Govt seeks to borrow P1.2bn

Wednesday, May 22, 2019

Finance minister Kenneth Mathambo PIC. KENNEDY RAMOKONE

Government will return to the capital market on May 31, seeking to borrow P1.15 billion, by way of floating a six-month treasury bill and three bonds.

Every three months, government, through the Bank of Botswana, borrows from the local capital market to fund the national budget and also develop the market’s capacity.

The auctions are limited to commercial banks, which hold exclusive bidding rights. Other investors and issuers use the yields at the auctions to set the standard for returns in the capital market.

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