Company Profile

1. INTRODUCTION

• Cactus Money Transfers Limited, formerly Cactus Financial Services Limited, was incorporated on 9^th November, 2007 to provide money transfer services under the Western Union Franchise.
• Its certificate of designation from Bank of Zambia was issued on 14^th November 2008.
• It signed an International Representation Agreement with Western Union Network (France) SAS on 10^th March, 2009.
• It started its trading activities on 9^th April, 2009. Initially, it was offering only international money transfer services under Western Union but in January 2015 it added to its services a domestic money transfer service called ZOONA. It has since added agency banking services under ZANACO Xpress, FNB Cash Plus, INDO and Atlasmara.
• The company’s Head Office is split between two cities: Ndola hosts the company’s administration headquarters while Lusaka hosts the company’s operations Headquarters. The administration Headquarters is at number 4 Shibuchinga Close, Northrise, Ndola; the operations headquarters is at shop number 3, Luangwa House, Cairo Road, Lusaka.

2. OWNERSHIP OF THE COMPANY

The company is fully owned by Zambian shareholders. All the shareholders are Board members and all Board members are shareholders, except for the independent Board Chairman and one Shareholder who has appointed a nominee to represent him on the Board.

3. SERVICE DESCRIPTION

We pre-dominantly provide consumer-to-consumer international money transfer services Agency Banking Services.