10 Feb 2026

Government has established the National Coordination Office on Anti Money Laundering, Combating the Financing of Terrorism, and Proliferation Financing.

Minister of Finance, Mr Ndaba Gaolathe said during presentation of 2026/27 budget that this comes at a defining juncture as Botswana intensified preparations for the Eastern and Southern Africa Anti-Money Laundering Group Mutual Evaluation scheduled for January 2027.

He said the establishment of this office demonstrated government’s resolve to adopt a whole-of-government approach to financial crime risk management.

The office serves as the central mechanism for driving national coordination, strengthening inter-agency collaboration, and ensuring that Botswana’s legal, regulatory, and institutional frameworks fully comply with Financial Action Task Force (FATF) requirements.

Parliament also learnt that government has commenced the review of the Public Procurement Act, 2021, to align it with global best practices and strengthen transparency and accountability.

Mr Gaolathe said the review sought to improve efficiency, reduce delays, and create a deliberate and structured pathway for previously underrepresented groups, including local manufacturers and other key sectors, to participate meaningfully in public procurement without distorting the economy.

Other reforms, the minister said, include, the review of the Public Finance Management Act, that aims to strengthen accountability, oversight, management and control of public funds.

The Act would ensure compliance with international best practices, including anti-money laundering and counter-terrorism financing standards.

Mr Gaolathe said the review of the Financial Reporting Act, 2020 which commenced in October 2025 would also introduce regulatory measures to promote fair competition between multinational and local audit firms.

The Act would futher encourage joint audits between eight multinational and local audit firms for Public Interest Entities and empower the Botswana Accountancy Oversight Authority with adequate resources to conduct regular inspections of multinational firms.

Mr Gaolathe said the review of the Public Procurement Act, Public Finance Management Act and the Financial Reporting Act would be tabled during the 2026/2027 financial year.

He said the reforms aimed at addressing the declining performance on the global Corruption Perceptions Index. To this end, he said, urgent steps were being taken to operationalise the independence of the Directorate on Corruption and Economic Crime. BOPA