Economy - Voice of America: Zimbabwe Bank Chief: Don't Indigenize Foreign Banks

Economy - Voice of America economy-and-business

Zimbabwe Bank Chief: Don't Indigenize Foreign Banks Jul 5th 2012, 13:17 The head of Zimbabwe's central bank has warned the government against its plan to make foreign banks give up majority shares in their local operations. A government notice published this week said foreign banks and other firms have one year to transfer a 51 percent stake to black Zimbabweans. In a statement Wednesday, Gideon Gono said he will discuss the matter with President Robert Mugabe but said the regulations are "devoid of detail and rationality" and contradict other ... Media files: 0E23C1AB-F989-4145-9E93-9961CF869DCA_cx0_cy3_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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