The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has issued a public caution against Prestige Wealth Investments (PWI), warning that the entity operates without authorization to conduct regulated financial services in Botswana. The alert, issued on September 4, 2026, follows the circulation of promotional materials for PWI in the country, including advertisements for events in Gaborone.
- Regulatory Status: PWI is not licensed or authorized by NBFIRA
- Prohibited Activities: Not registered to solicit, receive, or manage public funds
- Focus Areas: Cryptocurrency and virtual asset investment opportunities
- Key Warning: Transacting with unlicensed entities provides no regulatory recourse for losses
NBFIRA identified several red flags associated with PWI’s operations, including promises of unrealistic or guaranteed investment returns, requests for upfront payments in virtual assets, compensation schemes dependent on recruiting additional participants, and pressure tactics to secure immediate payments. The regulator noted that promotional materials often contain limited, vague, or insufficient information about investment opportunities and the individuals operating the scheme.
The authority urged consumers to verify the licensing status of any financial services provider through NBFIRA’s official register before committing funds. Individuals encountering suspicious investment schemes or unauthorized financial service providers are encouraged to report them immediately to NBFIRA via telephone at +267 3686100 or 3102595, email at info@nbfira.org.bw, or through the regulator’s website at www.nbfira.org.bw.
NBFIRA, established to oversee non-bank financial institutions, emphasized that engaging with unlicensed providers exposes consumers to significant risks, including financial loss, fraud, and the absence of regulatory protections available through licensed entities.
