Botswana’s digital asset adoption remains significantly behind the pace seen in other African markets, slowed by mistrust, limited understanding and regulatory uncertainty, according to new findings from the Absa Digital Assets Insights 2025 report.
The report’s conclusions draw from a multi-country study that combined 105 in-depth interviews, a structured survey of 326 respondents, and six focus groups across South Africa, Mauritius, Botswana, Kenya and Ghana. Botswana’s insights were informed by 23 face-to-face and online interviews with businesses and professionals across key sectors. Researchers note that the study was conducted as a general market assessment rather than a bank-led consultation, to ensure responses reflected genuine sentiment rather than client expectations.
Within this framework, although the country has a progressive regulatory landscape via the Botswana Virtual Assets Act, it has emerged as one of the most cautious markets. Only 18% of surveyed Batswana described themselves as “very familiar” with digital assets, while 43% said they had only limited familiarity. A sizeable 34% reported that they had never used digital assets at all, not for payments, investments, remittances or savings.
Interviews show that historical exposure to online scams remains a powerful deterrent. Several participants recalled that when digital assets first appeared in local conversations around 2015, they were associated with fraudulent schemes. That early experience continues to influence perceptions today, with many respondents linking digital assets to vulnerability rather than opportunity.
A recurring theme across interviews and focus groups was the lack of accessible education. Many participants admitted they stayed away simply because they did not understand how wallets, exchanges or blockchain systems function. This gap between awareness and comprehension, the researchers note, feeds directly into a deeper problem: a pervasive lack of trust. As one participant put it, “I can’t trust digital assets, especially in this part of the world.”
Regulation surfaced as another central concern. While Botswana’s regulators have shown openness to financial innovation, respondents said they remain uncertain about the rules governing digital asset usage, consumer protection and dispute resolution. That uncertainty has left both individuals and businesses hesitant to transact, invest or accept digital payments.
Yet, despite these concerns, the research highlights areas where Botswana shows strong latent appetite. A striking 61% of respondents agreed that digital assets could improve cross-border payment efficiency, the highest level of agreement among all five countries studied. Respondents who had experimented with digital assets described the speed of transactions as a standout advantage, with funds frequently reflecting “within minutes.”
The report also points to growing interest in blockchain applications beyond cryptocurrency. Professionals interviewed in agriculture, insurance and creative industries noted the potential for transparent record-keeping, tokenised assets and international market access. The creative sector, in particular, sees NFTs as a promising avenue to reach global buyers.
While current usage is low, attitudes may soon shift. The survey found that 68% of Botswana respondents expect to increase their use of digital assets in the next one to three years, suggesting that hesitation is not the same as rejection. Rather, many Batswana appear to be waiting for the right conditions: clearer regulation, better consumer protection and intuitive, trustworthy platforms.
Businesses echoed these sentiments. Some spoke of uncertainties around converting digital assets into pula, while others expressed a preference for providers with a physical presence, arguing that in-person support remains important for building confidence in unfamiliar technologies.
The study concludes that Botswana sits at an early but pivotal point in its digital assets journey. With the right combination of education, regulatory clarity and trust-building, the country could move from tentative curiosity to meaningful adoption. Until then, digital assets are likely to remain at the margins of Botswana’s financial system, even as the rest of the continent accelerates into a new era of digital finance.