NBFIRA at the Botswana Pension Society Conference

The Authority made a presentation at the Pensions Conference on the 29th of February 2016. The theme of the Conference was “Retirement Funds and the Economic Development of Botswana”.

Emphasis was on the central role and importance of retirement funds as a vehicle for mobilizing long term domestic savings which is acknowledged globally.

NBFIRA representative Ms. Ndlovu sighted that Pension funds are a significant sector in partnering with government in infrastructure development. She continued to mention that in light of the growth of this industry, the Government of Botswana recognized the need for a more robust supervisory and regulatory reform policy framework for not only retirement funds, but the entirety of the non – bank financial services sector. “The Authority would also wish to urge service providers to handle member funds entrusted to them with the expected level of skill, prudence, due care, and integrity” said Ms. Bontle Ndlovu.

She further highlighted that the regulatory authority encourages consultation, and taking into consideration views of the industry for shaping the regulatory framework for the betterment of the industry, and being mindful of consumers.