Zampost Microfinance Liquidated

The Bank of Zambia (BOZ) has placed under Compulsory Liquidation Zampost Microfinance Limited.

Deputy Governor Dr Francis Chipimo has made the announcement which is said to be with immediate effect.

“In line with the requirement of section 127(2) of the Banking and Financial Services Act (BFSA), the bank wishes to inform the shareholders, directors, depositors, creditors and any other interested party that Zampost microfinance limited has been placed into compulsory liquidation, with immediate effect,” he stated.

Dr Chipimo has since urged shareholders, directors, depositors, creditors and any other party interested within 30 days from the date of the notice to file an appeal against the liquidation order to court, stating grounds for objection, in accordance with section 127(3).

“During the liquidation period, the activities of Zampost Microfinance Limited will be restricted to realization of assets and discharging of the institution’s obligations,” He added.

Dr Chipimo has further stated that the Central Bank has since appointed a liquidation manager to oversee the activities of the liquidation process.

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