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2025/07/31
Reference Number
SCE002/2025
Description
Main purpose of the job
To receive and verify currency received from Vault Custodians.
Key Results Areas of the job
(a) Maintaining security of cash;
(b) Absence of pilferage;
(c) High quality of banknotes and coin in circulation; and
(d) Accountability for cash discrepancies.
Requirements
Job Requirements
Higher National Diploma in Banking, Accounting and Business Studies plus two years relevant post qualification experience.
Competencies
The most suitable candidate is expected to have the following skills: attention to detail, organising, critical thinking, communication, time management, teamwork and customer service.
Click here to apply
We wish you all the best with your applications
The Bank maintains the capability to analyse all key economic policy issues that impact on the economy of Botswana, including both domestic and international developments.
Financial stability refers to a well-functioning, liquid, solvent and sound financial system that efficiently facilitates payments, pools funds and allocates resources to the most productive sectors of the economy.
The Bank of Botswana (Bank) promotes financial stability in the country through the regulation and supervision of banks and other financial institutions.
The Bank of Botswana has legislative oversight of the National Payments System (NPS) in Botswana which ensures the effective functioning of all processes relating to financial payments and settlements.
The Bank of Botswana has been issuing currency (notes and coin) since August 1976 when the national currency, the Pula, was first introduced.
The bank of Botswana engages in a variety of operations in domestic financial markets, covering money, bond markets, and foreign exchange markets.
How can one invest in Government Bonds?
The local Government bond market has five commercial banks that are Primary Dealers (PDs). PDs participate at Government auctions to purchase bonds for their own accounts as well as for their clients. The Bank of Botswana conducts these auctions every month as an agent for Government. Currently the PDs are Absa Bank, Access Bank, First National Bank, Stanbic Bank and Standard Chartered Bank. Investors can also purchase securities in the secondary market through the same PDs. Potential investors can approach either the PDs or the Bank of Botswana for more information on investing on Government securities.
Why should one invest in Government Bonds and T-Bills?
Both government bonds and T-Bills are regarded as the safest investment as the Government is considered to have a very low default risk. Currently the Government issues debt securities largely for budget financing and capital market development. By purchasing Government securities, investors are contributing to the development of the economy while earning a set of returns at regular intervals. Government securities also provide an opportunity for investors to diversify their investment portfolios.
When were the first Bonds issued?
The Government of Botswana issued the first bonds in March 2003 mainly for capital market development since the Government was running budget surpluses at that time. The first issuance programme involved three new government bonds, with maturities of 2, 5 and 12 years. The first issuances were very successful given that pension funds and other institutional investors needed these instruments for investment.
What are Government Bonds?
A bond is a fixed income instrument with longer term maturity, and it represents a loan between the issuer and investors. The investors lend funds to Government/borrower and earn a fixed interest called a coupon. Long-term bonds generally offer higher coupon rates compared to short-term bonds when issued under similar conditions to compensate investors for interest rate movements. Coupon payments are usually paid annually or semi-annually (for Botswana Government bonds is semi-annual coupon). Upon maturity of the bonds, the investor receives the principal amount invested as well as the last coupon. Generally, bonds can be priced based on their face value, or par value. Bonds that are priced above face value are said to trade at a premium, while bonds that are priced below their face value/below par trade at a discount.
However, the investor would be paid the full face-value of the bond at maturity. Currently, the government has seven outstanding bonds of maturities ranging from 0.7 years to 20.9 years as depicted by table 1 below.
Table 1: Government Bond Maturities
| Bond Name | Coupon Rate (Percent) | Years to Maturity |
|---|---|---|
| BOTSGB0623 | 4.50 | 0.7 |
| BOTSGB0325 | 8.00 | 2.4 |
| BOTSGB0527 | 5.50 | 4.6 |
| BOTSGB0929 | 4.80 | 6.9 |
| BOTSGB0931 | 7.75 | 9.0 |
| BOTSGB0635 | 8.60 | 12.0 |
| BOTSGB0940 | 6.00 | 17.7 |
| BOTSGB0943 | 5.30 | 20.9 |
Note: BOTSGB stands for Botswana Government Bonds
What are Treasury Bills?
These are short term debt instruments with maturity of twelve months or less. They are issued/ sold at a discount at auctions. As a result, the investor pays the discounted amount at issuance and receives the face value (nominal) amount at maturity of the T- Bill. They offer no interest payment during tenure. Locally, the Government issues T- bills of 3- months, 6-months and 12-months maturities. The 3 and 6-months T-bills are issued monthly while the 12-months T-bills are issued quarterly, per fiscal year.
What are the types of Government Securities available in Botswana?
The securities include both bonds and Treasury Bills (T-Bills).
How are they issued?
These securities are usually issued in local currency (Pula) but can also be offered in foreign currency. The securities are available for both local and foreign investors.
What are Government Debt Securities?
Government debt securities are contracts between the Government and investors. The Government issues these instruments to borrow funds from individuals and business entities.
What is a Loan Repayment Holiday?
The forced closure of economies globally, Botswana included, aimed at containing the spread of the Covid-19 disease has brought economic hardships to individuals and companies, alike. In the case of Botswana, most businesses, formal and informal, were closed effective April 2, 2020, – for a period of 28 days – except those designated as providing essential services, such as banks. Realising that economic closure meant increased credit risk on businesses and individuals, the banking industry in Botswana, collectively, resolved to offer repayment moratorium, in deserving cases, for a minimum period of 3 months, extendable to 6 months, where warranted. This note sheds light on the meaning and implications of repayment holidays in practice.
Read Repayment Holidays Explained Notice
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