🇧🇼BotswanaSouthern Africa
Country's foreign exchange reserves reach P56 billion in March, highest since October 2024
via Mmegi1 min read
The country's foreign exchange reserves increased to approximately P56 billion in March, marking the highest level since October 2024. This improvement suggests an increase in inflows and the impact of policy changes, including exchange rate adjustments. In March 2024, the reserves stood at about P46.4 billion. The Bank of Botswana's preliminary data indicates a general upward trend, with reserves rising from P55.3 billion in February to P56 billion in March. The Pula Fund, a savings instrument, was valued at P29.1 billion in March, up from P24.5 billion a year prior. The Government Investment Account GIA, which is the government's share of the Pula Fund, reached P9.1 billion in March, compared to P7 billion in March 2025. The GIA is used to fund various government needs and support import bills. Its balance fluctuates based on the surplus or deficit of the Government Remittances Account GRA, the government's main revenue account. When the GRA's balance falls below a certain level, withdrawals are made from the GIA. Due to a downturn in the diamond industry and weaker alternative revenue sources, the GIA has increasingly been used to supplement the GRA.
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This summary was AI-generated from a story originally published by Mmegi.
Athlone Hospital has received a P70,000 donation of essential medical supplies from the Farouk Ismail Group. The consignment, handed over on Tuesday morning, included medication for managing high blood pressure, hypertension, cholesterol-related conditions, and diabetes. Farouk Ismail Group Pty Ltd Managing Director, Mr Faizel Ismail, stated that his decision to support the hospital was influenced by his strong connection to Lobatse, his birthplace. He expressed gratitude to the Athlone staff and hoped the donation would assist the hospital and the people of Lobatse. This donation is part of the company's ongoing community support initiatives, which recently included a medical equipment donation to Princess Marina Hospital in Gaborone. The Athlone matron, receiving the donation, thanked the Farouk Ismail Group, emphasizing that the contribution arrived at a critical time given the country's current drug shortages.
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