�NBFIRA�s incapacity threatens industry� :: Mmegi Online

The Ministry of Finance and Development Planning has been urged to boost the capacity of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) in order to safeguard the P56 billion managed by companies under its regulation.

Contributing on the Ministry of Finance 2014/15 Committee of Supply presentation in parliament on Wednesday, Member of Parliament for Tati West, Charles Tibone said NBFIRA lacks capacity and should be supported to ensure that the assets of companies they are regulating are not hijacked by outside entities.

Tibone said assets under NBFIRA management at P56 billion represent half of the Gross Domestic Product (GDP), and it will be catastrophic for the country if they were to be hijacked. “NBFIRA should be supported to ensure that companies assets are managed in the interests of Batswana,” he stated.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.