Botswana cancels cheques
Banks will cease processing cheques from 2024
Botswana’s central bank and commercial banks announced on February 21 that they would end cheque processing from January 1, 2024.
In its press release, the Bank of Botswana cited security and efficiency concerns. It noted that cheques take two to four days to clear and can be forged. They can also fail to process for lack of funds.
The central bank noted that the Covid-19 pandemic had discouraged use of paper-based payments systems.
Local banks will undertake a publicity campaign to advertise
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