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banking Gono warns of against seizure

July 30 2012 at 05:00am
By Bloomberg

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Zimbabwe’s central bank chief warned on Friday the economy could grind to a halt if the government rushed its planned seizure of majority stakes in foreign banks. Gideon Gono said: “The implementation of indigenisation and economic empowerment regulations in the banking sector should be done in a manner that preserves confidence since any adverse developments in the banking sector could grind economic activity to a screeching halt.” – Sapa-AFP


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