THE Bank of Zambia (BoZ) has approved the Statement of Affairs for the Development Bank of Zambia (DBZ), which is currently under its possession. In July 2023, the Bank of Zambia took over the Development Bank of Zambia (DBZ) and Betternow Finance Company Limited. This action was taken because the BoZ determined that DBZ was undercapitalized and that Betternow Finance Company Limited was insolvent. During the period of possession, BoZ will prepare statements of affairs detailing the institutions’ assets and liabilities, and take any other necessary actions in accordance with the Banking and Financial Services Act of 2017. In a notice regarding the Statement of Affairs and Resolution of DBZ, issued on Wednesday, Bank of Zambia Communications Assistant Director Besnat...