Sundaymail Editor
Online
A local bank has started training and disbursing loans to deserving beneficiaries in Caledonia, in a development expected to enhance and improve their livelihoods.
Caledonia is an informal settlement about 17 kilometres east of Harare.
The youth-focussed Empower Bank, which was officially launched by President Mnangagwa on July 5, 2018, plans to disburse $260 million to youths countrywide by year-end.
Asan Kaunda, who is coordinating the youth projects in Caledonia, said more than 20 000 youths are set to benefit.
“We had the first batch in which 50 youths benefitted. Recently we had a team from the bank who came here, trained, assessed and evaluated some of the project proposals. We are hoping that any time, some of the youths will be given the loans,” Kaunda said.
Empower Bank is a micro-banking unit created to specifically support different youth initiatives.
Online Reporter