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After 130 years in the country, Standard Chartered is leaving Zimbabwe. The group has announced it is exiting a number of operations around the world, including Zimbabwe, to cut costs.
Standard Chartered Bank, one of the country’s biggest and oldest financial institutions, has said it will close its Gweru branch next month and transfer the city’s accounts to Bulawayo.
HARARE, Sept 26 (Reuters) – Zimbabwe has rejected Standard Chartered’s ownership plan for its Zimbabwean unit because it falls below the required 51 percent local stake, state media reported on Monday.