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      Tumisang Orebonye: Overcoming Against Adversity to Reach for the Stars

      ‘Winning The CAF Super Cup Is A Dream Come True’ – Orebonye

      BAA Needs Over P3m For World Champs

      Botswana’s Sporting Future in Jeopardy: School Sports Suspension Threatens Athletic Excellence

      No House For Tebogo Despite Astral Performance in Budapest

      “No Pressure for Tebogo at Diamond League Finals”

      BOKA Aims to Host Two Prestigious International Karate Competitions

      BOKA Aims to Host Two Prestigious International Karate Competitions

      FM Botswana 2022 conference: transformation towards a greener FM 

      StanChart CEO Underscores Role of UB Marathon in Boosting Botswana’s Sports Tourism

      No House For Tebogo Despite Astral Performance in Budapest

      No House For Tebogo Despite Astral Performance in Budapest

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      AADFI rates BDC among the best performing ADFIs

      The results and rating obtained indicate the level of the institution's compliance with best standards and practices in the areas assessed.

      mm by Staff Writer
      March 21, 2022
      in News
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      BDC participates at the Expo 2020 Dubai

      Cross Kgosidiile, Managing Director at BDC

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      Botswana Development Corporation (BDC) participated in the 2021 AADFI 11th peer review exercise and recorded a compliance index of 91 percent (a BB rating) against the Prudential Standards, Guideline and Rating System (PSGRS) administered by the Association of African Development Finance Institutions.

      The PSGRS is a reference tool (a system of reference) and an integrated rating system adopted by consensus in 2008 by the African development finance institutions, under the auspices of the African Development Bank (AfDB). The system of reference comprises 100 standards and prudential guidelines in the areas of governance (39), financial management (30), and operational management (31). The purpose of the assessment is to assist the institution to identify areas of weakness to take corrective measures to address them.

      The results and rating obtained indicate the level of the institution’s compliance with best standards and practices in the areas assessed. The exercise saw participation from 37 Development Finance Institutions (DFIs) in Africa. The overall compliance performance indicates the degree of integration in the policies, strategies, and procedures of the participating DFIs, of the relevant AADFI prudential standards and guidelines, as well as national and international best practices under the code or accounting system, the regulation of the Central Bank, the Basel agreements, and the International Financial Reporting System (‘IFRS’) or e International Sustainability Rating System (‘ISRS’) standards. “This AADFI rating reflects above all the achievements of the profound transformations observable and in working order within the Corporation. It also offers BDC advice on specific areas of improvement, which the Corporation is committed to, in order to maintain profitability, competitiveness and sustainability” said Managing Director Cross Kgosidiile upon delivery of the results to BDC.

      AADFI is an umbrella organisation for development finance institutions in Africa, created under the auspices of the African Development Bank in 1975. The objectives of the Association are to stimulate cooperation for the promotion and financing of sustainable development in Africa and to encourage the process of economic integration in the African region.

      Tags: Botswana Development Corporation (BDC)Cross Kgosidiilethe African Development Bank (AfDB)

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