Standard Chartered
Bank says it will quit if the Mugabe regime enact the law limiting foreigners
owning a maximum of 25% of the shares in any financial institution bank’s Africa Chief Executive Diana Layfield told the Wall
Street Journal.
If the law was to be
passed no doubt Mugabe may want to buy the 75% share in Standard Charter for
his daughter Bona. She is now looking for cushy job being appointed CEO of Standard
Charter Bank will be a good start. Ms Diana Layfield would be moved out of her
present office and reassigned to branch manager of a growth point branch or
something!
As the new CEO Bona
will expect a new company house fully furnished and staffed, a chauffeur-
driven company cars one for her and a second one for her husband, a generous salary
package complete with equally generous allowance.
Not that Mugabe will
spend a penny of his own money to buy the shares, he only has to express an
interest and the shares are his.
The Banks will be
granting huge loans to Zanu PF loyalists on the strengths of the applicant's
political connections that is all the collateral the banks will be expected to
value above all else.
One can understand why
Standard Chartered will seriously consider quitting; life will be very difficult
because the only rule that counts is what regime wants and that is a very tough
rule to live by.
1 comment:
@ Guest
When you have an elephant in the room, talk about the elephant and not the tick on its back, a spider on the wall, fleas, everything else but the elephant.
Mugabe's daughter, Bona, has just recovered from her $5 million dollar wedding bliss - all paid for from public funds at a time health service has collapse for lack of funds and 100 children are dying every day from preventable diseases - and will now be looking for a cushy job. No doubt her father is looking to buy her - using public funds of course - majority shares in some foreign own bank. She will then be appointed CEO, get a fully furnished company house, get two chauffeur-driven limos (one for her husband), very generous salary and allowance package, etc. This is exactly what Mugabe did at ZESA when he appointed his brother-in-law, Sydney Gata.
Since all the parastatals are all in a mess, up to their eyes in debt and hardly functioning; the tyrant wants something fresh and healthy for his daughter to loot and all the indigenisation policy provides just the cover he wanted. Force foreigners to sell their shares in the name of the blacks majority although only Mugabe and his cronies will be the only one who will benefit at the expense of the majority and the foreign owners!
OF course most course will have rules and regulation to determine what outside can come in and what they can do. But that is not what is keeping investors out of Zimbabwe so why talk about these trivial issues when there real issue is there. You should learn to keep your eyes on the ball and not let them wonder like a chameleon's eyes!
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