BancABC cautious on Zimbabwe

ABC Holdings, majority shareholder in sub Saharan banking operations BankABC, says it has adopted a cautious approach in Zimbabwe until a new government clarifies the indigenisation policy thrust.

"Everyone in the industry has adopted a wait-and-see attitude with the new government.

"It is clear from the Zanu-PF manifesto that for them indigenisation is the way forward, so we ask that they make their policies clear," said Doug Munatsi, ABC Holdings CEO.

Munatsi expressed optimism on the continued use of the multi-currency system saying this would ensure sustainable growth on businesses going forward.