Sunday, July 8, 2012

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

Africa - Voice of America
africa
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 ...

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