'To foster domestic financial markets development in harmony with the overall objectives of the Bank and manage the reserves efficiently through blending of high quality analytical and research skills of staff and utilisation of modern technology for a world-class return and safety of the Bank’s assets'
The Financial Markets Department manages the national foreign exchange reserves in line with the reserves management policies approved by the Board of the Bank and statutory requirements set out in the Bank of Botswana Act (Cap55:01). This entails making appropriate policy and investment recommendations in line with the approved strategic asset allocation and associated risk parameters. In doing so, the Department carries out thorough analysis of world capital and foreign exchange markets on an ongoing basis and provides advice to the Senior Management of the Bank and other stakeholders on relevant issues. In particular, the Department makes recommendations to the Bank’s Investment Committee, and is responsible for implementing the decisions of the Committee, including monitoring compliance with investment guidelines and risk management. While much of the reserves are managed internally by Bank staff, a portion is manged externally by specialist fund managers, monitored by the Department.
The Department also has responsibility for the Bank’s operations in the domestic foreign exchange, money and bond markets. This is in support of operational implementation of the exchange rate and monetary policies, including through weekly auctions of central bank securities to absorb market liquidity, and daily open market operations. The conduct of domestic market operations is facilitated by regular communication with local banks. In addition, the Department conducts quarterly auctions of Government bonds and treasury bills and provides advice on market development to the Bank’s Senior Management and other stakeholders.
Matthew W F Wright
Mr M Phetwe
Mr L C Moseki
Ms A Tebogo-Maruping
Tel: (267) 3606276
Fax: (267) 3904325