NBFIRA probes Orange’s N’stakolle loan

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

Editor's Comment
Urgent call: Stop the killing!

The previous week, we had an article about a police officer shooting his wife, and turning the gun on himself, whilst he died, his wife survived and is still in the hospital.Sadly that was not the only article we carried on intimate partner killings. There was the Francistown case, where a young woman allegedly stabbed her ‘former boyfriend’ and many others which were reported throughout the week.As all the reports were coming in, a Botswana...

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