Bank of Botswana pays govt surprise P4.1bn windfall

Wednesday, May 01, 2019

The Bank of Botswana (BoB) made a once-off payment of P4.1 billion to government earlier this year as income from gains made in the investment of state funds last year, BusinessWeek has established.

Data seen this week shows the payment was made in April and helped the first quarter of the 2019-2020 budget to a P2.1 billion surplus, in a year in which the fiscal year is expected to record a P7.8 billion deficit.

The BoB’s payout comes as questions are raised about the central bank’s management of government funds, after prosecutors in a magistrate court case this week alleged political leaders had pilfered billions in previous years.

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Bank of Botswana pays govt surprise P4.1bn windfall

The Bank of Botswana (BoB) made a once-off payment of P4.1 billion to government earlier this year as income from gains made in the investment of state funds last year, BusinessWeek has established.

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