Photo: Chandapiwa Malema, Wikimedia Commons, CC BY-SA 4.0NBFIRA: Botswana's insurance and medical aid regulator
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What NBFIRA does
"The Non Bank Financial Institutions Regulatory Authority Act and the Insurance Industry Act and the International Insurance Act regulate the establishment, licensing and operation of short-term insurers in Botswana" (NBFIRA). The current law establishing the authority is the NBFIRA Act, 2023.
The Insurance Industry Act (Cap. 46:01) — Act 10 of 2015, in force since 17 May 2019 — provides "for the licensing, governance and regulation of all insurers, insurance brokers, insurance agents and representatives operating in Botswana".
Medical aid funds are regulated and supervised by NBFIRA under the NBFIRA Act (NBFIRA).
NBFIRA's sector in figures
The number of licensed NBFIs rose from 799 in 2022 to 823 in 2023, while insurance entities fell from 250 to 242 (NBFIRA Annual Report 2023). In Table 15 of that report, insurance counts 9 life insurers, 11 general insurers, 6 reinsurers and 5 medical aid funds.
| Indicator (2022) | Figure |
|---|---|
| Gross premium written, all insurers | P6,239 million |
| Life insurers: gross premium written / claims | P4,507 million / P2,702 million (9 insurers) |
| General insurers: gross premium written / claims | P1,732 million / P482 million (11 insurers) |
| Medical aid funds: contributions / claims | P2,266 million / P2,161 million (5 funds) |
| Assets: life insurers / general insurers / medical aid funds | P19,052 million / P2,552 million / P1,504 million |
Source: NBFIRA Annual Report 2023, Table 15 and Appendix 4.
Contacts and complaints
Private Bag 00314, 3rd floor, Exponential Building, Plot 54351, New CBD, off PG Matante Road, Gaborone · +267 310 2595 / 368 6100 · info@nbfira.org.bw · Monday to Friday, 08:00 to 17:00 (NBFIRA).
Complaints reach NBFIRA only after the insurer's own procedure: how to complain. Check a licence: check an insurer, agent or broker.
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Frequently asked questions
What does NBFIRA stand for?
Non-Bank Financial Institutions Regulatory Authority, the regulator of insurers, medical aid funds, retirement funds, capital markets and lenders other than banks in Botswana.
What is NBFIRA's phone number?
+267 310 2595 / 368 6100; e-mail info@nbfira.org.bw.
Which law governs insurance in Botswana?
The Insurance Industry Act (Cap. 46:01), Act 10 of 2015, in force since 17 May 2019, together with the NBFIRA Act and the International Insurance Act.
Sources
- NBFIRA — Insurance: regulatory framework (NBFIRA Act, Insurance Industry Act, International Insurance Act) (Web Archive copy of 20 January 2025)
- Non-Bank Financial Institutions Regulatory Authority Act, 2023 — NBFIRA copy (Web Archive copy)
- Insurance Industry Act (Cap. 46:01), Act 10 of 2015, in force 17 May 2019 — arrangement of sections, Botswana Laws (full text behind a paywall: sections cited by their heading)
- NBFIRA — Medical Aid Funds: regulation under the NBFIRA Act and registered funds (Web Archive copy of 21 January 2025)
- NBFIRA — Annual Report 2023: Table 15, Appendix 4 (indicators for insurers), Appendices 6–7 and 9B–9C (lists of insurers and medical aid funds) (Web Archive copy)
- NBFIRA — Regulated entities, contacts and RBSS portal (Web Archive copy of 22 October 2026)
- NBFIRA — Complaints: procedure to follow before lodging a complaint with NBFIRA (Web Archive copy of 22 October 2026)