Bureau De Change Loses Licence

Monday, October 17, 2016

Bank of Botswana has informed members of the public that, pursuant to Section 30 of the Bank of Botswana Act, read in conjunction with the Bank of Botswana (Bureaux de Change) Regulations, it has revoked with immediate effect, the licences issued to Cape to Cairo Bureau de Change, following its decision to voluntarily close operations.

Accordingly, the bank said the public is advised not to transact foreign exchange business with any person purporting to trade in the name of Cape to Cairo Bureau de Change.Members of the public are also reminded that it is a criminal offence under Section 30 of the Bank of Botswana Act, to conduct the business of buying and selling foreign currency, without a valid licence issued by the bank, a statement from the central bank said.

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