Thursday, June 20, 2024

Govt tight lipped on BoB Governor’s employment contract

The government appointing authority of the Central Bank, Bank of Botswana (BoB) Governor, Office of the President (OP) has remained tight lipped on the employment contract of BoB Governor Linah Mohohlo.

Speculation is rife in the financial services sector and government enclave that His Excellency President Ian Khama as the appointing authority of BoB top post has extended Mohohlo’s employment contract which is expected to end this year September with two more years of extension to end in 2017.

Media questionnaire sent to Office of the President (OP) through the office DPS Head of Government Communications Dr Jeff Ramsay referred the Sunday Standard inquiry to BoB.

“The Central Bank is an independent entity established by the Banking Act and is responsible for handling the subject matter because it has its own communications department to address this matter,” said Ramsay.

The same inquiry was then sent to BoB through Head of Communications Andrew Sesinyi who also referred this publication back to OP maintaining that the Governor Mohohlo’s employment matter are handled by OP.

“In accordance with the Bank of Botswana Act, the appointing authority is His Excellency the President. The Bank has no basis to speculate on reasons for extension of any of the senior management’s contract of employment,” said Sesinyi.

Mohohlo (63), employment contract is expected to end in September-October 2015 after service BoB plum post for 16 years of continuous service since appointed BoB Governor in 1999 to date. Prior her appointment she was BoB Deputy Governor from 1997 to 1999.

Government appointed Linah Mohohlo Governor of the Bank of Botswana in1999, following a 23-year career with the dank, during which she worked in operational and policy areas. Fast forwarded to 2015 and many years after the start of the financial crisis, banks have made strides towards improving financial stability but they are still struggling to boost profits. Over the past year 2014, the market as a whole experienced a squeeze in local currency liquidity.

Information contained in Mohohlo’s Curriculum Vitae (CV) indicate that she is equipped with MA Finance and Investments, University of Exeter, UK, BA Economics, The George Washington University, Washington DC, USA as well as Diploma, Accounting and Business Studies, University of Botswana.

Mohohlo got appointed one of two Deputy Governors by immediate past President Festus Mogae in 1997, responsible for the Financial Markets, Research, Banking and Human Resources Departments.

In charge of reserves management, domestic market operations, monetary, exchange rate, banking and financial policies formulation or implementation, as well as the administration and human resource functions of the Bank. Mohohlo has a short stay as she got seconded to the International Monetary Fund in Washington DC (1994 ÔÇô 1996), and worked in the African Department and Monetary and Capital Markets Department; participated in surveillance and technical assistance missions to a number of IMF member countries.

Mohohlo is a recipient of a number of national and international awards, among which is Botswana’s highest public service award for efficient and devoted service, the Presidential Order of Honour. Both the Financial Times Magazine (the Banker) and Euromoney bestowed on her the Central Bank Governor of the Year for Africa Award in 2001 and 2003 and 2008, respectively.

In 2011, she received the Lifetime Leadership Award from the Official Monetary and Financial institutions Forum (OMFIF). She is ranked among the 10 Most Powerful Women in Africa for 2011 by Forbes Africa. She was honoured with the Africa Banker Award in 2014.


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