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Foreign Banks In Zimbabwe Forced To Hand Over Majority Ownership To...

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AFRICANGLOBE - Foreign banks in Zimbabwe may have put behind them worries over the country’s indigenisation policy, with Empowerment Minister Francis Nhema saying last week that all of them – except one – had now agreed to transfer majority shares into the hands of Black Zimbabweans.

Zimbabwe Threatens Foreign Banks With Expulsion

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AFRICANGLOBE - Foreign-owned banks in Zimbabwe –Barclays, Stanbic Bank and Standard Chartered Bank — have been told they can leave the country if they are not prepared to support its industries, it was reported on Friday. Zimbabwe’s Indigenisation and Empowerment Minister Saviour Kasukuwere told African editors, who are in Zimbabwe at the invitation of the Zimbabwe National Editors Forum, that the banks were not supportive of the country’s economy.

Ecobank Moves to Zimbabwe Despite Indigenisation Laws

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AFRICANGLOBE - Nigeria's Ecobank International says it plans to grow its Zimbabwean portfolio despite policies by that country's government that require foreign banks to cede more than half of their shareholding to locals under empowerment laws.
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