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BoB fails to meet targets on Gov t bonds

BoB fails to meet targets on Gov’t bonds Breaking News Bank of Botswana (BOB) is failing to raise enough money from government bonds and treasury bills it periodically floats in the local market.  The bank and Ministry of Finance are working around the clock to raise money in order to finance shortfalls in government expenditure needs.

 Through BoB, Government borrows from the local capital market by floating and issuing bonds and treasury bills regularly for uptake by locally trading investors.

This year, with deteriorated government fiscus and depleted foreign reserves, pressure is mounting on BoB to explore available debt options locally with a view to avoid excessive external borrowing which often comes with exorbitant interest rate charges and costly terms.

BURS loses P80 million claim against Prevailing Securities

Weekend Post Breaking News Botswana Unified Revenue Services (BURS) has lost an P80 million tax claim against Prevailing Securities (Pty) Ltd, a company owned by Shadrack Baaitse, an ally of former President Lt Gen Ian Khama. Lobatse High Court Judge Michael Leburu this week ruled in favour of Danny Julius Guduli in his capacity as the Judicial Manager of Prevailing Securities (Pty) Ltd against Botswana Unified Revenue Services (BURS) and its Commissioner General. On the 17 th August 2018, the company [Prevailing Securities] was selected by the BURS for Tax Investigations. The Managing Director, Baaitse, attended an interview called by BURS, duly represented by Kaone Molapo, Daphney Baka and Samuel Mokelwane. The said interview was in respect to the company’s tax liability.

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