Source: https://rivet.global/blog/botswana-companies-foreign-payments-no-exchange-controls
Published: 2026-11-02 · Updated: 2026-11-02 · By Rashidatou K.

# Botswana companies receiving and making foreign payments without exchange controls

Botswana abolished exchange controls in 1999. How Botswana companies collect from clients abroad, hold dollars and rand, and manage the pula's crawling peg.

## Key takeaways

- Botswana abolished exchange controls in 1999; companies can hold foreign currency and pay abroad freely.
- The pula follows a crawling peg against a basket of the South African rand and the IMF's SDR.
- Many Botswana companies buy from South Africa in rand and earn some revenue in dollars.
- Holding rand and dollars avoids converting twice for regular suppliers and clients.

A Gaborone construction supplies company buys most of its stock from South Africa in rand and sells to mining and government clients in pula, with some contracts in dollars. It holds rand to pay suppliers and dollars from its dollar contracts. Botswana's lack of exchange controls makes that simple.

## No exchange controls

Botswana abolished exchange controls in 1999. Companies can hold foreign currency accounts, receive payments from abroad, pay suppliers abroad and hold accounts outside Botswana, subject to normal banking checks.

## The pula's crawling peg

The Bank of Botswana manages the pula through a crawling peg against a basket of the South African rand and the IMF's Special Drawing Rights. The weights and the rate of crawl are set each year. The pula therefore moves with the rand to an extent, and against the dollar more.

## Matching currencies

1. Pay South African suppliers in rand from a rand balance.
2. Pay dollar costs from dollar revenue.
3. Convert the surplus to pula ahead of payroll.

## Where Rivet fits

A Rivet business account accepts registered companies after verification, including Botswana companies. Approved companies get US account details on every plan, euro and sterling details from the Growth plan, and on Scale balances in 30 currencies. Suppliers in 120+ countries can be paid at a rate shown before you confirm. Rivet is not a bank; regulated partner institutions hold the funds.

See [the ZAR business payments guide](/blog/zar-business-payments).

## Questions

### Does Botswana have exchange controls?

No. Botswana abolished exchange controls in 1999.

### How is the pula managed?

The Bank of Botswana runs a crawling peg against a basket of the rand and the SDR, with weights and a rate of crawl set annually.

### Should Botswana companies hold rand?

If they buy regularly from South Africa, yes. Paying rand from a rand balance avoids conversion each time.

### Can Botswana companies hold accounts abroad?

Yes. Without exchange controls, companies can hold foreign accounts, subject to normal banking checks.