Botswana - Renewal of Banking Business License

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Procedure

Apply In-Person
A Banking Business Licence issued by the Bank of Botswana which is the Central Bank of Botswana, shall be renewable from year to year on payment of the annual prescribed fee. Bank of Botswana Office Location & Contact Details

Step 1

1. The first thing is to submit an application form for renewal of commercial bank obtainable at any of the central bank offices and should be addressed to the baking supervisor of Central Bank of Botswana supported with evidence of tax payment and a copy of the Audited Accounts of the previous year before the expiration date of the Banking Business license.
   

Step 2

1. The second stage is to attach the following documents to the application form.
2. Records of the previous year’s proper keeping of registers and book of accounts.
3. Copy of the expired permit.
4. Copy of current tax clearance (original for sighting).
5. A satisfactory level of operation in terms of Turnover and net-worth as may be prescribed by the Central Bank of Botswana.
6. A copy of the expiring Commercial banking Business License.
7. Any other document may be determined by the Central Bank of Botswana.
   

Step 3

1. The third stage is to submit the application form together with the required documentation as listed under the “Required Documents” section of this page.
2. If there is any request for additional information for purposes of processing the application the Bank will put it in Writing.
3. And where it is satisfied that all the necessary requirements have been met, issue a letter of intent to the applicant advising the applicant to.
4. Pay the annual prescribed Renewal license fee to the Central Bank of Botswana by bankers’ cheque.
   

Step 4

1. Upon fulfillment of the above requirements or otherwise, the Central Bank shall automatically renew the banking license, or inform the applicant in writing that the renewal application has been declined and advise the unsuccessful applicant that an appeal to the Central Bank for review of the decision to decline may be lodged within 30 days from the date thereof.
   

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Required Documents

• Provide the name and full address, including telephone and email address of the commercial Bank.
• A minimum paid-up share capital of not less than one thousand currency points.
• A certificate of incorporation
• The applicant's memorandum and articles of association
• Individual references relating to the fit and proper status of each of the applicant's shareholders and directors
• The names and curriculum vitae of all the applicant's shareholders and management team.
• Particulars of the applicant's bankers.
• A certified copy of the resolution of the board for renewal of commercial bank authorizing the submission of the application for renewal.
• A bank statement for the period of previous business on the submission of the renewal application
• Work permits for all non-Botswana directors and employees of the applicant
• Business and financial plans for the proposed business.
• Any other information or documentation that the Central Bank of Botswana may request the applicant to provide.
  

Office Locations & Contacts

Bank of Botswana (Central Bank of Botswana)
Gaborone Headquarters17938, Khama Crescent,
Gaborone, Botswana
Private Bag 154,
Gaborone, Botswana(+267) 360 6000 

Francistown Branch
9597, Thapama Circle, Francistown, Botswana
Private Bag F212, Francistown, Botswana
(+267) 241 0450, 240 0400
Bank of Botswana Office Location & Contact Details
Bank of Botswana Website
Opening hours: 7:30 to 12:45, and 13:45 to 16:30, Monday to Friday, except public holidays.

Eligibility

All Commercial Banks that are registered by the Bank of Botswana (Central Bank of Botswana) and hold a valid registration certificate are eligible to apply.

Fees

Please consult with the Bank of Botswana.

Validity

Banking licenses are issued for an indefinite period unless suspended, cancelled, or revoked by the Authority; however, the license is subjected to an annual fee.

Documents to Use

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Sample Documents

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Processing Time

The time frame for processing the application is within thirty (30) working days.

Related Videos

Videos explaining the procedure or to fill the applications.
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Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• The Central Bank has broad powers in the affairs of banks. It can suspend or remove a CEO, director or other senior executives,
• No person shall carry out a Commercial banking business unless he/she is in possession of a Banking business License.
• A person who fails to contravenes or fails to comply with renewal guidelines shall lead to withdrawal of the License.
• The management, directors, and owners must be persons of good repute and integrity with the necessary qualifications and competence required to renew a Commercial bank License.
• If owned by another bank, be registered as a wholly-owned subsidiary of that bank.
• Should have a fixed and identifiable place of business that is accessible to the public and suitable in all respects for the business of a Commercial Banks.
  

Required Information

• Full Name of Applicant
• Address of Applicant
• Location of Commercial bank
• previous Commercial bank License Number
• A tax clearance certificate.
• Evidence of provisional tax payment
• Full names, addresses, and designations of the employees of the bank.
• Proof of legal identification. The applicant national driver's license or an international passport is the best for this.
• Proper bookkeeping register
• Proof of legal address. House rent receipts, and utility bills stating your house address are acceptable.
• Previous business Turn over and net-worth of the Business.
• Bank statement. Not all Authorities require this except for further verification purposes or alternatives.
• Regulatory return from the Supervisor department from the Central Bank of Botswana.
• Utility Bill Receipt. Some Authorities require this to further verify your legal identity and proof of social responsibility.

Need for the Document

• No person or business shall transact banking business in Botswana without a valid license issued by the Central Bank of Botswana.
• A holder of a Banking Business License shall have the License in their physical possession or at the worksite when exercising the privileges of the license.
  

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Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

Bank of Botswana

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