The Bank of Botswana has revoked, with immediate effect, the licence issued to Sherwood Bureau de Change to transact foreign exchange business, following the bureau’s cessation of operations and voluntary surrender of its licence. The central bank advised the public not to transact foreign exchange business with any person purporting to trade in the name of Sherwood Bureau de Change. It also reiterated that buying and selling foreign currency without a valid Bank of Botswana licence is a criminal offence under Section 30(4) of the Bank of Botswana Act.
Bank of Botswana 2025-04-04
Bank of Botswana revokes Sherwood Bureau de Change licence with immediate effect following voluntary surrender
The Bank of Botswana has revoked the licence of Sherwood Bureau de Change following its cessation of operations and voluntary licence surrender. The central bank warned against transacting with entities claiming to operate under Sherwood's name and reminded that trading foreign currency without a valid licence is a criminal offence under the Bank of Botswana Act.