Gono changes his mind on indigenisation

Central Bank governor Gideon Gono today said banks should observe the laws of the country including indigenisation. But he said this should be done in an orderly manner. Gono who had previously been against the localisation of foreign banks said: “All banks should observe the laws of the country including the indigenisation law.” But he added: “The process to indigenise the banks should, however, take cognisance of the sensitivities around the operation of the banks to restore confidence, trust and stability in the sector.”

(23 VIEWS)