Bank workers stormed the British Embassy in Harare demonstrating against the “centralisation” of Standard Chartered Bank Zimbabwe operations in Kenya and India. The protest was organized by the Zimbabwe Banks and Allied Workers Union (ZIBAWU) which claimed the bank was effectively using local depositors’ funds to develop other economies. ZIBAWU President Farai Katsande said they wanted Zimbabwe to benefit from profits accrued by Standard Charted Bank Zimbabwe through deposits by locals to be invested in the country. “This demonstration is not targeted at the British Embassy but Standard Chartered Bank which is head quartered in London – the reason why we are here at the British Embassy,” said Katsande. “Kenya and India as hubs servicing African operations, so what they are doing is harnessing all the money they are making in African countries, including Zimbabwe. The union said it wanted the bank to review “this strategy with the involvement of all stakeholders, including unions for our common benefit.”
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