Bureaux de Change are entities licensed under Bank of Botswana Act (Cap 55:01) to carry on the business of buying and selling foreign currency. Such licenses are necessary so that the public has confidence that the businesses are operating prudentially according to sound business practices. The bureaux are supervised, including with regular on-site visits by Bank of Botswana staff and are expected operate in accordance the Bank of Botswana (Bureaux de Change) Regulations of 2004. It is illegal for businesses to trade foreign exchange without a licence.
At the end of 2009, a total of 52 bureaux de change were licenses to operate in Botswana. A list of these can be found in the Directory of financial Institutions Operating in Botswana, published by the Bank of Botswana. The award of new licenses or cancellation of existing licenses is made through press releases issued by the Bank.
Directory of Financial Institutions Operating in Botswana
Trading activity by bureaux de change has been increasing rapidly (see chart), and at the end of 2008 assets totalled P22.9 million. More detailed information on the activities of bureaux de change operating in Botswana can be found other Bank of Botswana publications (notably the Banking Supervision Annual Report).
Aggregate Sales and Purchases of Foreign Exchange by Bureaux de Change, 2004 - 2008