Privately-owned Banks operating in Botswana are licensed by the Bank of Botswana according to the provisions in the Banking Act (Cap 46:04, section 4) which lists the criteria that must be complied with before an application for a banking license can be approved. This is for the purposes of supporting financial stability through ensuring that only sound and reputable banks can operate in the country.
Banks currently licensed and operating in Botswana are listed below. More information, including details and branch networks can be found in the Directory of Financial Institutions Operating in Botswana, published by the Bank of Botswana. The award of new banking licenses or changes in the conditions of existing licenses is made through press releases issued by the Bank.
Directory of Financial Institutions Operating in Botswana
These are entities licensed to conduct banking business. The Banking Act defines banking business as the acceptance of deposits of money repayable on demand, after fixed periods or after notice, as the case may be, by cheque or otherwise. Banking business also means the employment of deposits in the making or giving of loans, advances, overdrafts or other similar facilities, and in the making of investments or engagement in other operations authorised by law or under customary banking practice, for the account of, and at the risk of the person or persons accepting such deposits, and includes the discounting of commercial paper, securities and other negotiable instruments, for the purpose of extending loans or other credit facilities.
|African Banking Corporation of Botswana Limited(trading as ‘BancABC’)
||Private Bag 00303 Gaborone
|Bank Gaborone Limited
||Private Bag 00325
|Bank of Baroda (Botswana) Limited
||P O Box 21 ADD
|Bank of India (Botswana) Limited
||Private Bag 00111, Gaborone
|Barclays Bank of Botswana Limited
||P O Box 478, Gaborone
|Capital Bank Limited
||P O Box 5548, Gaborone
|First National Bank of Botswana Limited
||P O Box 1552, Gaborone
|Stanbic Bank Botswana Limited
||Private Bag 00168, Gaborone
|Standard Chartered Bank Botswana Limited
||PO Box 496, Gaborone
|State Bank of India (Botswana) Limited
||P O Box 505243, Gaborone
These are institutions licensed for the purpose of assisting with the issuance, purchase and trading of securities, managing financial assets and providing financial advice. Following the reclassification of BancABC as a commercial bank in August 2008, there are currently no merchant banks operating in Botswana.
More detailed information on the activities of banks operating in Botswana can be found either in other Bank of Botswana publications (notably the Banking Supervision Annual Report and the Botswana Financial Statistics) or in reports issued by the banks themselves.
Inflation remains at 3.3 percent in March
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