'To provide stakeholders with world-class payments, clearing and settlement services in line with international best practice and promote efficient, safe and sound payments system'
The Payments and Settlement Department is responsible for providing an efficient, secure and reliable payment systems infrastructure, thereby safeguarding a stable financial system in the country. In pursuit of this the Department collaborates with private sector institutions, international organisations and Government departments to introduce improvements to the safety and efficiency of the payments system.
The Department has three operational units:
- The Payment Systems Unit is charged with the implementation of the National Clearance and Settlements (NCSS) Act, (Cap 46:06) which regulates the payments systems in Botswana. It collaborates with SADC member states through the SADC payments system project team, in the reform and modernisation of the Botswana National Payment System (NPS) and implements the agreed to and approved by the Committee of Central Bank of Governors (CCBG). The Unit undertakes research work on the relevance, feasibility and regulation of various payment intermediation schemes and technologies and also the licensing, oversight and monitoring of clearing and settlement systems.
- The Settlement Unit provides back office support services to the reserves management function and ensures irrevocable settlement of the Bank's foreign exchange transctions. It also acts as a payment agent for foreign currency payments by the Government and the Bank. Furthermore, the Unit is charged with the administration of the SWIFT system and conducts the operations of both the SWIFT (messaging system) and the SWIFT Net Accord (automated matching of out-going and in-coming foreign exchange and fixed deposits confirmations).
- The Botswana Interbank Settlement System (BISS) Operations Unit is charged with the administration, management and operation of the Botswana Interbank Settlement System, the sole settlement system in the country, mandated by the NCSS Act, 2003. Linked to the SWIFT platform, the BISS provides a secure and robust settlement environment of high value and time critical payments, and works efficiently on a finality and irrevocable settlement basis. The BISS Unit provides a collateralised credit facility (Intra-day Lending Facility) to meet liquidity shortfalls during the day. The BISS also imposes transactions charges and penalty levies on participants, which are billed automatically on a monthly basis. The BISS operates at stipulated times; 0800 hours to 1730 hours with initial cut-off at 1530 hours and final cut-off at 1700 hours.
Ms E T Rakhudu
Ms K Ntsatsi
Ms A Tebogo-Maruping
Tel: (267) 360 6026
Fax: (267) 391 2101
BoBC Auction Results (August 14)
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DCI lost 6.16 percent year-to-date
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