While on the subject of the domestic banking sector, let me digress a bit into an example of the Bank of Botswana’s accountability to stakeholders on delivery of all its mandates, which include monetary policy, the objective of which is to maintain low, predictable and sustainable level of inflation.
In this regard, the BSP acknowledges the huge potential of digital technology, that includes cryptocurrencies, to transform financial service delivery, specifically in the area of payments and remittance. High-speed digital networks allow funds to move across the globe at a much faster, cheaper and convenient way compared to traditional models. Their use is game-changing for the unbanked, given their affordability and wider reach.