RBZ Women’s Bank Yet to Operationalise

RBZ Women's Bank Still Yet To Operationalise

A bank project by the Reserve Bank of Zimbabwe (RBZ) aimed at supporting women in business is yet to eventuate despite indications of opening two months ago.

RBZ Deputy Director Supervision, Norah Mukura said that the women’s bank will be opening later without giving the specific time of the opening.

Mukura was speaking to women in the business sphere in Harare today.

“The bank has been licensed,” said Mukura, “but before it opens the doors to the public we have to make sure that all the infrastructures needed are in place before we start operating.”

The bank, called Zimbabwe Women’s Micro Finance Bank Limited (ZWMB) is meant to empower women economically and socially.

Women Affairs Minister, Sithembiso Nyoni had indicated in January that the bank will open in February this year.

Nyoni had said in January that all is set for the opening of the micro-finance bank in the few weeks after the RBZ has done a pre-opening visit.

“The information and communication technology issues are now intact and the staff is already in place. We are working flat out to ensure that we are within schedule,” Nyoni is quoted in a local newspaper.

“The board has already been appointed and all the workers are on the ground, ready to start.”

Zimbabwe’s government allocated US$10 million to the capitalisation of the bank in the 2018 budget.

The bank, if opened will also use the government-owned POSB branches some of which are located in the rural areas.

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