Botswana Households Showed Resilience Amid Financial Pressure-TransUnion

• 71% of Botswana consumers expected their income to increase in the next 12 months
• 96% said access to credit and lending products is important for achieving their goals
• Reported digital fraud attempts declined, but the proportion of consumers who said they became fraud victims increased

Botswana consumers are demonstrating resilience as households navigate rising financial pressures and increasing demands on their disposable income. While many consumers are adjusting spending habits, seeking additional sources of income and taking a more cautious approach to borrowing, they remain optimistic about their long-term financial prospects.

These are among the findings of TransUnion’s Q3 2026 Consumer Pulse Survey¹, which found that while financial pressures have increased over the past year, consumers continued to adapt and remain focused on achieving their long-term financial goals.

Despite increased financial pressure, more than seven in ten consumers (71%) remained optimistic that their household income would increase during the next 12 months. This optimism reflects consumers’ determination to improve their financial circumstances while actively adapting to current economic conditions.

Households Prioritise Essential Spending as Financial Pressures Increase

The study found consumers were experiencing a more challenging income environment than a year prior. The proportion of respondents who reported their household income declined during the previous three months increased from 30% in 2025 to 39% in 2026, while the proportion reporting income growth decreased from 33% to 26%.

At the same time, the percentage of consumers expecting difficulty paying at least one current bill or loan increased from 34% in 2025 to 39% in 2026.

Among those anticipating difficulty meeting financial obligations, the top ways they said they’d pay their current bills and loans were:

• Making partial payments (43%)
• Taking on temporary or gig work to supplement their income (38%)
• Using savings or borrowing from friends or family (both 26%)

Consumers were also becoming increasingly selective about non-essential expenses. Nearly three-quarters (73%) reported cutting back on discretionary spending like dining out, travel and entertainment in the past three months, up 19 percentage points compared to the same quarter in 2025. The proportion of consumers who said they reduced digital services like wireless phones, cable TV or Internet increased from 30% to 39%, while those cancelling subscriptions or memberships rose seven percentage points YoY to 40%.

“What stands out in this quarter’s findings is the determination of Botswana’s consumers to remain financially resilient,” said Kabelo Ramaselwana, CEO of TransUnion Botswana. “Households are making deliberate decisions about spending, looking for opportunities to supplement their income and focusing on maintaining financial stability despite current challenges.”

Access to Credit Remains Relevant, Although Consumers’ Plans Were More Selective

Access to credit continues to play an important role in helping consumers achieve their financial goals. Nearly all respondents (96%) said access to credit and lending products is important to achieve their financial goals, unchanged from 2025. However, confidence in credit accessibility has weakened. The proportion of consumers who believe they have sufficient access to credit and lending products declined from 41% to 36%, while those who said they didn’t have sufficient access increased from 37% to 45%.

Reflecting a more cautious mindset, intentions to apply for new credit or refinance existing credit fell 15 percentage points from the same quarter in 2025 to 25% in 2026. Among respondents who said they plan to apply for new or refinance existing credit, those who said they’ll apply for a new personal loan declined 16 percentage points YoY to 27%, while those planning to apply for a mortgage or home loan fell six percentage points from 30% to 24%.

“The findings suggested that consumers have adopted a more deliberate approach to borrowing,” said Ramaselwana. “While the importance of credit remains high, affordability considerations and confidence in access to credit are increasingly influencing how and when consumers choose to take on new debt.”

More Fraud Victims Despite Fewer Reported Scam Attempts

While fewer consumers reported being targeted by digital fraud compared with last year, fraud remains a significant concern. The proportion of consumers who reported being targeted by email, online, phone call or text message fraud declined seven percentage points YoY to 68% in 2026. However, the proportion reporting they had become victims of digital fraud increased from 6% to 8%.

Among consumers who reported being targeted:

• Phishing attempts increased from 38% to 47%
• Vishing (voice-phishing) attempts increased from 39% to 46%.

The findings suggest that fraudsters continue to evolve their tactics across both online and voice channels, including mobile messaging, phone calls and impersonation scams designed to obtain personal and financial information.

Encouragingly, consumers were becoming more proactive in protecting themselves after saying they were notified in the last three months that they were victimised in a data breach. Changing passwords remained the most common response among data breach victims, with 57% doing so, while checking the account for unauthorised activity was the strategy of 52% of consumers – both responses broadly the same as last year. Notably, the proportion of consumers checking their credit reports for signs of fraudulent activity increased significantly from 14% to 23%.

“Botswana’s consumers are navigating the current economic environment with resilience and adaptability,” said Ramaselwana. “While households continue to face economic pressures, many are taking proactive steps to manage their finances, strengthen their credit positions and protect themselves against fraud. Consumers who remain informed about their financial health and make thoughtful decisions about credit and spending will be best positioned to benefit from future opportunities as the economy evolves.”