NBFIRA Botswana: Cautions Public Against Unlicensed Financial Services Provider

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) hereby cautions members of the public to exercise extreme vigilance when dealing with Prestige Wealth Investments (Pty) Ltd (PWI). It has come to the attention of the Authority that promotional material relating to Prestige Wealth Investments (PWI) is being circulated in Botswana, including material advertising an event promoted in Gaborone. Prestige Wealth Investments is not licensed or authorised by NBFIRA to conduct regulated financial services business in Botswana. The entity is not registered as a financial services provider and holds no authorisation to solicit, receive or manage funds from members of the public in Botswana. Accordingly, NBFIRA warns members of the public to exercise caution when engaging with Prestige Wealth Investments, or with any promotional material relating to cryptocurrency, virtual asset or investment opportunities associated with the entity. Persons who transact with unlicensed entities do so at their own risk and may have no regulatory recourse should they suffer loss. Members of the public should be alert to the following warning signs: Before committing funds, members of the public are encouraged to verify the licensing status of any entity offering financial services through NBFIRAs register of licensed entities, available on the Authoritys website. Anyone who encounters a suspicious investment scheme or an unauthorised financial service provider is encouraged to report the matter through NBFIRAs official communication channels. Engaging with unlicensed financial service providers exposes consumers to significant risks, including financial loss, fraud, and absence of regulatory protection. For verification or to report suspicious activities, please contact: Non-Bank Financial Institutions Regulatory Authority (NBFIRA) Tel: +267 3686100 / 3102595 Email: info@nbfira.org.bw Website: www.nbfira.org.bw