Bank of Zambia Takes Possession of Ecsponent Financial Services Limited (MyBucks)

[Logo: Bank of Zambia]

Bank of Zambia

OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DG/prs/bp

February 16, 2025

CB Circular No. : 09/2025

To : All Heads of Financial Service Providers All Heads of Payment System Providers

BANK OF ZAMBIA POSSESSION OF ECSONPENT FINANCIAL SERVICES LIMITED

Please be advised that the Bank of Zambia has taken possession of Ecsponent Financial Services Limited (T/A 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 the Possession Manager, Ms. Rhoda Z Nkhata, appointed by the Bank of Zambia.

Kindly be advised accordingly.

[Signature]

Francis Chipimo (PhD)
DEPUTY GOVERNOR AND REGISTRAR OF FINANCIAL SERVICE PROVIDERS

cc Governor,
Deputy Governor – Administration
Deputy Registrar of Financial Service Providers Director – Financial Markets Director – Prudential Supervision Director – Financial Conduct Supervision Director – Payments Systems Director – Banking and Currency Deputy General Counsel

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Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm