{"id":12066,"date":"2012-07-03T12:12:45","date_gmt":"2012-07-03T10:12:45","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/zimbabwe-gives-banks-a-year-to-hand-over-stakes\/"},"modified":"2012-07-03T12:12:45","modified_gmt":"2012-07-03T10:12:45","slug":"zimbabwe-gives-banks-a-year-to-hand-over-stakes","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/zimbabwe-gives-banks-a-year-to-hand-over-stakes\/","title":{"rendered":"Zimbabwe gives banks a year to hand over stakes"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Targeting banks part of drive against foreign firms<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Mining firms complied with local ownership law<\/p>\n<p><span><\/span><\/p>\n<p>* Private schools, energy and tourism firms targeted<\/p>\n<p><span><\/span><\/p>\n<p>By MacDonald Dzirutwe<\/p>\n<p><span><\/span><\/p>\n<p>HARARE, July 3 (Reuters) &#8211; Zimbabwe has given foreign-owned<br \/>\nbanks one year to hand over 51 percent stakes to locals,<br \/>\naccording to a government notice, as President Robert Mugabe<br \/>\nramps up a drive to force all foreign-owned businesses to<br \/>\nsurrender majority control to blacks.<\/p>\n<p><span><\/span><\/p>\n<p>A government notice released last week said all<br \/>\nforeign-owned banks with a minimum net value of $1 had one year<br \/>\nto reduce their shareholding to 49 percent.<\/p>\n<p><span><\/span><\/p>\n<p>The southern African state has already forced mining<br \/>\ncompanies such as Rio Tinto and Impala Platinum<br \/>\n, the world&#8217;s second-largest platinum miner, to turn<br \/>\nover majority stakes in their local units to black Zimbabweans.<\/p>\n<p><span><\/span><\/p>\n<p>Emboldened by his success against miners, empowerment<br \/>\nminister Saviour Kasukuwere is now targeting banks.<\/p>\n<p><span><\/span><\/p>\n<p>Kasukuwere, a 41-year-old member of Mugabe&#8217;s ZANU-PF party,<br \/>\nhas clashed with central bank Governor Gideon Gono and Finance<br \/>\nMinister Tendai Biti over the banking sector.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Targeting banks part of drive against foreign firms * Mining firms complied with local ownership law * Private schools, energy and tourism firms targeted By MacDonald Dzirutwe HARARE, July 3 (Reuters) &#8211; Zimbabwe has given foreign-owned banks one year to hand over 51 percent stakes to locals, according to a government notice, as President [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12066","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12066"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12066\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}