On Friday, 15 August 2025, the Banking Act No. 8 of 2023 came into force.
The Act has officially reshaped Botswana’s financial landscape, repealing the 1995 Act and introducing a modern, risk-sensitive, and governance-driven framework.
Key highlights of the new Act include:
- Wider scope – covering banks, deposit-taking institutions, and cross-border entities.
- Prohibition of foreign branches – ensuring stronger local oversight.
- Robust governance – mandatory board committees and enhanced accountability.
- A new resolution regime – tools to manage failing banks without destabilising the system.
- Stronger risk management – early intervention, recovery plans, and biometric reporting.
- Independent Appeals Tribunal – offering impartial recourse for regulatory disputes.
- Alignment with Basel & IFRS – positioning Botswana as a credible player in global finance.
The new Act is more than just a reform – it represents a strategic recalibration of Botswana’s financial regulatory architecture. For banks, investors, and businesses, it sets a new standard for compliance, stability, and transparency.
Our Commercial Team at Armstrongs, LEX Africa’s member in Botswana, are ready to help you navigate these changes and ensure full compliance with the new framework:
Sipho Ziga (sipho@armstrongs.bw)
Simon Bathusi (simon@armstrongs.bw)
Ada Mgadla (ada@armstrongs.bw)
Kago Boiki (kago@armstrongs.bw)Refilwe Nfila (refilwe@armstrongs.bw)
