Mmegi

Cash remains king in local economy

Friday, February 28, 2025 | 480 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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