Botswana considering ICT-driven financial systems

Putting resources into information and communication technology (ICT) driven monetary frameworks will upgrade Botswana’s financial versatility, a government official with the southern African country’s national bank said on Wednesday.

Blameless Molalapata, the delegate chief with the Bank of Botswana answerable for research and monetary dependability, made this proposal while addressing the media to share the content of the 2021 Statutory Bank of Botswana yearly report in Gaborone, the capital of Botswana.

“Digital technologies have the potential to enhance Botswana’s economic resilience and lead to the creation of new and better prospects for sustainable and inclusive growth,” said Molalapata.

He said Botswana needs to use existing innovation to further develop efficiency and cultivate comprehensive development, as she changes towards a big league salary status by 2036.

More fruitful progress and variation to the computerized economy can possibly fix the perpetual financial difficulties of Botswana, to be specific, limited monetary base, high rate of unemployment, and inconsistent dispersion of pay, he said.

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Also, a speaker at the occasion, Moses Pelaelo, the legislative leader of the Bank of Botswana, said to move the country to a high salary status by 2036, there is a requirement for a committed spotlight on working on the existing computerized environment and related ICT framework to develop accessibility and affordability of internet and improvement of a minimum amount of computerized abilities.


Pelaelo said this presents the most sensible way for bringing absolute component efficiency up in Botswana and fabricating financial flexibility supported by encouraging innovation-friendly arrangements, utilizing innovations to cultivate comprehensive development, and adjusted monetary turn of events.

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