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Mugabe cautions greedy bank execs

Nov 29 2012 12:25
Malcom Sharara, Fin24’s correspondent in Zimbabwe

Harare - President Robert Mugabe on Tuesday said bank executives and shareholders who abuse depositors’ funds should be jailed for such criminal actions.

“If you do that then you deserve to go to jail (because) they are not your funds so don’t cheat or steal,” Mugabe said at the ongoing inaugural two-day Economic Empowerment conference which ends on Wednesday.

He added that fly by night businessman were mostly responsible for such unlawful activities.

“Some of our people think they can get rich in a week or two and if they don’t then it doesn’t matter what other means they use to get money,” Mugabe said.

Mugabe's remarks were in reference to Interfin Banking Corporation which had a capital deficit of more than US$100m at the time of its closure.

In 2012 Patterson Timba's Renaissance Merchant Bank was put under curatorship after it was found guilty of abusing millions of depositors funds.

 - Fin24


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robert mugabe  |  zimbabwe  |  fraud  |  corruption



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