Mhangura residents cry foul over CBZ closure

MHANGURA residents who bank with the Commercial Bank of Zimbabwe (CBZ) have expressed disappointment with the bank’s decision to close its Mhangura branch at the end of this year.

Most of the bank’s clients are farmers.

They argue that the closure of the bank would affect their farming business as they will be forced to use Chinhoyi branch, which is 70km away.

The bank’s Chinhoyi branch is overwhelmed as it services clients in most parts of Makonde and Zvimba districts.

One farmer, Mr Frank Shumbayaonda, said the closure will have a negative impact on the farming community.

“CBZ is the only bank we have around here and has been servicing many farmers for years. If it is true that it is closing it is really a big blow to us as we will be required to travel all the way to Chinhoyi to access services like loan applications,” Mr Shumbayaonda said.

Civil servants in the area also expressed their worry saying the closure would affect service deliveries in their respective professions.

One schoolteacher, Ms Anotinzwaishe Sibanda, said civil servants would also spend time in Chinhoyi sorting issues related to their banking needs and that will affect their service deliveries.

“A lot of civil servants will be on and off their duties due to bank related issues that they will only be able to get in Chinhoyi,” she said.

The retail business community said the closure would result in robberies and thefts as they will be forced to hold on to their money and or travel to Chinhoyi for deposits.

The closure has so far been confirmed by some branch officials who are not yet sure where they will be relocated to next.

“Yes, it is true the branch is closing down on the 31st of December and we were told that the staff will be relocated to other branches,” said a staff member, who requested anonymity said.

Efforts to get comment from the CBZ Holdings Group’s marketing and corporate affairs executive, Ms Laura Gwatiringa, were futile.