Banks urged to support SMEs
Wednesday, April 13, 2016
Bank of Botswana (BoB) governor, Linah Mohohlo said there must be more activity in the direction of ensuring that the financial system is fit for the 21st century through sustainable finance. “We want to see a visible helping hand by banks in, among others, providing business counselling services to nurture small and medium sized businesses,” she said.
The SME sector accounts for almost 90 percent of registered businesses in Botswana.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...