Licensing of micro-lenders doubles

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has managed to eradicate backlog in micro-lending applications with the number of licences issued doubling in the year to March 2015.

According to the regulatory authority’s 2015 annual report, the number of licensed micro-lenders increased to 166 in the review period from 73 registered in the prior year representing a 127 percent increase.

About 33 applications were withdrawn from the licensing process as some considered compliance to licensing requirements to be costly and burdensome.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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