This article analyzes the effects of the Orange-Senqu transboundary water governance regime on adaptive capacity by examining the influence of international water management institutions and interstate interactions on treaty flexibility, information management, actor networks, and financial resources. This study provides fresh insights into the dynamic effects of transboundary water governance. This is done by tracing changes in the components of adaptive capacity and the patterns of resource use and allocation over the regime's life and by determining the extent to which observed changes are caused by regime performance or other factors. Drawing on document analysis and in-depth interviews, this article examines the assumption that cooperation between riparian states will enhance the ability of parties to recognize and respond to changing circumstances. It also examines the factors enabling and constraining reflexivity and joint planning in the basin.