January 19, 2009

A local brokerage firm, Motswedi Securities, has warned of a full-blown impact of the global financial crisis on the country’s foreign exchange reserves, pension funds and the mining sector as the crisis deepens across the world.

In its review for the year 2008, the firm said “there is no doubt that the global financial crisis” has impacted on the three aforementioned areas but added that the local banking sector still remains sound due to adequate capitalization and prudent monitoring from the regulators.