11 Aug 2026

Members of Parliament have been commended for their patriotism and commitment to enhancing the integrity of the country’s financial system.

Appreciating the MPs sentiments of support following his presentation on the Financial Intelligence (Amendment) Bill in Parliament on Monday, the Vice President also Minister of Finance Mr Ndaba Gaolathe encouraged legislators to protect Botswana at all costs.

He said with an adverse outcome, investors would price Botswana as a higher compliance-risk jurisdiction.

He commended the legislator’s input on national issues, noting that it was important to recognise and nature Botswana’s participation in the global financial system. 

Mr Gaolathe said he was ready to give further guidance as Parliament worked collaboratively on the Financial Intelligence Amendment Bill of 2026. 

He said the financial system globally, imposed specific standards and expectations, including the Financial Action Task Force (FATF) ecosystem, which established such standards at a macro level. 

Gaborone Bonnington North, also Assistant Minister for State President, Defence and Security, Ms Maipelo Mophuting-Dikoloti in her support of the Bill said the amendment underscored the fact that modern security necessitated robust financial intelligence to counter organised crime and terrorism, which relied on financial resources. 

Therefore, she said the inclusion of counter-proliferation financing within the Act enabled authorities to disrupt financial flows associated with such activities. Additionally, she said the Bill enhanced coordination among the National Coordination Committee on Financial Intelligence and various investigative and regulatory bodies, acknowledging that a unified approach was vital for effective action against financial offences. 

Ms Mophuting-Dikoloti said the need for national risk assessments to address the changing landscape of financial crime, including the rise of account takeover fraud, further emphasised the Bill’s importance in adapting to technological advancements in business and finance. 

For his part, Mmadinare MP, Mr Ketlhalefile Motshegwa said the amendment would help Botswana comply with FATF standards. He added that government institutions should be capacitated to effectively implement the objectives of the amendment. 

In addition, Mr Motshegwa who is also the Minister of Local Government and Traditional Affairs, said the nature of Botswana democracy should be aligned to national policy frameworks, good and governance. He said implementing the objective of the Bill would contribute to the economic landscape of Botswana, as investors would be lured into the country.

Tlokweng MP, Mr Phenyo Segokgo said Parliament should manage predictability of such laws and have proper framework of domesticating them. 

He also called for centralised communication when it comes to financial issues, saying a clear communication should come from the Ministry of Finance. He said communication in Botswana had never been an asset and that had derailed public confidence in government. 

Furthermore, Mr Segokgo encouraged government to invest on human capital; particularly those who interfaced on these issues. 

He urged for basic training of all law enforcements officers as well as those on the frontline regarding financial crime issues.

 Similarly in support of the Bill, the MP for Chobe Mr Simasiku Mapulanga said indecisiveness of implementation was what put the country’s reputation at stake. Therefore, he urged the minister to amend the Bill with the intention to further enhance public confidence. ENDS