Money Matters

Botswana's unit of currency is the Pula (P), which is divided into 100 Thebe (t). The word 'Pula' means rain and 'thebe' means shield. The shield appears on the national coat of arms. Bank notes come in denominations of P10, 20, 50 and 100, and coins in denominations of 5t, 10t, 25t, 50t, P1, P2 and P5.

Major credit cards, including Visa, MasterCard, American Express and Diners Club, are accepted widely. Most hotels and lodges accept foreign currency or travellers' cheques.

There are also Exchange bureaus at major border posts. Credit card cash advances are available in major cities through Barclays Bank or Standard Chartered Bank. Cash transfers are easiest through Western Union money transfer. Please note that credit card cash is also available at First National Bank.

Botswana abolished exchange controls in February 1999. Foreign exchange transactions forms must be completed, as the Bank of Botswana requires a record of the amount of currency in circulation.

While cash of any amount is no longer restricted, any person entering or leaving Botswana is required to declare Pula and/or foreign currency bank notes in their possession if the amount is equal to or exceeds an equivalent of P10,000.00 (ten thousand Pula). A family unit must declare any amount carried by each member if the aggregate in the possession of the family is P10,000.00 or more.

Travellers' cheques and any other monetary instruments need not to be declared.

There are 5 commercial banks in the country, with brahcnes in major towns and many main villages: Barclays Bank of Botswana, Standard Chartered Bank, First National Bank, Stanbic Bank Botswana and Bank of Baroda.

Automatic Teller Machines (ATM) are located throughout the country at most shoping malls and major hotels