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
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

Have a Story? Send Us a tip
arrow up