Indigenisation to take over banks?

First farms, mines and now your money.  I believe that it is impossible to indigenise banks, plainly because the public’s money is kept there.

What would taking a stake of banks mean? Would it mean people will be indebted to certain individuals to run and fund their finances? Or does it mean that some clients of a given banking system would be allowed to have a stake such as the Zimplats 10-10-31 deal, with 10% workers shares, 10% for the community and 31% for the government indigenization programme, therefore ensuring that government does not impede regular operations and have ultimately a larger share.

Image courtesy of  http://www.chinadaily.com.cn/english/doc/2005-01/05/xin_350102051016742208539.jpg

Obviously one should be alarmed about this development as it brings forth a sense of déjà vu with concern over the resurfacing of cash shortages,  in recent times which have threatened to shut down banking operations in the country.  We saw a repeat of nightmarish scenes were some of the country’s major banks have threatened to shut down operations. 

Mostly foreign owned banks like Barclays Bank Zimbabwe Limited and Standard Chartered Bank Zimbabwe Limited managed to stay afloat.  And it is this same banking machinery that we need to grow our economy in the long