Gono warns government against ‘firing harmful, verbal economic gunpowder’

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The governor of the Reserve Bank of Zimbabwe, Gideon Gono, has stepped in to reassure foreign investors after large companies were warned about impending nationalisation.

Under the country's controversial empowerment laws, 51% of foreign businesses must be held by black Zimbabweans. Government minister Saviour Kusakawere last week sent a notice to 13 firms, including Barclays bank, which asked the companies to reveal their plans on how they intended to transfer majority stakes to local owners.

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