13 Jan 2013

The Bank of Botswana has revoked the API Bureau de Change trading licence with immediate effect.

A release from the bank says pursuant to Section 30(1) of the Bank of Botswana Act (CAP. 55:01), read with the Bank of Botswana (Bureaux de Change) Regulations, 2004, BoB revoked with immediate effect, the licence to transact foreign exchange business issued to API Bureau de Change.

The Bureau de Change voluntarily surrendered its licence. Accordingly, the public was advised not to transact foreign exchange business with any person purporting to trade in the name of API Bureau de Change.

The statement further says “members of the public are also reminded that it is a criminal offence, under Section 30(4) of the Bank of Botswana Act (CAP. 55:01) to conduct foreign exchange business without a valid licence. ENDS