Botswana has eight functional commercial banks. These are BancABC, Bank Gaborone, Bank of Baroda, Barclays Bank, Capital Bank, First National Bank, Stanbic Bank and Standard Chartered Bank.
General Information Required by all Banks
All banks require the following information in addition to completed application forms. Application forms must be counter signed by the Company Secretary.
- Company forms: certificate of incorporation; allotment of shares; registered office; list of directors and memorandum and articles of association for companies registered before July 2007.
- Certified copies of identity documents for directors; Omang (citizens), and passports, work and residence permits (non-citizens).
- Certified copies of share certificates.
- A resolution, bearing the company's stamp, stating signing arrangements and signed by all directors and the Company Secretary.
- Utility bill to verify the physical address, or a letter from the Company Secretary confirming the location of a registered office.
Additional Requirements by Particular Banks
Some banks have additional requirements as follows:
- First National Bank
- Latest financial statements/cash flow projection for the next 12 months.
- Minimum deposit of P1,000.00.
- Copies of latest audited financial accounts, business plans, or relevant brochures and company literature.
- Bank statements for the last 3 months if the company holds an account with another bank.
- Blank letterhead with physical address.
- Sources of funds: financial statements for existing companies, or bank statements for the last 6 months and cash flow projections; Expected turnover from business activities on company letterhead, for start-up companies.
Regulated Credit and Financial Institutions Account
If the applicant is a regulated credit and financial institution, the following documents are required:
- Banking licence.
- Banker’s association details.
- Identification and address documents.
- Appointment of bankers/mandate.