Bank of Botswana will on 30 January auction P5.1 billion in government securities, marking the largest monthly domestic borrowing offer on record as the state moves to shore up cash ahead of the national budget in early February 2026.
If fully subscribed, the offer would surpass the P4.6 billion raised in late January last year, underlining a sharper short-term funding need as government leans more heavily on the domestic market. The strategy reflects pressure from a widening deficit and the timing gap before quarterly Southern Africa Customs Union remittances, which typically arrive about a month after quarter-end and have become critical to cash flow.
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