Botswana’s adoption of digital assets remains at an early and fragile stage, constrained by low financial literacy, weak trust and regulatory uncertainty, according to the Absa Digital Assets Insights 2025 report.
The study, conducted by research firm Krutham on behalf of Absa, found that while awareness of digital assets such as cryptocurrencies, stablecoins and blockchain-based applications is growing in Botswana, actual usage remains limited across both individuals and businesses. Education gaps, fears of scams and a lack of clear regulatory frameworks continue to weigh heavily on adoption decisions.
Interviews with businesses across sectors revealed that only 18% of respondents described themselves as “very familiar” with digital assets, while 43% said their understanding was limited. More than a third of individuals, and 40% of businesses, reported never having used digital assets for payments, investments, remittances or savings.
Participants repeatedly cited negative early experiences, particularly exposure to scams during initial crypto hype cycles, as a key reason for persistent scepticism. Several respondents said their first encounters with digital assets were “dominated by scammers,” shaping long-lasting mistrust of the ecosystem.
Despite this, sentiment towards the technology itself is not entirely pessimistic. Many respondents acknowledged the potential of digital assets to improve cross-border payments, speed up transactions and expand access to global markets. In fact, 61% of Botswana respondents agreed that digital assets could significantly improve cross-border payment efficiency, the highest level of agreement across the five African markets surveyed.
Use cases identified as having the strongest potential in Botswana include remittances, international trade, investment products and, in the longer term, applications in insurance, land registration, tourism, mining and the creative industries. However, the report notes that these opportunities will remain largely theoretical unless trust and regulatory clarity improve.
Botswana’s regulatory environment was described as “open but uncertain”. While some participants welcomed regulators’ willingness to engage with innovation, most stressed that clearer licensing rules, consumer protection measures and compliance frameworks are needed before digital assets can gain mainstream acceptance. Government recognition and legal certainty were repeatedly cited as prerequisites for wider adoption.
Banks were identified as central to any future growth in the sector. Respondents viewed traditional financial institutions as the most trusted players capable of mainstreaming digital assets, provided they take an active role in education, security assurance and platform integration.
The report concludes that for digital assets to move beyond niche interest in Botswana, stakeholders must prioritise broad-based financial education, stronger collaboration between banks, fintechs and regulators, and visible, practical pilot projects in high-impact sectors. Without these interventions, adoption is likely to remain cautious, fragmented and vulnerable to misinformation.