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NBFIRA probes Orange’s N’stakolle loan

Friday, November 18, 2022 | 1490 Views |

Launching soon: Orange Botswana is expected to launch its N’stakolle product soon

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is investigating Orange Botswana’s expansion into short-term consumer lending, with a view to ensure that the mobile giant is following the regulations provided.

For weeks, Orange Botswana has been teasing a product known as “N’stakolle” which is apparently being offered to certain customers of Orange Money, the cellphone group’s widely popular mobile money wing.

While Orange is yet to formally launch the service, Orange Money users have reported being offered and taking up N’stakolle loans, which are a form of advance against their balances in the mobile money product.

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NBFIRA probes Orange’s N’stakolle loan

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is investigating Orange Botswana’s expansion into short-term consumer lending, with a view to ensure that the mobile giant is following the regulations provided.

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

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Serowe man 'loses' P1m in trading

Inspect the voters' roll!