The Botswana Non-Bank Financial Institutions Regulatory Authority issued a public notice announcing the temporary closure of Fima Enterprises (Pty) Ltd and the freezing of its bank accounts until it complies with financial services laws. The action, taken under Section 94(1) of the Non-Bank Financial Institutions Regulatory Authority Act, requires Inkunzi to cease immediately taking new clients, issuing loans or financing to existing and new clients, and advertising its products. The notice states that Fima will continue servicing existing clients, and that the closure and account freeze do not affect clients’ obligations to continue servicing their existing loans under their agreements.
Botswana Non-Bank Financial Institutions Regulatory Authority 2025-04-29
Botswana Non-Bank Financial Institutions Regulatory Authority temporarily closes Fima Enterprises and freezes its bank accounts pending compliance
The Botswana Non-Bank Financial Institutions Regulatory Authority has temporarily closed Fima Enterprises (Pty) Ltd and frozen its bank accounts for non-compliance with financial services laws. Under Section 94(1) of the Non-Bank Financial Institutions Regulatory Authority Act, Fima must stop taking new clients and issuing loans but will continue servicing existing clients. Clients must still fulfill their obligations under existing loan agreements.