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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.

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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.

Gov't moves to close tax gaps

Chief judge promises fairness at tomorrow's Miss Botswana finale

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We respect AFCON final decision – Babitseng

Court blow rocks BPF leadership

BPF moves to rebuild unity-Lucas

‘Reatile, Ookeditse deal was gentleman’s agreement’

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