Stanchart leaves Zim after 130 years

A branch of Standard Chartered Bank in Harare, Zimbabwe.

Standard Chartered is closing its Zimbabwe operations after 130 years in the country. The banking group today announced that it was exiting a number of operations around the world, including Zimbabwe, to cut costs.

In a statement, the bank said it will close operations in Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe.