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 —
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) is ready to help you navigate these changes and ensure full compliance with the new framework.
