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2025-09-11

Supervisory Instrument No. 111 of 2025 – NBFIRA Supervisory Levies

The Botswana Minister of Finance, acting on the Non-Bank Financial Institutions Regulatory Authority’s recommendation, has enacted regulations establishing mandatory supervisory levies for licensed non-bank financial institutions. These levies are calculated based on fixed annual fees or percentage-based assessments of assets, insurance revenue, and loan books, payable in two equal instalments by 30 April and 31 October each financial year. The regulations further mandate interest on unpaid levies at the prevailing prime rate, impose penalty levies for misstatements causing under-collection, and formally revoke the previous 2023 supervisory levy regulations.

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Supplement C — Botswana Government Gazette dated 29th August, 2025 C.1143

Statutory Instrument No. 111 of 2025

NON-BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY ACT (Act No. 21 of 2023)

NON-BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY (SUPERVISORY LEVIES) REGULATIONS, 2025 (Published on 29th August, 2025)

ARRANGEMENT OF REGULATIONS

REGULATION

  1. Citation
  2. Supervisory levies
  3. Basis of calculations of supervisory levies
  4. Collection of supervisory levies
  5. Interest on unpaid supervisory levies
  6. Penalty levy
  7. Revocation of S.I. No. 65 of 2023 SCHEDULE

IN EXERCISE of the powers conferred on the Minister of Finance by section 37 of the Non-Bank Financial Institutions Regulatory Authority Act, and on recommendation of the Regulatory Authority, the following Regulations are hereby made —

  1. These Regulations may be cited as Non-Bank Financial Institutions Citation Regulatory Authority (Supervisory Levies) Regulations, 2025.

  2. A non-bank financial institution specified in the first column of the Schedule Supervisory shall, in each financial year, pay the supervisory levies set out in the second levies column of the Schedule.

  3. The basis of calculation of supervisory levies for each financial year shall Basis of the be the recovery of operational costs associated with carrying out supervisory calculation of activities in relation to a non-bank financial institution. supervisory levies

  4. A non-bank financial institution shall pay the supervisory levies set out Collection of on the second column of the Schedule to the Regulatory Authority in two equal supervisory instalments — levies (a) on or before 30th April of each financial year; and (b) on or before 31st October of each financial year.

  5. (1) A non-bank financial institution shall pay interest on any unpaid Interest on supervisory levies to the Regulatory Authority at the end of each financial year. unpaid (2) Any interest paid under subregulation (1) shall be at a rate equal to the supervisory prevailing prime interest rate. levies

  6. (1) The Regulatory Authority shall impose a penalty levy on a non-bank Penalty levy financial institution where a misstatement or other non-compliance by the non- bank financial institution leads to an under-collection of a supervisory levy. (2) Any penalty imposed under subregulation (1) shall be at a rate equal to the prevailing prime interest per thousand Pula of the under-collection.

  7. The Non-Bank Financial Institutions Regulatory Authority (Supervisory Revocation of Levies) Regulations, are hereby revoked. S.I. No. 65 of 2023

C.1144

SCHEDULE

SUPERVISORY LEVIES (regulation 2)

First ColumnSecond Column
Non-Bank Financial InstitutionSupervisory Levy
1. Assets Managers (excluding International Financial Services Centre Asset Managers)P40, 452 and 0.0254% per annum of the total values of investments managed by an asset manager at the end of each month of the financial year.
2. Central Securities DepositoriesP220,610
3. Securities ExchangesP220,610
4. Custodians of Collective Investment UndertakingsP80,897
5. Insurance BrokersP16, 185 and 0.1935% of the Insurance Revenue as reported in their most recently audited financial statements.
6. Insurance CompaniesP80,897 and 0.1935% of the Insurance Revenue, as reported in their most recently audited financial statements.
7. Corporate Insurance AgentsP7,722
8. International Financial Services Centre CompaniesP44,491
9. Management Companies of Collective Investment UndertakingP40,452 and 0.0254% per annum of the total values of investments managed by an Asset Manager at the end of each month of the financial year.
10. Micro lenders
(a) Average loan book values above 1,000,0000.774% per annum of a micro lender’s total loan book at the end of each month of the financial year.
(b) average loan book values up to 1,000,000P7,737 per annum

C.1145

11. Transfer Agents/Transfer SecretariesP13,340
12. Trustees of Collective Investment UndertakingsP80,897
13. Central Counter PartyP242,672
14. Pawnshops
(a) Average loan book values above P1,000,0000.774% per annum of a micro lender’s total loan book at the end of each month of the financial year.
(b) Average loan book values up P1,000,000P7,737 per annum
15. Retirement FundsP332 and P21 in respect of each member at the end of each financial year.
16. Participants/market makerP36,777
17. Security Brokers/DealersP73,541
18. Medical Aid FundsP7, 905 and P21 in respect of each member at the end of each financial year.
19. Finance and Leasing Companies
(a) Average loan book values above P1,000,0000.774% per annum of a micro lender’s total loan book at the end of each month of the financial year.
(b) Average loan book values up to P1,000,000P7,737 per annum
20. Retirement Fund AdministratorP8,896 and P734 per annum
21. Investment AdvisorsP10,017 per annum

MADE this 18th day August, 2025.

NKOSINATHI NDABA GAOLATHE, Minister of Finance.

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