Regulatory Alerts2025-12-15
Financial Resources Requirements Rules for Asset Managers
The Non-Bank Financial Institutions Regulatory Authority of Botswana mandates licensed Asset Managers to maintain minimum financial resources, specifically net assets of at least P600,000 or liquid assets covering three months of expenditure. The rules require comprehensive insurance coverage, including professional indemnity and fidelity insurance placed with local insurers, alongside strict capital management plans and immediate breach notifications. Asset Managers must ensure board oversight of capital adequacy and risk exposure, with NBFIRA empowered to verify compliance through external audits and enforce sanctions for non-compliance.
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