Circular – Credit Information Act

CIRCULAR

TO:                  Non-Bank Lenders (Micro Lenders, Pawnshops, Finance and Leasing Companies)

FROM:           Non-Bank Financial Institutions Regulatory Authority (NBFIRA) 

DATE:             June 5, 2025

SUBJECT:      CREDIT INFORMATION ACT, 2021

1. The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) informs the non-bank lenders of the commencement of the Credit Information Act, 2021 (“the Act”), that is governing the regulation of the credit reporting system and the licensing and supervision of credit bureaus.
2. The Act was introduced to oversee the licensing and supervision of creditbureaus, and ensure responsible handling of consumer credit information. It establishes guidelines for data collection, processing, and sharing, helping financial institutions assess risk and affordability when granting credit.
3. In terms of the Act, a data provider means a person who submits customer information to a credit bureau and includes a non-bank financial institution regulated under the Non-Bank Financial Institutions Regulatory Authority Act.  Section 31 (1) of the Act stipulates that a data provider shall provide consumer information to a credit bureau in such a form as may be prescribed.
4. Therefore, non-bank lenders are legally required to submit credit data to a licensed credit bureau. Confirmation of a credit bureau’s licensing status may be obtained from the Bank of Botswana, which is the licensing authority.
5. Accordingly, the non-bank lenders are directed to adhere to the Credit Information Act, 2021 and remain well-informed about other relevant Financial Services Laws.

Oduetse A. Motshidisi
CHIEF EXECUTIVE OFFICER