Countries / Botswana
Loan management software in Botswana
For money lenders and microfinance companies in Botswana: borrowers checked by Omang number, phone numbers in +267 form, money in Botswana Pula (P) and reports you can hand to NBFIRA, on a phone or a computer.
- Money
- Botswana Pula (P)
- Phone numbers
- +267, like 71 234 567
- Borrower ID
- Omang number, like 123456789
- Region
- On every borrower's address
- Plans
- From $39 a month, in US dollars
How borrowers repay
Orange Money, MyZaka and Smega, debit orders from the bank, and payroll deductions for public servants. Each payment is recorded against the right instalment, with a receipt, whichever way it came in.
Who licenses lenders
Micro lenders are registered and supervised by NBFIRA, the Non-Bank Financial Institutions Regulatory Authority. Spindle Loans keeps the loan register, signed agreements, key facts and a complaints log, ready to show when you are asked.
A typical loan
Personal loan, repaid monthly by payroll deduction: P2,500.00 over 6 months at 5% a month, flat, is 6 instalments of P541.66, P750.00 interest in total. This rate is only an example: you set your own rates, fees and penalties on each loan product.
Reminders and receipts can go out by text through a provider in your country, which we connect for you. You pay for Spindle Loans in US dollars by bank transfer; your system opens the day the money arrives.
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