THE Bank of Zambia (BOZ) has resolved to terminate the possession of Betternow Finance Company Limited and cancel the licence which allowed the institution to operate as a financial service provider. According to a circular dated September 24,2024 addressed to chief executive officers of financial service providers, the Central Bank terminated the licence after concluding Betternow’s Statement of Affairs on June 25, 2024. In the same circular, BOZ Deputy Governor and Registrar of Financial Service Providers Francis Chipimo stated that the statement of affairs confirmed that Betternow was indeed insolvent and the extent of the insolvency was assessed to be K25.5 million. “NOTICE ON STATEMENT OF AFFAIRS AND CANCELLATION OF LICENCE OF BETTERNOW FINANCE COMPANY LIMITED. Notice is hereby given...