Namibia rejects Absa bid

NAMIBIA'S central bank on Friday blocked a bid by South Africa's Absa to gain control of the country's biggest bank, Capricorn Investment holdings.

NAMIBIA'S central bank on Friday blocked a bid by South Africa's Absa to gain control of the country's biggest bank, Capricorn Investment holdings.

It cited concern about foreign dominance of its financial industry as the reason for its decision.

Capricorn owns 72percent of Bank Windhoek, that country's largest bank and the only one controlled by locals.

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