Section 8 of the NBFIRA Act provides that the principal objectives of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is to regulate and supervise non-bank financial institutions (“NBFIs”). Securities Infrastructure Businesses (“SIBs”) are non-bank financial institutions, thus regulated by the NBFIRA. These Securities Infrastructure Businesses include;
- an Exchange
- a Central Security Depository
- a Clearance and Settlement System other than a Central Securities Depository; or
- a Clearance and Settlement encompassing a Central Counterparty.
The NBFIRA supervises the Botswana Stock Exchange Limited (BSE), which operates as a securities exchange and the Central Securities Depository Company of Botswana (CSDB) which is a 100% subsidiary of the Botswana Stock Exchange Limited.