Women’s Bank opens soon

Livingstone Marufu
The Women’s Bank is expected to open soon, amid indications the Reserve Bank of Zimbabwe is working on final paperwork to licence the institution.

At least $10 million has been extended to the bank by Government as start up capital.

Women and Youth Affairs Minister Sithembiso Nyoni recently told the Senate that, “As for the Women’s Bank, we now have a committee, a board, a chief executive officer and everything is now in place.

“What is outstanding is approval from the Reserve Bank of Zimbabwe for the bank to open.

“We believe that by end of April, the Reserve Bank will have done its part then we will open the bank.

“We did not want to advertise it before opening but the truth is that women should know that the bank is in place and going to open this month.”

Minister Nyoni said infrastructure for the bank was in place, and it would also make use of facilities belonging to the People’s Own Savings Bank (POSB) to boost access to women in rural areas.

Minister Nyoni said the bank would give women business loans.