The Bank of Botswana (BoB; ) is the central bank of Botswana.
When Botswana gained independence from Britain in 1966, the country was part of the Rand Monetary Area (RMA).[3] In 1974 Botswana withdrew from the RMA, and the Bank of Botswana and Financial Institution Acts established the legal framework for a central bank in Botswana to be established in July 1975, with Christopher H. L. Hermans as the first Governor.[3] The pula was launched as a national currency in 1976, and in 1977 the Bank of Botswana became the government banker.[4]
The Bank manages Botswana's sovereign wealth fund, the Pula Fund.
History
The Bank of Botswana was established by a decision to withdraw from the Rand Monetary Area (RMA) under which the South African rand had been the legal currency in Botswana since independence in 1966. In 1973 Sir Seretse Khama appointed a Monetary Preparatory Commission. The decision to withdraw from the RMA was announced by the President in September 1974.