Stanchart Talking To Kasukuwere About Ownership

Standard Chartered says it is still in talks with the Zimbabwe government about ceding ownership to locals.

Vicki Robinson, a spokeswoman for the London-based bank said:

We remain in discussion with the government of Zimbabwe on this. Standard Chartered has taken the conscious decision to continue to maintain our long-standing commitment to doing business in Zimbabwe.

The head of the  the state-owned National Indigenization and Economic Empowerment Board (NIEEB) says Standard Chartered could lose its license if it does not comply with the country’s indeginsation laws.

This has resulted in a public spat between Indeginisation and Empowerment minister Saviour Kasukuwere and Reserve Bank Governor Gideon Gono.

With information from Bloomberg