Botswana CBDC Tracker

Botswana is currently in the research phase of its central bank digital currency (CBDC) development. In July 2025, Bank of Botswana official Ruth Baitshepi said, “The Bank is still at an initial stage of the exploration of the central bank digital currency.”

Current human rights and civil liberties concerns in Botswana include sweeping surveillance and restrictions on opposing voices. For example, “A law enacted in February that gave security forces broad wiretapping powers and the ability to carry out unchecked undercover law enforcement operations, faced widespread condemnation from civil society over an encroachment on civil liberties.” A CBDC could be used to greatly expand surveillance by putting financial records on government databases by default.

CBDC History and Development

The Bank of Botswana’s 2021 annual report said the the central bank was exploring CBDCs as a “a cheaper and safer alternative to fiat currency and current electronic payments solutions.”

In 2022, Bank of Botswana spokesperson Seamogano Mosanako said the central bank was looking at the impact that a CBDC would have on financial stability, monetary policy, regulation, and development.

The Bank of Botswana’s 2024 annual report noted that the central bank “has initiated a CBDC exploration journey under the Digital BoB 2024 strategy, conducting research, training, and benchmarking efforts, including learning from the Central Bank of the Bahamas.” The central bank also established a “multidisciplinary CBDC Working Group” to assess “feasibility, infrastructure, legal frameworks, and the potential impact of a CBDC before making an adoption decision.” Throughout the annual report, the central bank repeatedly stressed concerns about a CBDC leading to spillover effects, disintermediation, currency substitution.

In July 2025, Bank of Botswana official Ruth Baitshepi said, “The Bank is still at an initial stage of the exploration of the central bank digital currency.” She explained that research is currently ongoing as the central bank works to assess whether there is a need for a CBDC. Bank of Botswana official Tobedza (Moss) Mosetsanagape added that “We are continuing on the journey to make sure we place the pula in the digital world as legal tender.”

Human Rights and Civil Liberties Concerns

Botswana earned a 72 out of 100 in Freedom House’s 2023 Freedom in the World report. Although it has scored well on many metrics, Botswana has serious issues with sweeping surveillance and restrictions on opposing voices. The issuance or adoption of a CBDC in Botswana could worsen these issues.

According to the U.S. Department of State, “A law enacted in February that gave security forces broad wiretapping powers and the ability to carry out unchecked undercover law enforcement operations, faced widespread condemnation from civil society over an encroachment on civil liberties. The law allows authorities to conduct wiretaps, compels communications companies to provide access and share data under threat of prosecution, allows for the creation of fake identifications in the national register, and gives authorities immunity on actions related to undercover operations.” Unfortunately, a CBDC could be used to greatly expand surveillance by putting financial records on government databases by default.

Insulting public officials or national symbols is a crime in Botswana. According to the U.S. Department of State, the law states that “any person who insults the country’s coat of arms, flag, presidential standard, or national anthem is guilty of an offense and may receive a substantial monetary fine under the sedition clause.” Unfortunately, a CBDC could be used as another tool in this effort. Across the world, governments have often turned to freezing and seizing the money of activists, political rivals, and protestors to undermine the opposition. A CBDC would make such initiatives easier by allowing governments to take direct control of each citizen’s finances.

For additional information on concerns regarding violations of human rights and civil liberties, see the following reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute: The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.

For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.