Botswana’s payments system is set for a material upgrade as the central bank rolls out reforms designed to speed up electronic funds transfers and improve liquidity across the banking sector, in a move that aligns the country more closely with international best practice in retail payments infrastructure.
In a press statement issued in December last year, the Bank of Botswana announced enhancements to the national clearing and settlement framework for Electronic Funds Transfers (EFTs), aimed at improving efficiency, reducing settlement backlogs and ensuring faster access to funds for customers.
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