Statistics Botswana and NBFIRA sign of MoU

Friday, March 17, 2017

Statistics Botswana and NBFIRA sign of MoU

 

By Golebaone David

 

The recognition of the service that Statistics Botswana (SB) and Non-Bank Financial Institutions Regulatory Authority (NBFIRA) provide to Batswana goes a long way in the wider development of statistics in our country and will continue to place Botswana in a better position in terms of progress made on the development of quality statistics. This was said by Acting Statistician General Dr. Burton Mguni in his key remarks at the signing of Memorandum of Understanding (MoU) on the 15th March 2017 at Masa square hotel in Gaborone.

 

Dr. Mguni pointed out that signing of this MoU will provide a clear framework for the two parties to cooperate and communicate constructively in order to improve the breadth and quality of data collected by the two agencies.

 

He further said SB will continue the strategic dialogue on the joint priorities, at all levels, so that they can complement and leverage each organization’s comparative advantage to the benefit of the country's development.

 

For his part, NBFIRA Chief Executive Officer Mr. Oaitse Ramasedi said that the process of establishing formal cooperation between the two organizations started in 2013 and the signing of MoU is the culmination of that process.

 

“SB’s effort to collect data becomes impossible without data from sectors regulated by NBFIRA, hence the reason for this agreement is crucial”, he said.

 

Furthermore, Mr. Ramasedi said the collaboration will help equip both organizations with insight on issues of common interest such as;

 

•Continuing viability of sector data in order to protect consumers of financial services;

•To determine the market size of regulated entities and their contribution to our country’s GDP.

 

•To determine sector growth and other market variables which can further give us indicators of possible market failures when numbers of consumer products uptake dwindles.

Meanwhile, SB manager for National Statistical System Ms. Koontse Mokgwathi, revealed in an interview that so far SB has signed MoU’s with other two organizations namely; Botswana Unified Revenue Service (BURS) and Human Resource Development Council (HRDC), thus NBFIRA became the third partner to collaborate.

 

Ms. Mokgwati also explained the purpose of the MoU which she said are to;

·         Provide a platform for dialogue, and information exchange, capacity building and research between parties in matters of mutual interest subject to legislative provisions.

·         MoU’s also provides a framework for parties to cooperate and communicate constructively in order to carry out their independent statutory responsibilities.

·         And the cooperation and communication benefits parties by contributing efficiently and effectively to the provision of official statistics through data sharing arrangements amongst others.