NBFIRA scrambles to regulate 'fast-growing' pawn sector

Friday, May 14, 2021

Cash on wheels: The pawnshop industry is thriving in Botswana FILE PIC

The Non-Bank Financial Regulatory Authority (NBFIRA) is developing regulations to manage the pawn sector, which it says is ‘fast-growing,’ with a loan book of about P15 million for the 15 operators who reported their assets in 2019.

In a recent research report, NBFIRA said the industry’s loan book was believed to be higher, as more data was yet to be collected.

The regulator says the pawnshop business is a major contributor towards the financial inclusion agenda, as loans are granted to borrowers who can pledge collateral in the form of moveable property, in exchange for the loans.

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NBFIRA scrambles to regulate 'fast-growing' pawn sector

The Non-Bank Financial Regulatory Authority (NBFIRA) is developing regulations to manage the pawn sector, which it says is ‘fast-growing,’ with a loan book of about P15 million for the 15 operators who reported their assets in 2019.