The application was handed to the
"We have made an application. There are a number of requirements that they [RBZ] want us to put in place such as the number of prospective board members and company secretary," Matiza told Standardbusiness.
Matiza said the proposed name for the institution will be
Early this month, NSSA surrendered the operating licence of its 84% owned subsidiary,
It said appropriate public notices shall be issued in due course concerning payments to depositors and other creditors.
The move to surrender the licence comes after the realisation that
RMB was placed under curatorship in 2011 after an investigation by the central bank unearthed the abuse of depositors' fund by founding shareholders.
NSSA moved into the then RMB in 2012 in a
NSSA said at the time it was swooping in on RMB as a gateway to
Despite the rebranding exercise,
The two shareholders NSSA on one hand and
Timba and his partners own the remaining 16%.
The winding down of
The board's tenure ended in August last year and NSSA is currently operating without a board.
"What we have lost in
NSSA has interest in banks, insurance and properties. It has a 35,12% stake in
The authority also has a controlling shareholding in hospitality concern,
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