The 2024 Botswana Fintech Landscape Mapping Survey provides a data-driven assessment of Botswana's digital financial services ecosystem, revealing a sector undergoing rapid transformation. While notable progress has been made in digital payments and lending, structural imbalances persist, particularly the uneven adoption of advanced technologies and limited participation of non-bank institutions. Licensed institutions in the banking and EPS/MVTS segments have led fintech adoption, leveraging APIs and cloud computing to drive scalability and interoperability. However, the low uptake of AI/ML and DLT signals significant untapped potential. Risk exposure linked to APIs and cloud computing further reinforces the need for robust cybersecurity frameworks, data protection policies, and third-party risk management practices.
Beyond technology risks, the absence of Digital Transformation Strategies in many institutions raises concerns about the financial services sector's long-term strategic coherence. The lack of an Open Banking framework further limits the potential for data sharing and collaboration between banks, non-banks, and third-party providers consistent with provisions of the Digital Services Act (2025). More broadly, the fragmented nature of fintech developments across the ecosystem points to the need for a coordinated National Fintech Strategy to align regulatory, institutional, and innovation efforts under a common direction.
Access report here: The 2024 Botswana Fintech Landscape Mapping Survey Report - Abridged