Wednesday, December 11, 2019 | 11:04 AM

Consumer Protection

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Consumer protection is of great importance to the Bank of Botswana. Banks are deposit-taking institutions, and a fundamental objective of licensing, regulation and supervision undertaken by the Bank of Botswana is to ensure that the deposits of the banks' customers (that is, consumers) are secure. The solvency of both individual banks and the financial system as a whole is essential for this.

But consumer protection has other dimensions, most notably service quality. For this reason the Bank is in regular contact with the institutions that it supervises with a view to supporting improvements in both the range and cost of services.

Inevitably, there will be occasions where customers will have problems with their banks. In such instances, they should first try to resolve the issue through that bank's internal complaints procedure. (All licensed banks are required to have a process through which complaints are registered and addressed while, in 2011 the Bankers Association of Botswana introduced a common code of conduct.) If the customer is still not satisfied with the response of the bank, they can also take their complaint to the Office of the Banking Adjudicator (OBA). The OBA was established in 2002 at the initiative of the banking sector to  help resolve disputes between banks and their clients. The contact details are:

Postal: P/Bag 00404, Gaborone Physical: Plot 184, 1st Floor
Tlale House, 
Main Mall, Gaborone
Tel: 393 5409 Fax: 393 5406
Email: Website:

If necessary, serious complaints may be reported to the Banking Supervision Department at the Bank of Botswana where a member of the Department's senior management is directly responsible for issues relating to consumer affairs.

Consumers are also reminded that there is now a wide range of commercial banks operating in Botswana. These banks offer a wide range of products and services. Consumers should compare these and, if necessary, not be deterred from taking their business to another bank if it offers more appropriate services for their particular needs.

Finally, the Bank of Botswana undertakes a range of public education activities, many of which are aimed at improving consumers' understanding of money and banking activities, thus contributing to their protection.

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