Microlender Plans West African Expansion After Ghana Acquisition

Microlender Plans West African Expansion After Ghana Acquisition

ACCRA (Capital Markets in Africa) – Letshego Holdings Ltd., the Botswana microlender that has made acquisitions in Nigeria and Ghana during the past year, plans to enter Ivory Coast to boost access to West Africa’s francophone market. The lender, which has operations in 11 African countries, is also weighing up an expansion into Zambia and Zimbabwe, Chief Executive Officer Christopher Low said in an interview in Botswana’s capital, Gaborone. Letshego, which had a loan book of $620 million…

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Botswana’s central bank keeps Bank rate unchanged at 5.5 percent

Botswana’s central bank keeps Bank rate unchanged at 5.5 percent

GABORONE (Capital Markets in Africa) – The Bank of Botswana Bank Rate was maintained at 5.5 percent at the Monetary Policy Committee (MPC) meeting held on December 13, 2016. This was in view of the positive outlook for price stability, with inflation forecast to be within the Bank’s 3 – 6 percent medium-term objective range. The Bank stated that the current state of the economy and both the domestic and external economic outlook, including the…

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Botswana | Moody’s affirms Botswana’s A2 government bond rating; outlook stable

Botswana | Moody’s affirms Botswana’s A2 government bond rating; outlook stable

Gaborone, Botswana, Capital Markets in Africa — Moody’s Investors Service (“Moody’s”) has today affirmed Botswana’s A2 long-term issuer and senior unsecured debt ratings. The outlook remains stable. Moody’s analyzed Botswana’s credit profile in the context of the commodity price shock and its impact on the country’s economic and fiscal strength. The affirmation reflects Moody’s view that despite pressure on some of the country’s credit metrics, the challenges that the current external environment poses for the…

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Botswana’s central bank retains rate at 65, inflation falls to 2.7% …

Botswana’s central bank retains rate at 65, inflation falls to 2.7% …

Gaborone, Botswana, Capital Markets in Africa — Bank of Botswana retains the Bank Rate at 6.0 percent at the meeting of the Monetary Policy Committee (MPC) held on Wednesday, 17 February 2016, Bank of Botswana said in a statement on its website. The Bank’s decision is aligned with the need to safeguard financial stability, to sustain credit growth and to maintain financial stability.   In addition, Botswana’s GDP growth is estimated at 1.2 percent in the…

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Botswana’s A2 government bond rating is affirmed; outlook stable — Moody’s

Botswana’s A2 government bond rating is affirmed; outlook stable — Moody’s

Gaborone, Botswana, Capital Markets in Africa — Moody’s Investors Service (“Moody’s”) has today affirmed Botswana’s A2 government bond and issuer ratings. The outlook remains stable. Botswana’s local currency bond and deposit ceilings remain at Aa3, foreign currency deposit ceiling at A2/P-1, and foreign-currency bond ceiling at Aa3/P-1, unchanged. The key factors for affirming the A2 rating and maintaining the stable outlook are: Fiscal Resilience Supported by large assets and low debt: The first factor underpinning…

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Botswana’s Central Bank Keeps Benchmark Rate Unchanged at 6.00%

Botswana’s Central Bank Keeps Benchmark Rate Unchanged at 6.00%

Gaborone, Botswana, Capital Markets in Africa — Bank of Botswana maintains the Bank Rate at 6 percent at the Monetary Policy Committee  (MPC) meeting held on the 9 December 2015, according to a press release by the bank.   In 2015, the MPC had cut the Bank Rate in February and August by 100 basis points (from 7.50 percent) and 50 basis points (from 6.50 percent) respectively. However, maintained the Bank Rate of 6 percent and 6.50 percent…

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Botswana Equity Markets | 05 Oct 2015: Botswana equity markets bear returns, DCI down 0.28%, market capitalisation drops by US$95 Mill…..

Botswana Equity Markets | 05 Oct 2015: Botswana equity markets bear returns, DCI down 0.28%, market capitalisation drops by US$95 Mill…..

Botswana, Capital Markets in Africa — The Botswana Stock Exchange Equity Markets bear returned leaving the markets unable to sustain the previous days gains as the Domestic Composite Index (DCI), Domestic Financial Sector Index (DFSI) and the Local Asset Sector Index (LASI) all retreated southwards today. Market capitalisation dropped further with price gains made in five stocks and only one price decrease recorded in the listed tradeable securities of the day. The Botswana Domestic Composite Index (DCI) lost by 29 points or 0.28…

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