The Ministry of Finance was established in 1970 as Ministry of Finance and Development Planning and was later renamed the Ministry of Finance and Economic Development in 2016. The Ministry has since been rationalised in 1983,1996, 2005 and 2022 to aligned with the government’s changes in economic and financial policies.
The Ministry is a custodian of the national economy hence mandated with mobilising and prudent management of available financial and economic resources. It is also responsible for developing financial and economic policies for long-term economic growth.
Vision
The Ministry of Finance will be a leader and model of excellence in financial and economic management for the prosperity of Botswana.
Mission
To provide leadership on sustainable economic development and prudent financial management.
Values
Accountability
Excellence
Timeliness
Integrity
Caring
- Treasury and budget administration.
- Economic management and national development planning coordination.
- Financial administration and management.
- Mobilization of resources for economic development.
- Improving accountability for the use of resources.
- Facilitating improvements in proper implementation and monitoring processes.
- Ensuring strict adherence to budgetary processes.
- Facilitating the contributing role of the private sector and Non-Governmental Organizations (NGOs) to the strategy of creating greater prosperity and embracing this in the development process.
- Facilitating and supporting citizen economic empowerment schemes and initiatives.
- Facilitating involvement of Botswana in regional and global economic issues.
- Development and Budget (DBD)
- Corporate Services (CSD)
- Macroeconomic and Financial Policy
- Office of the Accountant General (OAG)
- Internal Audit (IA)
- Research
- Financial Intelligence Agency (FIA)
List of Parastatals
- Bank of Botswana
- Botswana Savings Bank
- National Development Bank
- Non-Bank Financial Institutions Regulatory Authority
- Botswana Stock Exchange
- Botswana Unified Revenue Service
- Motor Vehicle Accident Fund
- Public Procurement Regulatory Authority
- Botswana Institute of Chartered Accountants
- Botswana Accountancy Oversight Authority
Economic and Financial Policy (EFP)
The Division's mandate is to formulate and coordinate national economic and financial policies, and it is divided into two sub-divisions: Macroeconomic Policy and Financial Policy.
Macroeconomic Policy sub-division consists of one Section with three units;
- Macroeconomic Policy Section
- Budget Speech Preparation Unit
- Enterprise Development Policy Coordination
- Multi-lateral Cooperation
The Financial Policy sub-division consists of three Sections;
- Finance and Banking
- Insurance and Pensions
- Tax Policy
Development and Budget (DB)
The Division is responsible for ensuring effective coordination of budgetary processes. The Recurrent Budget Section has seconded over 90 percent of staff to the respective line ministries in order to provide advisory role to the rest of government on the overall public finance management matters. The overall objective is to ensure visibility and presence of the Ministry of Finance across the line Ministries to facilitate effective coordination of the budget, monitoring of the budget execution as well as to ensure technical support to the Ministries.
It is mandated to;
- Coordinate the formulation of the Government recurrent and development budgets.
- Control of the use of budgetary resources
- Public debt management.
- Cash Flow analysis and reporting.
- Financial administration of loss of cash and stores.
- Government motor vehicle accident and other surcharges.
- Assisting Ministries to identify cost recovery areas.
- Coordination of Botswana’s Public Finance Management (PFM) Reform Programme
Office of the Accountant General (OAG)
The OAG is responsible for ensuring that adequate accounting and financial systems, procurement and distribution of goods to Ministries are carried out accordingly. It is made up of two units, the Accounts and General Ledger unit and the Compliance and Procurement unit, which carry out their duties in line with the following Acts and Regulations;
- Finance and Audit Act (under review) subsidiary legislation
- Financial Instructions and Procedures (under review)
- Supplies Regulations and Procedures
- PPRA Regulations
- Procurement Manual
Internal Audit (IA)
The Internal Audit department aims to be a world class internal audit service provider for the government of Botswana. The division is mandated with delivering high quality professional internal auditing services that add value to Ministries.
Financial Intelligence Agency (FIA)
- Financial Intelligence Agency (FIA) is mandated with requesting, receiving, analysing and disseminating information to law enforcement agencies, supervisory authorities and comparable bodies on financial disclosures on suspicious transactions.
- As the secretariat of the National Coordinating Committee on Financial Intelligence (NCCFI), it helps to make national policies which combat national crimes and preserves the integrity and stability of the financial system at national level.
Corporate Services (CS)
The Corporate Services Department (CSD) exists to enhance Ministry of Finance capacity to deliver its Mission by providing coordinated;
- Human Resources Development, Administrative support services and advise in the areas of administration, Health and Safety, IT support, Finance and Resources Management (Financial, Human and Material).
- Implementation of Cross-Sectoral government initiatives.
- Timely preparation of progress reports in line with the requirements of its mandate as outlined in the Ministry’s strategic plan.
