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The Financial Sector Conduct Authority (FSCA) has revoked the financial services provider licence of Banxso, marking an escalation in its regulatory action after receiving consumer complaints about the business.
AFRIMARKETS

Financial watchdog revokes Banxso’s licence

AfriMarkets distances itself from the company as its own licence is provisionally withdrawn

  • Lyse Comins
6 min read
Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way. (Photo: Ithala)
BANKING LICENCE

Ithala’s chief executive wants policy intervention for the ‘financially sound’ institution

KwaZulu-Natal economic development MEC Musa Zondi said the ‘crisis’ at the finance institution, which had its licence suspended last week, was being addressed with urgency

  • Des Erasmus
6 min read