Botswana’s EU blacklisting to hurt local banks
The blacklisting of Botswana by the European Union (EU) back in May is set to harm the financial services as local banks will face difficulties conducting business with their European counterparts.
The Permanent Secretary in the Ministry of Finance and Economic Development, Dr Wilfred Mandlebe recently told the Public Accounts Committee (PAC) that the listing also affects the processing of financial transactions and reduces investor confidence.
Ultimately, this leads to a loss in business opportunities for the country.
Despite the bla...
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