Botswana’s latest National Risk Assessment (NRA) has reframed wildlife crime as far more than a conservation crisis but has evolved into a multibillion-pula laundering pipeline, placing the safeguarding of natural heritage firmly at the centre of national economic security.
Authorities now describe it as the country’s most significant money-laundering threat, powered by a sophisticated financial pipeline that generated an estimated P12.47 billion in illicit value between 2020 and 2024.
The report presents a stark picture of a criminal economy built on the poaching of elephants and rhinos, whose ivory and horns have become high-value commodities in international black markets. Classified as High Risk, the proceeds from these crimes must be layered and integrated into the legitimate economy before syndicates can use them, transforming poaching into a fully-fledged financial enterprise.
Wildlife crime in Botswana follows a structured three-stage laundering model that mirrors global financial crime patterns. The first phase begins in remote wildlife areas where poaching occurs and low-level poachers are typically paid in cash, injecting illicit funds into local economies. Syndicates then exploit porous borders to move animal products into neighbouring countries, beginning the process of disguising the origins of the money.
The second phase involves transporting wildlife products to international markets—primarily in Asia using fraudulent documentation. At this stage, shell companies and seemingly legitimate export businesses are used to conceal the origin of funds. Investigators note that front companies posing as timber or agricultural exporters may justify large overseas wire transfers that actually originate from wildlife trafficking.
The final phase sees the “cleaned” money re-enter Botswana’s economy through asset purchases. Real estate and luxury vehicles have emerged as preferred targets, with illicit proceeds often channelled into high-value residential properties. Because the property sector carries a medium-high vulnerability rating, criminals are able to hide beneficial ownership and quietly park millions of pula in prime developments.
Botswana’s geography plays a significant role in enabling this trade. Extensive and difficult-to-monitor borders are exploited by organised syndicates, while poaching is concentrated in northern wildlife corridors where animal parts are smuggled into neighbouring territories.
Once profits are laundered, urban centres such as Gaborone become the focal point for integration, particularly through property purchases and other high-value assets. Established transit routes used for other crimes, including marijuana trafficking from Eswatini, further illustrate the interconnected nature of cross-border illicit trade.
Although wildlife crime dominates in value, the NRA provides a broader snapshot of Botswana’s illicit economy between 2020 and 2024. Wildlife crime accounts for P12.47 billion in estimated lifetime illicit value, while obtaining by false pretence saw nearly 10,000 investigated cases worth P289 million. Tax crimes were identified as the highest domestic financial crime risk, corruption linked to procurement projects was rated medium risk, and drug trafficking—marked by rising marijuana seizures and methcathinone incidents—was also rated medium risk. Terrorist financing was classified as medium-low risk, with zero recorded terrorist attacks during the review period.
Despite maintaining “adequate” controls, banks remain the most frequently used channel for laundering criminal proceeds due to the sheer volume of wire transfers associated with approximately P3.97 billion in domestic illicit funds.
The investigation also exposes systemic challenges slowing enforcement efforts. Law enforcement agencies face a shortage of forensic accounting expertise, making it difficult to trace financial trails once ivory or rhino horn leaves the country. The use of fraudulent or unverified Omang identity cards complicates the identification of beneficiaries, while delays in intelligence sharing and lengthy extradition processes give transnational syndicates a persistent head start.
The message emerging from the National Risk Assessment is clear that Botswana’s fight against poaching is now inseparable from the protection of its financial system.
