Harare - South African and other international banks operating in Zimbabwe might be forced to list on the Zimbabwe Stock Exchange, a government minister reportedly said.
Finance Minister Tendai Biti was quoted by The Herald as saying the Zimbabwean government will enact laws requiring all banks to list on the ZSE to help them raise capital.
“Hopefully, the regulations will be gazetted this Friday to compel banks to list on the stock exchange in the next two years,” Biti said.
He said the proposed laws are meant to help prevent future bank failures in the country.
He added that they would also compel banks to make their services more accessible to rural people.
South African banks operating in Zimbabwe but not listed include Stanbic Bank (Standard Bank Group [JSE:SBK]), MBCA (Nedbank Group [JSE:NED]), and CABS (Old Mutual [JSE:OML]).
Other international banks are Barclays Bank, which is already listed, and Standard Chartered Bank.
- Fin24
Finance Minister Tendai Biti was quoted by The Herald as saying the Zimbabwean government will enact laws requiring all banks to list on the ZSE to help them raise capital.
“Hopefully, the regulations will be gazetted this Friday to compel banks to list on the stock exchange in the next two years,” Biti said.
He said the proposed laws are meant to help prevent future bank failures in the country.
He added that they would also compel banks to make their services more accessible to rural people.
South African banks operating in Zimbabwe but not listed include Stanbic Bank (Standard Bank Group [JSE:SBK]), MBCA (Nedbank Group [JSE:NED]), and CABS (Old Mutual [JSE:OML]).
Other international banks are Barclays Bank, which is already listed, and Standard Chartered Bank.
- Fin24