New BoB Act: Inside the Ts and Cs

In its economic briefing on Wednesday, Mmegi was able to put several questions to Bank of Botswana (BoB)’s senior management on the impact of the sweeping amendments to the Bank of Botswana Act made by Parliament earlier in the week.

The amendments comprise nearly 40 clauses that substantially change, delete and or revamp sections of the old Act. Despite the exhaustive changes required, the updated law sailed through Parliament unchanged, without a single objection from the both sides of the legislature.