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Key highlights of Botswana Budget 2026/27 The Botswana Budget 2026/27 delivers a clear message: fiscal discipline, bold reforms, and future‑focused action. Your budget. Your insight. Your future. We’ve unpacked the key highlights so you stay informed, empowered, and future‑ready.

Grant Thornton’s publication “Navigating the Changes to IFRS 2026” provides a comprehensive and practical overview of all IFRS Accounting Standard changes issued between 1 January 2025 and 31 December 2025. It outlines new standards, amendments to existing IFRS requirements, interpretations, and effective dates relevant to 2025–2026 year‑ends. The guide includes commercial impact assessments, early‑adoption considerations, and disclosure requirements under IAS 8, making it a valuable resource for financial statement preparers, auditors, and accounting professionals.

ISSB amendments to IFRS S2 introduce targeted reliefs to greenhouse gas emissions disclosures, including Scope 3 financed emissions, jurisdictional measurement requirements, and industry classification flexibility, effective from 1 January 2027.

Botswana has expanded its VAT regime through the 2025 Amendment Act, now taxing remote services such as digital content, cloud services, and inbound tourism products. The Act also mandates electronic fiscal devices for VAT-registered businesses and introduces compliance requirements for non-resident suppliers and electronic marketplaces. Businesses must prepare for reverse charge obligations, registration thresholds, and fiscal invoicing to ensure compliance.

IFRS Example Consolidated Financial Statements 2025 Comprehensive guide illustrating IFRS-compliant consolidated financial statements for Illustrative Corporation Group as of 31 Dec 2025. Covers profit or loss, OCI, financial position, equity changes, cash flows, and detailed notes on accounting policies, climate-related disclosures, economic uncertainty, segment reporting, revenue recognition, financial instruments, and risk management. Includes updates on new standards (IFRS 18, IFRS 19), sustainability reporting, impairment testing, acquisitions/disposals, and liquidity monitoring. Designed to support consistent internal and external reporting with emphasis on materiality, transparency, and entity-specific application.

Through this report, Grant Thornton presents details and trends of the local M&A activity based on deals announced and published by the Competition and Consumer Authority (CCA) between 2021 and first half of 2025 (H1) (“period under review”). In the case of cross-border deals, the CCA only reports in-bound transactions, i.e. a transaction in which a foreign company merges with or acquires a Botswana company.

Finance transformation refers to the tactical initiatives that help inform the finance function by assessing and improving its strategy, vision, people, processes and systems to better align with the organisation’s overall strategy.

Corporate forensics serves as a strategic connector, linking ethical leadership, internal oversight, and operational processes. Its value is not limited to early detection and prevention of fraud before reputational and / or financial damage occurs. It enhances legal and regulatory compliance (e.g. anti-money laundering, anti-bribery, sanctions), demonstrates commitment to ethical conduct and transparency, strengthens internal controls through forensic audit techniques and preserves digital evidence for litigation and regulatory action.

s sustainability reporting becomes a global imperative, the introduction of the International Financial Reporting Standards (IFRS) S1 and S2 marks a significant step toward standardised, transparent, and investor-relevant disclosures. IFRS S1 and S2 are built on frameworks such as Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB), aiming to provide a universal baseline for sustainability reporting.

The International Accounting Standards Board (IASB) has issued a revised ‘Practice Statement 1 Management Commentary’ (the Practice Statement). The objective of the revision is to provide a global benchmark for the preparation of management commentary accompanying financial statements including sustainability-related financial disclosures. The Practice Statement achieves this by adopting an objectives-based framework, focusing on what investors need to enable them to assess an entity’s ability to create value and generate cash flows over time. The Practice Statement is non-mandatory but designed to be used alongside IFRS Accounting Standards and IFRS Sustainability Disclosure Standards.

The preparation of financial statements in accordance with International Financial Reporting Standards (‘IFRS’) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (‘IASB’) with the potential to significantly impact the presentation of a complete set of financial statements and 2024 is no different.

IFRS for SMEs - IASB issues a major update in a third edition of this Accounting Standard

As organisations approach the end of their strategy period or decide to review their existing strategy, it is time to reflect on the journey - evaluating the successes, the challenges, and the lasting impact. While some goals may have been achieved, others might have remained out of reach.

Identify and resolve tax risks before they escalate into costly and time-consuming investigations, penalties and reputational damage.

This publication is designed to give preparers and reviewers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting Standards.

A recent Grant Thornton report on Women in Business 2025 reveals that without immediate action, gender balance in senior management roles within mid-market companies may not be reached until 2051. Currently, women hold only 34% of senior leadership positions worldwide, reflecting a marginal increase of just 0.5% from 2024. In Africa, the proportion of women in senior roles declined significantly, dropping from 41.3% in 2024 to 36.6%. 2025 marks the lowest women in leadership representation over the past 5 years (2020: 38.1%), signaling a worrying trend. However, South Africa emerged as a rare exception, recording a 5.2% increase, from 42% in 2024 to 47.2% in 2025, emerging as the top-ranking country globally that is closest to achieving gender parity in leadership positions. Women representation in leadership positions in other African countries such as Nigeria, Kenya, Egypt and Morocco ranged from 30-38% in 2025, with women least represented in c-suite positions in Technology and Sustainability at 10%, and most represented in c-suite positions in Human Resources at 48%. At the current pace, achieving gender parity in leadership globally is still decades away. This shows the need for urgent action to close the gap and address gender inequality in leadership, both globally and across Africa. “Gender parity is not a privilege but a necessity for progress. I’m pleased to see that over the years, Grant Thornton has remained committed to creating opportunities for women in business, not just in words, but through action. From supporting women-led businesses to ensuring diverse representation in leadership, the firm has taken deliberate steps to build a more inclusive environment.” said Dr. Sheela Raja Ram, one of Grant Thornton’s founding members, who now serves as Vice Chancellor of Botho University. “As business leaders in Botswana, looking ahead we must remain committed to removing barriers and creating a future where women can succeed in every sector. Education is a powerful tool for change and I’m quite proud of the role that educational institutions such as Botho University are playing in setting the tone by providing education that builds strong employability skills. By ensuring equal opportunities for female students and helping women build meaningful careers, we have the power to strengthen economies, communities, and future generations.” Mid-market businesses, which account for 90% of global companies and provide two-thirds of jobs worldwide, are pivotal in advancing gender equality. According to research from the International Monetary Fund, closing the gender gap in developing markets could boost GDP by 23%. Globally, women remain underrepresented in leadership across key industries. The highest representation is in Travel, Tourism, and Leisure at 43.2%, while the lowest is in Industrial Products at 28.7%. Bridging this gap is not only a matter of equity but also a critical driver of economic growth and business development. Grant Thornton Botswana Managing Partner, Kalyanaraman Vijay, said “Gender parity is not just an opportunity for women, but rather, a leadership opportunity. When we ensure equal prospects for women in businesses and leadership, we strengthen economies and build strong societies. As leaders, it is our responsibility to create workplaces where talent, not gender, determines success. The decline in women's leadership representation across Africa is a challenge that businesses cannot ignore. Companies must take three bold steps recommended by Grant Thornton in our Women in Business report. A balanced leadership team strengthens decision-making and drives economic success.” To accelerate gender equality in leadership, Grant Thornton recommends three (3) key steps: - Set clear targets for female representation in leadership. Currently, 63.9% of businesses across the globe, do not have targets for increasing female representation in senior roles. Without clear goals, businesses risk stagnation. Setting and tracking progress on gender balance is essential. -Support women throughout their careers. Companies must implement policies focused on mentorship, networking, and career development. Data shows that firms with networking targets (61.1%) and mentorship programs (50.7%) have made notable progress in gender diversity. -Ensure Diversity across supply chains. Over 77.6% of mid-market businesses have been asked by investors or partners to demonstrate their commitment to gender diversity. Companies that responded saw significant improvement, with 56.3% increasing women’s representation in leadership within a year. Despite understanding that gender diversity is a fuel for potential growth, many businesses often lack a clear purpose behind their gender equality strategies. This is not only to the detriment of mid-market firms. If firms pass upon the growth opportunities offered by better balanced teams, this will have repercussions on economies across the world. They must act now. However, this year’s research does give reason for optimism and there is a great deal to learn.