Online Version

Facebook Feed

  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
  • Bank Gaborone digitalises paymentsMay 12, 2022
    Launches the first ever Card-2-Card in Botswana We are offering clients high tech solution-Coetzee Bank Gaborone upbeat on its digital banking strategy BAKANG TIRO editors@thepatriot.co.bw Bank Gaborone has stepped up its digital banking integration through launching Card-2-Card payment solution […]
  • BSE targets new listingsMay 12, 2022
    As bourse launches Investor Compensation Fund P28 million fund to boost the investors’ confidence BSE CEO Tsheole upbeat on further growth of ETFs BAKANG TIRO editors@thepatriot.co.bw Botswana Stock Exchange Limited (BSE) CEO Thapelo Tsheole says the newly launched BSE […]
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Tuesday, May 17, 2022
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

BoB is clean – Matambo

patriot by patriot
January 26, 2021
in Business
0
Call to Govt: Issue more bonds
491
SHARES
1.4k
VIEWS
ShareShareShare

The  Minister of Finance and Economic Development Kenneth Matambo has cleared misconception that there is government funds worth of P 22 billion missing at Bank of Botswana ( BoB).

Minister Matambo, while responding to question in parliament on Wednesday, told Parliament that the bank’s successive financial statements have generated clean audit reports. He made indications that the clean audit reports by the Auditor General confirm appropriate maintenance of accounts and existence of sound risk management at the bank.

“And in general, this resembles effective governance structures at the Bank of Botswana. I would like to reiterate my Ministry’s position that there are no Government funds missing from the Remittance Bank held at BoB,” he added.

Matambo argues that the source of the story on missing funds seems to have been the Auditor General’s report for the financial year ended 31st March 2017 which he believes was quoted out of context.

The Auditor General, according to Matambo, in her report on the Accounts of Botswana Government for the Financial year ended 31st, expressed concerns about the reconciliation of the govt. bank accounts making up the year end-totals.

“In this regard, the AG reported that the reconciliation statement of the remittance Account included unreconciled payments of P2.27 billion and un-reconciled receipts of P19.66 billion. Which should have been cleared? It should be noted that no funds were reported missing,” Matambo emphasized.

Quizzed over the reconciliation progress, he noted that the Remittance Account’s unreconciled items have been substantially reduced, the amounts now stand at P870 million for payments and P10.75 billion for receipts.

This is against the P2.27 billion and P19.66 billion for payments and receipts respectively that appeared in the Auditor General’s report.

Jwaneng Mabutsane MP Shaun Ntlhaile had asked the Minister to apprise Parliament if it is true that government funds are missing from the remittance account at Bank of Botswana.

Gaborone North MP Haskins Nkaigwa also sought answers if indeed there was no money missing while the government accounts are still not balancing. He further queried the long delay of reconciliation exercise.

Matambo maintained that reconciliation is a process and not an event; saying the Ministry strives for continuous improvement in making the accounts current.

Related

Tags: BoB

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
  • Bank Gaborone digitalises paymentsMay 12, 2022
    Launches the first ever Card-2-Card in Botswana We are offering clients high tech solution-Coetzee Bank Gaborone upbeat on its digital banking strategy BAKANG TIRO editors@thepatriot.co.bw Bank Gaborone has stepped up its digital banking integration through launching Card-2-Card payment solution […]
  • BSE targets new listingsMay 12, 2022
    As bourse launches Investor Compensation Fund P28 million fund to boost the investors’ confidence BSE CEO Tsheole upbeat on further growth of ETFs BAKANG TIRO editors@thepatriot.co.bw Botswana Stock Exchange Limited (BSE) CEO Thapelo Tsheole says the newly launched BSE […]
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?