This study examines the knowledge of HIV/AIDS, attitudes towards risky sexual behaviour and perceived behavioural control among students in Botswana. Data were collected from 445 students randomly selected from the University of Botswana and Boitekanelo College. Hundred and seventy three males and 272 females participated in the study. The study established that although more than 90% of students correctly identified routes of HIV transmission, misconceptions regarding HIV/AIDS still exist. This includes the belief that people can be infected with HIV because of witchcraft and that only people who have sex with gay or homosexual partners can be infected with HIV. Majority of students were aware of various sexual risks. However, the percentage of students who indicated that “it is difficult to ask my partner to use a condom” was still relatively high (13.5%) based on the assumption that students are supposed to know the consequences of sexual risky behaviour. It was also found that male students were 3.48 times more likely to negotiate sex than their female counterparts (OR = 3.48, 95% CI: 1.09 − 11.13) and students who were 18 years and below were more likely to negotiate sex than students above 18 years of age (OR = 2.78, 95% CI: 1.42 − 18.32). Christians are four times less likely to negotiate sex compared to non-Christians (OR = 0.219, 95% CI: 0.095 − 0.506). More than 80% of students were comfortable discussing HIV or sex and sexuality with their friends, boyfriends/girlfriends or partners but uncomfortable discussing the same issues with their parents.