Banking, Money and Taxes in Botswana

The financial sector in Botswana is a growing industry, and the country's national stock market is among the best performing in Africa. The Botswana Stock Exchange (BSE) is based in the capital city of Gaborone, and some of the biggest companies doing business in the country are listed. 

Several global entities are investing in Botswana's economy, encouraged by its lack of exchange controls and fairly liberal economic policies. Thanks to the country's sophisticated financial systems, managing your money, banking, and taxes in Botswana will be simple. 

Money in Botswana

The currency in Botswana is the Pula, abbreviated as BWP. There are 100 thebe to one pula. US dollars and euros are accepted in major hotels and other businesses that cater to international tourists, but you should expect to use pula for all day-to-day transactions.

• Notes: BWP 10, 20, 50, 100 and 200
• Coins: BWP 1, 2 and 5; and 5, 10, 25 and 50 thebe

Currency can be exchanged at banks, licensed moneychangers, airport terminals and some hotels.

Banking in Botswana

The Bank of Botswana is the country's central bank, but a selection of local, regional, and international banks are also available. These include Bank Gaborone, First National Bank, and Standard Chartered.

Most expats who live in Botswana usually have a local account for daily expenses such as paying utility bills and buying groceries, while keeping an offshore account for savings. 

You can easily open a personal account at any local bank. Most banks offer a full spectrum of services that include debit and credit cards, online banking and specialised investment services.

Banking hours are typically 9am to 3pm or 3.30pm from Monday to Friday, with some branches open on Saturday mornings.

As an expat, you shouldn’t have a problem finding English-speaking tellers or consultants. Language in the country shouldn't pose a major culture shock if you're an English-speaking expat.

Credits cards and ATMs

Some major international credit cards, including Visa and Mastercard, are widely accepted in Botswana. That said, you may be unable to use your American Express and Diners Club cards in the country. Many petrol (gas) stations and some shops outside the cities still only accept cash, so it’s useful to carry some with you at all times.

Bank branches are plentiful, especially near busy shopping areas. ATMs are just as widely available in Botswana's cities, and most larger stores accept debit and credit cards.

Taxes in Botswana

The tax system in Botswana changes often and can be tricky for you as an expat to navigate on your own. For this reason, we encourage you to hire a specialist with detailed knowledge of the country’s tax system and experience working with expats.