Regulatory Alerts2023-07-21
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CB Circular No. 20/2023: Notice of Taking Possession of Betternow Finance Company Limited
The Bank of Zambia has taken immediate possession of Betternow Finance Company Limited pursuant to Section 64 of the Banking and Financial Services Act, 2017. The entity will maintain restricted operations under Possession Manager Mr. Mumbi Kapaso, who now assumes control over all payment instructions and bank account activities at financial service providers. Financial institutions are directed to process all relevant transactions through the Possession Manager effective July 21, 2023.
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