SPEDU chief encourages financial prudence

Speaking during the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) open day held here last Friday, Kedisitse said many Batswana have lost millions of Pula after investing in unlicenced financial institutions.  He pointed out that it’s usually pensioners’ who fall victim to these fraudulent schemes, adding that it’s difficult to assist them because the financial institutions are untraceable since most of them don’t have offices in Botswana. 

“I urge you to always confirm the licencing status of any financial institution with NBFIRA, before conducting business with such entities,” he said. Kedisitse further said Selebi-Phikwe would undoubtedly grow as more businesses are setting up as a result of SPEDU and BCL economic strategies, which will increase the probability of non-banking financial institutions mushrooming in the mining town.