18 Nov 2025

The signing of a Memorandum of Understanding (MoU) between Botswana Institute of Chartered Accounts (BICA) and the Botswana Institute of Banking and Finance (BIBF) has been described as a leap towards strengthening professional development initiatives within Botswana’s financial sector.

BICA Chief Executive Officer (CEO), Mr Oaitse Gabadirwe said at the MoU signing ceremony in Gaborone on November 14 that the ratification would allow a strategic alliance built on shared vision for a more resilient, ethical and prosperous Botswana.

The agreement means that the two organs will no longer operate in silos but rather as a powerful, collaborative force.

The core of the partnership will be joint development and award of two critical, nationally recognised certifications being; The Certified Anti-Money Laundering Officer (CAMLO) and the Certified Data Protection Officer (CDPO).

Mr Gabadirwe said promoting ethical conduct and regulatory compliance would reinforce the profession. He said the partnership was a natural and necessary convergence of two pillars of Botswana’s financial integrity.

"This collaborative effort would elevate the professional standards across both sectors, fostering greater public trust, which is quite important,” he said.

He said the true success of the partnership would be measured by its contribution to the economic landscape. Mr Gabadirwe also said the certification would empower the generation of professionals to protect the valuable economy ensuring Botswana’s businesses and public institutions complied with the Data Protection Act.

He further said the initiative they were taking was about creating a robust financial governance framework that attacked rather than repel foreign investment. Mr Gabadirwe said a secure and well-regulated financial environment was a cornerstone for sustainable economic growth and diversification.

For his part, BIBF Managing Director (MD), Mr Molaodi Menyatso said the collaboration will include joint workshops, seminars, certification programs that liberated the expertise of both BIBF and BICA.

Mr Menyatso said that by pulling resources and knowledge together, the aim was to create a more competent workforce to meet the demand of the increasingly complex global economy.

He said together they could achieve remarkable outcomes that would contribute to the overall growth of the national economy and cultivate a culture of excellence and innovation. BOPA