Microlenders Grapple With Surge in Loan Scams

Tuesday, September 16, 2025 | 300 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

Selefu

joey kambai | 20 m ago

Gobotswang: BCP’s primary parliamentary engine

Ryder Gabathuse | 1 h ago

Premier League Matchday 2: Champions face early tests

correspondent | 1d ago

BBNaija S11; Biggie switches up nominations for week 5, Chimsom Chuka takes HoH title again

correspondent | 1d ago

AG consents to judgment over defamatory allegations against Khama

Larona Makhaiza | 1d ago

Girl, 14, raped on way to school

Pini Bothoko | 1d ago

Teen arrested after allegedly threatening mother

Pini Bothoko | 1d ago

Radisele Bishop found dead in apparent suicide

Pini Bothoko | 1d ago

Gov’t needs to give health care urgency it requires

The Member of Parliament is warning that patients suffering from chronic conditions continue to face potentially life-threatening interruptions to their treatment because of unreliable access to medicines.Amid the shortages, many Batswana have been left with no choice but to look for other treatment alternatives such as herbs, with many not having had been scientifically tested for effectiveness.Medications for hypertension, diabetes, heart...

The Monitor Editor | 25 August 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

Selefu

Gobotswang: BCP’s primary parliamentary engine

Premier League Matchday 2: Champions face early tests

BBNaija S11; Biggie switches up nominations for week 5, Chimsom Chuka takes HoH title again

AG consents to judgment over defamatory allegations against Khama

Girl, 14, raped on way to school

Teen arrested after allegedly threatening mother

Radisele Bishop found dead in apparent suicide

Gov’t needs to give health care urgency it requires