TransparencyOversight & ethics enforcement

Botswana Geoscience Institute staff say they were enrolled in retirement policies without consent, and accuse the financial regulator of failing to act

Confidence: Corroborated · 2 sourcesBotswana · Oct 12, 2026

Subject of this story

Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

Botswana Geoscience Institute

Botswana Life Insurance Limited

Also named

Advocate

Botswana Public Employees Union (BOPEU)

What happened

Employees of the Botswana Geoscience Institute (BGI) say management and Botswana Life Insurance set up individual retirement policies for permanent staff when BGI was formed in 2015 without asking for their agreement, while they expected an employer pension scheme. A May 2021 Sunday Standard report carried the same pension mis-selling allegations from the Botswana Public Employees Union. Staff have since petitioned Finance Minister Ndaba Gaolathe, alleging the regulator NBFIRA has failed to act against Botswana Life and that an internal BGI task team, which found procurement irregularities in setting up the scheme, was not acted on by the employer. BGI and NBFIRA did not respond in the sources reviewed; these are the employees' allegations.

Sources (2)

MmegiBGI employees petitioned Finance Minister Ndaba Gaolathe alleging the employer 'violated the procurement processes when establishing this pension fund,' and that a BGI task team's findings were never acted on.

Sunday StandardBotswana Geoscience Institute (BGI) is accused of conniving with Botswana Life Insurance Limited over pension arrangements affecting employees.

Response

Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

No response by publication

Contacted — no response by publication.

Botswana Geoscience Institute

No response by publication

Contacted — no response by publication.

Botswana Life Insurance Limited

Not yet contacted

Not yet contacted for this story.

What happened next (0)

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