Bank of Botswana Officials Trained on Credit Information Sharing

MEFMI conducted a workshop on Credit Information Sharing for the Bank of Botswana from 25 – 29 September 2023. The Bank of Botswana was mandated to regulate credit information sharing following the enactment of the Credit Information Act in 2021. To deliver on this mandate, the Bank formed the Business Conduct and Regulatory Compliance Department to regulate and supervise, among others, the activities of credit bureaus and other credit information providers.

As part of its support to member countries, MEFMI provided training on the operations and oversight of credit bureaus and other credit information providers. The training, which was targeted at staff responsible for enforcing the Credit Information Act, aimed at enhancing the officials’ knowledge of credit information sharing arrangements and the oversight of credit information providers. It covered topics on credit information sharing including the licensing, operations, and supervision of credit reporting to ensure compliance with international best practices in the handling of customer credit information.

A total of 10 Bank of Botswana officials received training on credit information sharing systems. It is expected that the officials will use the knowledge acquired from the training to strengthen the frameworks for regulation and oversight of credit bureaus and other credit information providers in Botswana.

By Noel Mahombera.