Commercial Retail Banks in Botswana

Learn about the top 5 banks operating in Botswana. A little about their history, how they started, their services, and how many branches they have.
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Maybe you are looking for a bank to open an account with, or just a list of banks in Botswana. This article presents the list of commercial banks in Botswana, which are an option for raising funds for your business venture.

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Table of Contents

Bank Gaborone Limited

Bank of Baroda (Botswana) Limited

ABSA Bank Botswana Limited     

First Capital Bank Limited

First National Bank of Botswana Limited

Stanbic Bank Botswana Limited

Standard Chartered Bank Botswana Limited

What is a Commercial Bank?

Commercial banks are financial institutions that accept deposits and generally have access to lower-cost sources of funding than other types of lenders, making it easier for them to lend at cheaper rates.

Generally, commercial banks take deposits from corporations, individuals, nonprofits, and governments. Banks offer checking accounts and savings accounts for consumers. Banks also provide term loans, mortgages, and lines of credit which benefit small businesses in need of larger loans.

Commercial Retails Banks in Botswana

Access Bank

Access Bank (formerly BancABC) is a financial institution with top credit ratings by Moody's and Fitch, respectively. It is part of the World's 500 most valuable banking brands, and its presence extends to Africa, Europe, and Asia.

With over 42 million customers, 2,900 ATMs, 9.8 million unique mobile and internet banking users, 50,000 point-of-sale terminals, and 58,000 agents in 675 branches across Nigeria, it is the largest bank in Africa by customer numbers.

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Bank Gaborone

Bank Gaborone serves both individuals and businesses. Bank Gaborone Limited is a subsidiary of Capricorn Group and the first greenfield operation in the history of the diversified Capricorn Group of companies.

The Group is listed on the Namibian Stock Exchange. In 2006, Bank Gaborone started providing retail banking services in Botswana. To date, Bank Gaborone operates through 9 retail banking branches, with  20 ATMs, and offers unsecured lending through 12 BG Finance across the country. Its clients also have access to insurance products through its sister company, BG Insurance Agency.

Bank of Baroda

Bank of Baroda Limited is a wholly-owned subsidiary of Bank of Baroda India. Present-day is an Indian state bank, founded in 1908 with 104 branches and a  presence in more than 26 countries, including Botswana.

The bank started its operation in 2001, with its first branch in Gaborone. The bank is the third-largest bank in India, with a network of over 9,800 branches in India, and more than 15,000 ATMs.


Absa Bank Botswana Limited is part of Absa Group Limited, an African financial services group. Formerly Barclays Bank, the bank was established in Botswana in 1950. Absa Group Limited is listed on the Botswana Stock Exchange and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent.

In Botswana, the bank has 32 branches and 114 ATMs across the country.

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First Capital Bank

In 2008, First Capital Bank Botswana Limited began commercial operations in Botswana. Now the bank has branches in Gaborone, Francistown, Mogoditshane, and Broadhurst. The Bank provides a full range of services in all major currencies and aims to achieve the highest standards of customer service.

First Capital Bank is affiliated with FMBcapital Holdings plc, which has a shareholding in First Capital Bank, with the remaining shares being held by local and international investors. The FMBCH Group also has banking operations in Malawi, Zambia, Mozambique, and Zimbabwe.

First National Bank

First National Bank Botswana (FNBB) is a wholly-owned subsidiary of First National Bank Holdings with its roots in First Rand Holdings. It first set foot in Botswana in 1991. FNB Botswana provides a full range of banking services to individuals, and businesses, through an array of technologically driven services. The bank is listed on the Botswana Stock Exchange.

FNB Botswana is the largest commercial bank in Botswana. FNB provides a full range of banking services to individuals, and businesses. FNB has a footprint of 24 branches across the country and 212 ATMs.

Stanbic Bank

The group has direct representation in 20 African countries. Stanbic Bank Botswana is part of the Standard Bank Group, Africa’s largest bank by assets. Standard Bank Group has approximately 1 200 branches and over 9 000 ATMs in Africa, making it one of the largest banking networks on the continent.

Stanbic Bank started operating in Botswana in 1992 and has grown since then. Stanbic Bank has a national footprint and serves its individual and corporate clients through 12 branch footprints, with 62 ATMs nationwide, and POS machines at various retailers.

Standard Chartered Bank

Standard Chartered plc is a British multinational banking and financial services company headquartered in London, England. It operates a network of more than 1,200 branches and outlets across more than 70 countries.

Standard Chartered Bank Botswana first opened for business in 1897, technically making it the country’s oldest bank. In 1956, the office got a full branch status and they have since had a national footprint.

The bank is listed on the Botswana Stock Exchange. Standard Chartered serves its customer through a network of 11 branches, 4 Express Banking Centres, and a 24-hour Client Care Centre.


The Botswana banking industry is growing in size and services. Eight commercial banks offer personal and corporate banking services to clients.  Botswana has a relatively small population of about 2.5 million, thus banks are forced to offer both commercial and retail banking to their customers.

Technology changes are making it easier to get access to financing in the country and reducing the cost of finances incurred by banks. They include a large workforce and other overheads that are reduced by the power of technology.

Frequently Asked Questions

How many banks are there in Botswana?

There are eight (8), private commercial banks in Botswana.

What Is Retail Banking?

Retail banking is banking that provides financial services to individuals and businesses. Retail banking is a way for individual consumers to manage their finances, they have access to credit, and can deposit their money.

Services offered by retail banks include checking and savings accounts, current, mortgages, personal loans, credit cards, and certificates of deposit (CDs).

Retail banking is also known as consumer banking or personal banking.

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Tumisang Bogwasi
Tumisang Bogwasi

2X Award-Winning Entrepreneur | Empowering Brands to Generate Leads, Grow Revenue with Business Strategy and Digital Marketing | Founder, CEO of Fine Group

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