Women Em­pow­er­ment Bank ready to roll

Chronicle (Zimbabwe) - - National News/worldwide - Harare Bureau

THE set­ting up of Women Em­pow­er­ment Bank is at an ad­vanced stage with the bank’s chief ex­ec­u­tive of­fi­cer al­ready ap­pointed to kick start the fi­nan­cial in­sti­tu­tion’s op­er­a­tions be­fore year-end.

The bank CEO who is part of the nine mem­ber com­mit­tee, is al­ready smoothen­ing some rough edges to open the bank.

This comes af­ter the Re­serve Bank of Zim­babwe (RBZ) set aside $15 mil­lion for the re­volv­ing Women’s Em­pow­er­ment Fund, which sup­ports projects owned and man­aged by women. The fund at­tracts an “all-in­clu­sive” in­ter­est rate of 10 per­cent.

Women Af­fairs, Gen­der and Com­mu­nity De­vel­op­ment Min­is­ter Nyasha Chik­winya, told our cor­re­spon­dent that the bank is ex­pected to of­fi­cially start op­er­a­tions be­fore the end of 2017.

“Al­most ev­ery as­pect is in place to roll out Women Em­pow­er­ment Bank and a nine mem­ber com­mit­tee, which in­cludes the CEO has al­ready started op­er­a­tions of the bank. What’s left is for some In­for­ma­tion and Com­mu­ni­ca­tion Tech­nol­ogy con­nec­tions to be set up so that the bank will dig­i­talise its ser­vices to mod­ern trends, while bring­ing con­ve­nience to its clients across Zim­babwe. We are putting in self-ser­vice cen­tres to in­crease our con­ve­nience to fe­male cus­tomers. Cus­tomers can come in, do all the trans­ac­tions they want to do in this bank,” said Min­is­ter Chik­winya.

The Fund, whose op­er­a­tional modal­i­ties are cur­rently be­ing fi­nalised, will be made avail­able for on-lend­ing through the new bank.

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