishment of the Education Infrastructure and Management Company Ltd (EIMC) signals that authorities are finally ready to take this problem seriously. We must commend the government for this initiative....

Have a Story? Send Us a tip
arrow up