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Cash remains king in local economy

Friday, February 28, 2025 | 490 Views |

Bird in hand: Many consumers still prefer using cold, hard cash PIC: MORERI SEJAKGOMO

The use of fiat notes or cash in Botswana grew by over 100% between 2011 and 2023, making the country an outlier as the world embraces newer payment technology, including cryptocurrencies.

The latest data is contained in a Bank of Botswana (BoB) research paper released recently.

Financial data extrapolated from 2011 as a base year shows that Batswana prefer to use cash as a means of transacting goods and services, with the local economy noticing a growing surge in the use of cash, whilst also seeing growth in its other payment forms such as Electronic Funds Transfer (EFT).

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Cash remains king in local economy

The use of fiat notes or cash in Botswana grew by over 100% between 2011 and 2023, making the country an outlier as the world embraces newer payment technology, including cryptocurrencies.

Gov't moves to close tax gaps

Chief judge promises fairness at tomorrow's Miss Botswana finale

High pressure mounts on fuel prices

We respect AFCON final decision – Babitseng

Court blow rocks BPF leadership

BPF moves to rebuild unity-Lucas

‘Reatile, Ookeditse deal was gentleman’s agreement’

Branch fires early warning shot as Portugal fuels title push

A promising step for public schools, but...