Regulatory Alerts2025-01-01
Bank of Zambia Takes Possession of Ecsponent Financial Services Limited (MyBucks)
The Bank of Zambia has taken possession of Ecsponent Financial Services Limited, trading as MyBucks, effective February 16, 2025. Pursuant to Section 64 of the Banking and Financial Services Act, 2017, MyBucks will continue business operations on a restricted basis under Possession Manager Rhoda Z Nkhata. All heads of financial and payment service providers are directed to acknowledge this regulatory action and align their operational engagements with the new possession framework.
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