Northern Rock, any lessons for Botswana?

Wednesday, February 27, 2008

The British mortgage lender, Northern Rock went into trouble more or less at the same time as the Lobatse-based fuel hauler, Lobtrans.

But the difference is that to the Botswana government, nothing seems to be happening, while in London, Northern Rock is under public scrutiny.

A few weeks after depositors and shareholders clamoured for their money, the British legislators were engaged in a bi-partisan effort to pass emergency legislation to empower government to take over control of the bank temporarily.

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