Barclays Bank workers ask govt to block FMB Malawi from taking over

Disgruntled workers at Barclays Bank of Zimbabwe, have joined the Barclays Bank Managers Association (BBMA) in an effort to thwart the sale of the bank to First Mutual Bank (FMB) Malawi. The managers had initially approached the High Court to block the sale, but have not decided to drop the legal challenge. Instead, they now want to petition the government to block the sale. They are approching the Zimbabwe Stock Exchange (ZSE), the Reserve Bank of Zimbabwe (RBZ), the Ministry of Finance and Economic Development and the Ministry of Indigenisation and Economic Empowerment to prevent the takeover.

Rodgers Matsikidze, lawyer for the BBMA said:

I am confirming that we are filing our objections with the Zimbabwe Stock Exchange, the Reserve Bank of Zimbabwe, the Ministry of Finance and the Ministry of Indigenisation and Economic Empowerment on Wednesday (yesterday)

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