Botswana's competitive banking system is one of Africa's most advanced. Generally adhering to global standards in the transparency of financial policies and banking supervision, the financial sector provides ample access to credit for entrepreneurs. The Capital Bank opened in 2008. , there are a dozen licensed banks in the country. The government is involved in banking through state-owned financial institutions and a special financial incentives program that is aimed at increasing Botswana's status as a financial centre. Credit is allocated on market terms, although the government provides subsidised loans. Reform of non-bank financial institutions has continued in recent years, notably through the establishment of a single financial regulatory agency that provides more effective supervision. The government has abolished exchange controls, and with the resulting creation of new portfolio investment options, the  Botswana Stock Exchange is growing.