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Zimbabwe Reviews Indeginisation Law

JOHANNESBURG—President Robert Mugabe’s government will review controversial legislation that has deterred foreign investment and dented Zimbabwe’s economy, an official said on Thursday. The administration is setting up a special task force to amend the so-called indigenization law, which requires foreign-owned companies to cede a 51% stake in their business to …

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Reserve Bank of Zimbabwe cancels Capital Bank’s licence

HARARE — The Reserve Bank of Zimbabwe on Thursday announced the cancellation of Capital Bank’s banking licence, sowing fresh doubt into the stability of indigenously-owned banks in the country. Zimbabwe’s financial services sector has been hard-hit by a persistent liquidity crunch and depositor flight, with indigenously owned banks hardest hit. …

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