Capifund

Capifund is a Botswana‐based micro-lender operating under license 11/1/6 (129) issued by NBFIRA (the Non-Bank Financial Institutions Regulatory Authority). As a licensed micro-lending institution, it provides short-term lending products such as payday loans, pawn loans, and other short-term credit facilities. These products allow borrowers to access cash quickly, often secured (in the case of pawn loans) or unsecured (for payday and short-term cash loans), with repayment terms typically up to three months. The interest rates start at around 20%, though the exact cost to the borrower depends on the loan type, amount, term, and any additional fees or charges (such as late payment penalties or charges for early settlement).

Regulation and oversight of such lenders are guided by the Micro Lending Regulations (Statutory Instrument No. 14 of 2012), which set out requirements for licensing, disclosures, borrower protections, and operational conduct. Under these rules, lenders must clearly disclose in the loan agreement all salient features—such as principal, total repayable, number and amount of installments, interest rate, and any penalties. Borrowers have rights to understand all terms before signing, and there are restrictions on practices like taking official documents or bank cards. The NBFIRA does not currently impose a cap on maximum interest rates (though guidelines on maximum cost of credit are contemplated), which means lenders like Capifund have some leeway in setting rates, provided they comply with regulations around reasonableness and disclosure.