2 000 register with Women’s Bank

Fortunate Gora Mashonaland West Correspondent
MORE than 2 000 people in Mashonaland West Province have opened accounts with the Women’s Microfinance Bank, with civil servants constituting the bulk of the bank’s clients. In an interview recently, Ministry of Women’s Affairs, Community, Small and Medium Enterprises Development provincial director Mrs Miriam Kagoro said 1 561 women from the province had registered with the women’s bank by December last year.

Another 500 had also registered since the beginning of the year.

She said many women who registered as groups expressed displeasure that the bank offered salary-based loans, disadvantaging the unemployed.

“This year we have not yet compiled our information, but we have more than 500 people who have registered so far,” said Mrs Kagoro. “In December last year we had 1 561 people.

“But we are facing challenges that many people are not understanding that we are not the bank and are complaining that we are neglecting their cooperatives or groups, yet we are not responsible for authorising that.”

Mrs Kagoro warned women to be wary of fraudsters moving around with forged Women’s Microfinance Bank loan application forms offering to process them for a fee.

She said those interested in opening bank accounts should collect forms for free at the ministry’s district offices.

“We do not collect any fee from people,” said Mrs Kagoro.

“One should only bring photocopies of the national identity card, passport size photos and proof of residence.

“As for payment, we advise applicants on which system to use.”

Makonde Ward 13 Councillor Mrs Martha Paul took a swipe at the ministry officials for facilitating the processing of a huge loan for a single family.

“Just imagine one family getting more $21 000 and women in my ward are not benefiting at all because this family has not started paying up the loan,” Mrs Paul told a recent stakeholder meeting. “I think the officials should be fair to all intended beneficiaries.”

Government officials who attended the meeting said they were not aware of the matter, insisting that the ministry was not responsible for authorising the loans.

President Mnangagwa officially launched the Women’s Microfinance Bank in June last year to enhance women’s empowerment programmes across Zimbabwe.