Press release: Bank Of Botswana to Introduce New Coins

The public is informed that the Bank will introduce a new family of coin in the first quarter of 2014. The introduction of the new coin follows a comprehensive review of the national currency, in this case Botswana coin. This is in line with international norms where currency is reviewed and updated periodically to take account of latest technology trends and security features. Indeed, in designing and minting the new family of coin, the Bank accessed the latest technology in the industry with a view to producing good quality coin.

The new family of coin has retained the seven denominations; viz; 5 Pula, 2 Pula, 1 Pula, 50 thebe, 25 thebe, 10 thebe and 5 thebe. The detailed shapes and features of the coin will be published shortly in posters and related media.

The current coin will be exchanged for new coin and/or bank notes at commercial banks over a period of six (6) months following the launch of new coin. What will then be old coin will be demonetised and exchangeable for equivalent value only at
the Bank of Botswana in Gaborone and Francistown for a period of five (5) years.

Members of the public are requested to familiarise themselves with the features of the new coin, once they are in circulation.

For further information, please contact: Mr Andrew O Sesinyi, Head of Communications, Tel: 3606083

Be the boss of your wallet Part 1

 This is one of my old articles, hope you find it useful. Happy reading :)

Be the boss,dont let it be the boss

Often times many of us are overwhelmed by money and end up losing control of how to manage it. This article serves to provide the most basic and practical ways on how to boss your wallet and gain your financial freedom. Regardless of when you begin, the basics remain the same.

1. Get Paid What You are Worth and Spend Less Than You Earn
Make sure you know what your job is worth in the market. Evaluate your skills, productivity, job tasks, contribution to the company, and the going rate, for what you do. Establish your worth, don’t settle for less. You will never go anywhere if you spend more than you earn. Spend less and cut unnecessary costs. This can result in big savings just try it. Start with simple things, its self discipline at the end of the day.

2. Stick to a Budget
As cliché as it may sound, the fact remains; you will never know where your money is going if you don't budget. Your spending and savings goals will just be other goals if you don’t know what you are using your money for. You need a budget whether you make hundreds or thousands of pulas a year.

3. Pay Off Credit Card Debt
Credit card debt is the number one obstacle to getting ahead financially. Credit cards are so easy to use, and often make us forget that we are signing up for unnecessary debts. Make sure to pay the balance off quickly to avoid ending up paying far more than you would have if you used cash.

4. Contribute to a Retirement Plan
Retirement plan is one of the best deals out there honestly. Employers usually have these plans in place. Get more information about this exciting plan that can get you to be a 60 year old baller. Ask your employer if they have a retirement plan and sign up today. If you're already contributing, try to increase your contribution. If your employer doesn't offer a retirement plan, look for a financial planner in town who will hook you up.

5. Have a Savings Plan
“Pay yourself first!” Don’t wait until you've met all your other financial obligations before seeing what's left over for saving. Resolve to set aside a minimum percentage of your salary for savings before you even start paying your bills. Better yet, have your savings stop order in place. Little droplets fill the mighty ocean remember.

By implementing these basic yet profound tips, you will soon be soaring like an eagle my friend.