Botswana First in Africa to Hike Rates Since War as Inflation Seen Soaring

Botswana became the first African central bank to raise interest rates after the Iran war triggered a global energy shock, with inflation seen more than doubling this month.

The monetary policy committee lifted the key rate to 5.5% from 3.5% Governor Lesego Moseki told reporters at a briefing in the capital, Gaborone, on Thursday.