NBFIRA consults on Medical Aid Funds Bill 2023

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA), in collaboration with the Ministry of Finance, held a consultation meeting with union federations and various trade unions to gather their input on the Medical Aid Funds Bill 2023. The proposed legislation is intended to regulate Medical Aid Funds in accordance with international best practices. The primary objectives of the Bill is to establish detailed regulations and supervision protocols for Medical Aid Funds; to ensure the protection of members of the Medical Aid fund, to contribute to the overall stability and soundness of Medical Aid Funds as well as to strengthen the sector’s corporate governance. The consultative meeting was attended by organisations such as the Botswana Federation of Trade Unions (BFTU) and Botswana Federation of Public, Private and Parastatal Sector Unions (BOFEPUSU), along with trade unions such as Botswana Mine Workers Union (BMWU), Botswana Nurses Union (BONU), Botswana Teachers Union (BTU), Trainers and Allied Workers Union (TAWU), BOMAID Union, and Botswana Financial Institutions and Allied Workers Union (BOFIAWU). ‘Trade unions play a pivotal role in shaping the Medical Aid Fund Bill 2023, as a significant portion of the Medical Aid members are affiliated with the unions. In addition to the Trade Unions, other stakeholders consulted on the Bill include the Ministry of Health, Botswana Council of Non-Governmental Organisations, Business Botswana, and various associations within the healthcare sector, such as the Doctor’s Association, Dental Association, Pharmaceutical, Medical Practitioner’s Group of Botswana, Radiographers Society of Botswana, and Physiotherapy Association’.