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The Bank of Botswana has announced changes to the country’s electronic funds transfer (EFT) clearing and settlement framework that will allow customers to receive interbank payments faster, with the reforms taking effect from 1 February 2026.
Under the new framework, the central bank will introduce an additional weekday settlement window at 5pm in the Botswana Interbank Settlement System (BISS), increasing the number of daily settlement cycles from three to four. Clearing and settlement will now take place at 9am, 12 noon, 3pm and 5pm across the Botswana Automated Clearing House (BACH) and BISS.
The central bank said the additional window is intended to address operational bottlenecks observed under the existing system, including end-of-day settlement backlogs and liquidity management constraints at commercial banks. By extending settlement hours, the Bank expects fewer transactions to remain pending at close of business and quicker crediting of customer accounts.
In a further move aimed at improving customer experience, all commercial banks will now be required to credit beneficiaries’ accounts immediately after each settlement cycle, and no later than 60 minutes after receiving settlement confirmation. Once settlement finality is achieved, funds must be made available to customers within the prescribed processing timeframe, the Bank said.
The enhancements will be implemented by all commercial banks licensed and supervised by the Bank of Botswana, working with the Bankers Association of Botswana through BACH. According to the central bank, the reforms form part of its broader efforts to modernise the national payments system and support the objectives of the Botswana Economic Transformation Programme.
The Bank said the changes are expected to improve the timeliness of funds availability for customers, strengthen liquidity flow across the financial system and enhance overall operational efficiency and market responsiveness.
The reforms also align with the Bank of Botswana’s statutory mandate to promote a safe, efficient and effective national payments infrastructure, it added