News / National
Lion Microfinance placed under curatorship
27 Jul 2019 at 17:35hrs | Views
LION MICROFINANCE LIMITED PLACED UNDER THE MANAGEMENT OF A CURATOR
Notice is hereby given that LION MICROFINANCE LIMITED has today, been placed under the management of a Curator, for a period of three months in terms of the Microfinance Act [Chapter 24:29].
This follows a determination that the institution is not in a sound financial condition mainly due to critical undercapitalization and weak corporate governance.
Further, take notice that the Deposit Protection Corporation has been appointed the Curator of Lion Microfinance Limited.
Notice is hereby given that LION MICROFINANCE LIMITED has today, been placed under the management of a Curator, for a period of three months in terms of the Microfinance Act [Chapter 24:29].
This follows a determination that the institution is not in a sound financial condition mainly due to critical undercapitalization and weak corporate governance.
Further, take notice that the Deposit Protection Corporation has been appointed the Curator of Lion Microfinance Limited.
Source - RBZ
