Botswana regulator NBFIRA warns Prestige Wealth Investments is not authorised to take public funds
Botswana's regulator NBFIRA said in a public notice dated 4 September 2026 that Prestige Wealth Investments (Pty) Ltd is not licensed or authorised to conduct regulated financial services or to solicit, receive or manage public funds in Botswana.
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Source: jessesingh.org · published
What happened
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA), Botswana's financial regulator, has cautioned the public to exercise extreme vigilance when dealing with Prestige Wealth Investments (Pty) Ltd (PWI). Its public notice, dated 4 September 2026 on NBFIRA's website, says promotional material for PWI is being circulated in Botswana, including material advertising an event promoted in Gaborone. Jesse Singh's MLM news blog drew renewed attention to the notice on 31 October 2026. NBFIRA states that PWI is not licensed or authorised by NBFIRA to conduct regulated financial services business in Botswana.
How the scam works
In its notice NBFIRA says 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. It warns the public to be careful when engaging with PWI, or with any promotional material about cryptocurrency, virtual-asset or investment opportunities associated with the entity. The regulator adds that people who transact with unlicensed entities do so at their own risk and may have no regulatory recourse if they suffer a loss.
NBFIRA lists warning signs for the public: promises of unrealistic or guaranteed returns, crypto or virtual-asset opportunities promoted by unlicensed entities, requests for upfront payments in virtual assets, compensation that depends mainly on recruiting more participants, pressure to act or pay urgently, and limited or vague information about the investment, the people behind it and how returns are generated. It encourages anyone considering a financial service to check the licensing status through the register of licensed entities on its website, and to report suspicious offerings to NBFIRA without delay.
This is a regulatory caution about authorisation. It is not a court finding, and the notice does not itself rule on any other allegation about the business or the people connected to it.
Source
NBFIRA, “Public Notice – Caution Against Unauthorised Financial Services Provider: Prestige Wealth Investments (PWI)”, 4 September 2026; Jesse Singh, MLM News blog, 31 October 2026.
Red flags
- An investment or crypto offer promoted at events by a company that is not on the regulator's list of licensed entities.
- Promises of unrealistic or guaranteed returns.
- Requests for upfront payment in virtual assets.
- Pay that depends mainly on recruiting additional participants.
- Pressure to act or pay urgently, or vague information on the people behind it and how returns are made.
If you were targeted
- 1Before investing, check any firm's status on NBFIRA's register of licensed entities, or your own country's regulator.
- 2Do not give funds to Prestige Wealth Investments or its promoters in Botswana, as NBFIRA says it has no authorisation to take public funds.
- 3Keep records of any payments, messages and promotional material if you have already dealt with the entity.
- 4Report suspicious financial offerings to NBFIRA through its official channels.
- 5Remember that a professional event or website does not show that a firm is licensed.