Zimbabwe gives banks a year to hand over stakes
Zimbabwe has given foreign-owned banks one year to hand over 51% stakes to locals, according to a government notice, as President Robert Mugabe ramps up a drive to force all foreign-owned businesses to surrender majority control to blacks.
Zimbabwe Banks are ready to issue out new US dollar bills to replace old, dirty and defaced notes in circulation if the public and corporates deposit the money, the Bankers Association of Zimbabwe has said.