BoB wants P52bn Pula Fund protected from 'frequent withdrawals'

Friday, July 17, 2020

Looking forward: Pelaelo and his executives say future generations must also benefit from the Pula Fund

The Bank of Botswana (BoB) is pushing for the development of policies to “ringfence” the Pula Fund and protect its billions from “consistent” withdrawals, BusinessWeek can reveal.

The Pula Fund houses the country’s savings comprising decades of budget surpluses and diamond revenues.

Set up as a sovereign wealth fund managed by the BoB and global asset managers, the Pula Fund is designed to act as a fiscal buffer and nest egg for future generations who will live in an era without strong diamond revenues.

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BoB wants P52bn Pula Fund protected from 'frequent withdrawals'

The Bank of Botswana (BoB) is pushing for the development of policies to “ringfence” the Pula Fund and protect its billions from “consistent” withdrawals, BusinessWeek can reveal.