Bookbinder Business Law advised Standard Chartered Bank Botswana Limited on its issuance of BWP229,963,000.00 Notes due 2028

Bookbinder Business Law advised Standard Chartered Bank Botswana Limited (“Standard Chartered Botswana”) on its issuance of BWP229,963,000.00 Senior Unsecured Notes (“SCBB010 Notes”) due 2028. The SCBB010 Notes comprise a standalone issuance of debt securities by Standard Chartered Botswana. The Botswana Stock Exchange Limited approved the listing of these debt securities with effect from 28 June …

The Credit Information Bill, 2021 – What To Expect

The main object of the Credit Information Bill, (the “Bill”) published on 11 June 2021, is to provide for the regulation of the credit reporting system, the licensing and supervision of credit bureaus by the Bank of Botswana (the “Bank”). Under the Bill, a credit bureau is defined as a company licensed to collect credit …

BOTSWANA COMPLIANCE UPDATE: FATF GREY LIST

Botswana Compliance Update: FATF Grey List

Further to our previous newsflash on the topic Implications of Botswana’s Anti-Money Laundering Blacklisting by the EU, we hereby give a compliance update on Botswana’s current situation and progress as at 1 March 2021 with respect to addressing strategic technical compliance deficiencies in its anti-money laundering/combat the financing of terrorism (“AML/CFT”) regime. Put at its …

2021/22 Budget Speech Commentary on Monday 1st February 2021

Hon Minister of Finance and Development Planning, Dr T Matsheka delivered his second budget against the background of the Covid-19 pandemic (and its resultant impact on the domestic economy) together with the recently completed mid-term review of National Development Plan (NDP) 11. Government previously approved P14.5bn towards the Economic Recovery and Transformation Plan (ERTP) in …

Implications of Botswana’s Anti-Money Laundering Blacklisting by the EU

On 13 February 2020, Botswana, along with 23 other jurisdictions, was included on an updated list of high-risk third jurisdictions with strategic deficiencies in their anti-money laundering/ counter financing of terrorism (AML/CFT) regimes published by the European Commission of the European Union (“EU”). Further, to the classification of Botswana as a high-risk third country, the …

Botswana Development Corporation’s Domestic Medium Term Note Programme

Bookbinder Business Law advises Botswana Development Corporation Limited (“BDC”) on the issuance and listing of BWP162,140,000 Notes in terms of BDC’s BWP1,000,000,000 Domestic Medium Term Note Programme (“Programme”) on the Botswana Stock Exchange. Bookbinder Business Law acted as legal counsel to BDC on the update of the Programme and subsequent issuance (by means of a …