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About 33 applications were withdrawn from the licensing process as some considered compliance to licensing requirements to be costly and burdensome.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

Instead, it has sparked a storm of accusations, denials, and unresolved questions about the influence of De Beers on the nation’s politics. Former president Mokgweetsi Masisi’s claims that the diamond giants bankrolled his removal to dodge taxes – and that the new Umbrella for Democratic Change (UDC) government watered down a favourable diamond deal – are explosive matters. But without evidence, they risk becoming a toxic distraction from...

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