The Registrar of Financial Service Providers has with effect from 1 March 2022 cancelled the non-deposit taking microfinance institution licence of Moneta Finance Limited.
This is in accordance with section 17 of the Banking and Financial Services Act.
The cancellation of the licence is due to failure by Moneta Finance Limited to comply with the provisions of the Banking and Financial Services Act and the Banking and Financial Services (Microfinance) Regulations, 2006.
The cancellation of the licence entails that Moneta Finance Limited ceases to operate as a microfinance institution under the Banking and Financial Services Act and the Banking and Financial Services (Microfinance) Regulations, 2006.
However, the cancellation of the licence does not relieve Moneta Finance Limited of any obligations it incurred or assumed during the period of validity of the licence.
Can someone share who the directors of this firm are? These names came to mind though; Kaizer Zulu and Nostradamus …
So what has Moneta Finance done exactly? The money-lending business thrives on a growing real sector economy. We hv no such economy, so how can the money-lending business be a success? The Zambian economy requires smart government intervention driven by a sound plan at the centre. Such government intervention can be relaxed slowly as local economic champions begin to grow big, strong and prosperous.
Moneta sounds like a name for a sidechick. The proprietors must have annoyed a upnd official, who is now using that tonga boy kalilyalya to inflict revenge
Ah but iwe ka Kaizer Sulu: You once was a shareholder at Moneta. Mwaibala?