Africa in BusinessAfrica in Business

Batswana see a price jump on foodstuffs following the devaluation of the Pula

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Over a month ago, the government of Botswana adjusted the value of the national currency, the Pula, in response to growing economic pressures. The currency devaluation came amid a slump in diamond export revenues, Botswana's primary source of foreign exchange. The global downturn in diamond sales has heightened pressure on the Pula, which the government had been supporting through reserves. At the time, the country's Minister of Finance, Ndaba Gaolathe, cautioned businesses not to exploit the currency adjustment to raise prices unnecessarily. Thami Ngubeni spoke to Channel Africa's Correspondent in Botswana, Shingirai Madondo...

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