BPOPF shake -up boosts banks liquidity

Friday, June 26, 2015

Cash deposits into the banking system reached a record high of P61 billion in March after a colossal P7 billion injection as fund managers, that recently lost Botswana Public Officers Pension Fund (BPOPF) mandates, brought back home offshore funds.

Earlier in the year, the Bank of Botswana was forced to release P2.3 billion into the banking system, following a liquidity crunch caused by years of unsustainably high credit growth set against stagnant deposits growth.

The BPOPF, which holds a larger part of its P54 billion war chest offshore, recently shook up the local capital markets by withdrawing mandates from some local managers and reallocating them to new clients.

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