Botswana
Best foreign bank: Standard Chartered Bank
Best foreign securities house: Stockbrokers Botswana
In its quest to turn Botswana into an offshore banking centre the government has been busy reforming the financial sector. In the past two years new tax legislation has been passed and all foreign exchange controls have been abolished.
Foreign banks dominate financial intermediation in Botswana. Barclays, Standard Chartered Bank (SCB), and the South African banks First National and Stanbic effectively control both the small wholesale market and the retail market – a situation that is repeated elsewhere in the continent, as well as in many other emerging markets.
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