NBFIRA Restores BOFUS License :: Mmegi Online

BOSETU Vice President and chairman of Bofus, Mogomotsi Motshegwa has confirmed that the license for BOSETU’s insurance broker firm, BOFUS Insurance brokers, cancelled by regulator, NBFIRA a fortnight ago, has since been restored, paving the way for BOFUS Broker to renew its annual license in the normal process and continue trading.

Motshegwa said the cancellation which caused confusion among Bosetu members recently, was quickly appealed, and NBFIRA restored it.”I must add that as soon as they heard us, NBFIRA advised us to write an appeal, which they favourably acted upon, the problem was not on our side, the problem emanated from third parties especialy issuance of guarantee letters. Both Bofus Insurance broker and the regulator are amicably addressing the challenge and things are normalising; a fact that the Bosetu family will be happy to hear about”, Motshegwa explained.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.