NBFIRA participates in the Botswana Pension Society Seminar

The Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”) participated in the Botswana Pension Society Seminar at Royal Aria, Gaborone, under the theme “Enhancing Member Engagement and Financial Literacy: The Trustee’s Role.”

The seminar brought together trustees of pension funds to discuss strategies for improving member communication and financial literacy. The guest speaker Mr. Eric Mogotsakgotla from NBFIRA provided guidance on the legal provisions that support effective governance, transparent communication, and the fulfilment of trustee responsibilities.

During the engagement, Mr. Mogotsakgotla emphasized that clear, timely, and understandable communication is the foundation of trust between funds and their members. His key messages included the importance of shared responsibility in driving financial literacy, maintaining fit-for-purpose member communication policies, and ensuring the visibility of complaints and redress mechanisms. “Trustees are encouraged to align training initiatives with real-life member decisions and demonstrate accountability through measurable oversight and follow-up actions”, Mr. Mogotsakgotla said.

As a way forward, trustees committed to strengthening member engagement through clear disclosure, improved access to redress, and enhanced communication practices. NBFIRA attested to continue collaboration with the industry by sharing practical templates and compliance tools, supporting good governance, and ensuring that member-centric outcomes remain at the core of the non-bank financial sector.