The Bank of Botswana revoked, with immediate effect, the licence of Pennies and Cents Bureau de Change to transact foreign exchange business following the cessation of operations and the bureau de change’s voluntary surrender of its licence. The Bank advised the public not to transact foreign exchange business with any person purporting to trade in the name of Pennies and Cents Bureau de Change, and reminded the public that buying and selling foreign currency without a valid licence issued by the Bank is a criminal offence under Section 30(4) of the Bank of Botswana Act.
Bank of Botswana 2025-03-12
Bank of Botswana revokes Pennies and Cents Bureau de Change licence with immediate effect after voluntary surrender
The Bank of Botswana revoked the licence of Pennies and Cents Bureau de Change following its cessation of operations and voluntary licence surrender. The Bank warned the public against transacting with entities claiming to operate under this name and reminded that trading foreign currency without a valid licence is a criminal offence under the Bank of Botswana Act.