Bureau de Change Licence Revoked

Monday, November 10, 2014

The Bank of Botswana has announced to members of the public that, pursuant to Section 30(1) of the Bank of Botswana Act read in conjunction with the Bank of Botswana (Bureaux de Change) Regulations, 2004, it has revoked with immediate effect, the licence issued to Premier Bureau de Change to transact foreign exchange business, due to non-compliance with the regulations.

Accordingly, the public is advised not to transact foreign exchange business with any person purporting to trade in the name of Premier Bureau de Change, the bank said in a statement. In the press release, Bank of Botswana head of communications, Andrew Sesinyi also reminded the public that it is a criminal offence, to conduct the business of buying and selling foreign currency without a valid licence issued by the Bank.

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