The Bank of Botswana published operational enhancements to the clearing and settlement framework for Electronic Funds Transfers (EFTs), requiring changes by all commercial banks it licenses and supervises and by the Bankers Association of Botswana through the Botswana Automated Clearing House (BACH). The measures are designed to improve the efficiency of clearing and settlement and speed up customer access to funds across the banking system. A fourth weekday settlement window will be added in the Botswana Interbank Settlement System (BISS) at 1700 hours, increasing BACH and BISS clearing and settlement cycles from three to four daily windows at 0900, 1200, 1500 and 1700. Banks must also credit beneficiaries’ accounts immediately after each clearing and settlement cycle and no later than 60 minutes after receiving cleared funds or settlement confirmation once settlement finality is achieved. The changes take effect on 1 February 2026.
Bank of Botswana 2025-12-31
Bank of Botswana adds a fourth daily interbank settlement window and mandates faster EFT crediting
The Bank of Botswana announced enhancements to the clearing and settlement framework for Electronic Funds Transfers, mandating changes for all licensed commercial banks and the Bankers Association of Botswana. A fourth weekday settlement window will be added to the Botswana Interbank Settlement System, increasing daily cycles to four. Banks must credit beneficiaries' accounts immediately after each cycle or within 60 minutes of settlement confirmation.