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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.

'Face to face with the man who tried to kill me'

Couple perishes in suspected 'passion killing' crash

Dimajwe duo arrested after missing assault victim found buried

Dikoloti escapes injury after car hits cow

Five-year-old boy hospitalised after road accident in Mogoditshane

UDC rolls out 'promised' child grant

BPF to hold first youth, women congresses

Of borrowed wheels and brand new GD6

Two-tier education system demands action