Microlenders Grapple With Surge in Loan Scams

Tuesday, September 16, 2025 | 290 Views |

RED FLAGS: NBFIRA is noting rising cases of fraud in the microlending sector PIC MORERI SEJAKGOMO

Local micro-lenders are facing a rising tide of loan fraud, with financial regulator, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), noting surging cases involving false identity loan applications that are hitting the country’s growing micro-lending market.

The fraudsters according to NBIFRA are taking advantage of fast-tracked loan approvals and weak verification systems.

NBFIRA’s Anti-Money Laundering Unit representative, Leonard Moeng, said the industry was under serious pressure as fraudsters exploit gaps in compliance.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

ECONOMY

Spring Highlight Dialogue salutes women leadership

Calistus Kolantsho | 3 h ago

BNSC report stirs up a hornet's nest

Calistus Kolantsho,Mqondisi Dube | 3 h ago

BNSC report stirs up a hornet's nest

Calistus Kolantsho,Mqondisi Dube | 3 h ago

Selefu

joey kambai | 7 h ago

Wilderness celebrates Botswana’s brave tourism decisions

correspondent | 19 Jun 2026

Smart subsidies and uncomfortable questions

Lewanika Timothy | 19 Jun 2026

Play fair- Defence tells State as Moagi trial stalls

Larona Makhaiza | 1d ago

Takatokwane police probe 'injury-related death' months after attack

Pini Bothoko | 1d ago

Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

The Monitor Editor | 23 June 2026

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Microlenders Grapple With Surge in Loan Scams

Local micro-lenders are facing a rising tide of loan fraud, with financial regulator, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), noting surging cases involving false identity loan applications that are hitting the country’s growing micro-lending market.

Explore

More

Spring Highlight Dialogue salutes women leadership

BNSC report stirs up a hornet's nest

BNSC report stirs up a hornet's nest

Selefu

Wilderness celebrates Botswana’s brave tourism decisions

Smart subsidies and uncomfortable questions

Play fair- Defence tells State as Moagi trial stalls

Takatokwane police probe 'injury-related death' months after attack

Get back what was stolen, and lock the door