n African Finance Journal - Development of the capital market in Botswana




During its early days the capital market in Botswana was inadequate with respect to providing the required long-term developmental finance. It was for this reason that the Government of Botswana took an active role in long-term lending to the parastatals via external borrowings. Meanwhile, the government, on seeing the need to set up a market where organisers could raise the development finance, set the ball rolling in the direction of the establishment of a market for shares. In this paper, we bring out government?s realisation of the need for a capital market, and the path that was followed in the development of such a market. Finally, we address the possible reasons for the tardy growth posted by this market, and identify several ways of stimulating the market growth.


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