News / National
Empower Bank to open branch in Bulawayo
12 Dec 2018 at 05:24hrs | Views
EMPOWER Bank has secured office space and recruited personnel in Bulawayo in readiness for the opening of the branch on a date to be advised.
The new offices are at the Exchange Building situated at corner Joshua Mqabuko Nkomo Avenue and Leopold Takawira Street. Executives from Empower Bank in September met potential depositors in Bulawayo, where they promised the public that the new facility would be opened before year end.
Head of marketing at the new city branch office, Mrs Christina Muchikidza, said they have successfully set up base and what was left was to open the facility once all conditions were met.
"As promised we are hoping to open Empower Bank to the public very soon. So far the physical structure is now in place but a few things need to be attended to," she said. "As soon as the nitty-gritty is finalised, we will be opening the bank's doors to the public, hopefully, before year end or early next year."
The bank was officially launched by President Emmerson Mnangagwa as a way of empowering marginalised youths who fail to get capital injection for their projects. Mrs Muchikidza said their desire was to reach out to the youth countrywide. It is in this spirit that the bank intends to open a branch here in Bulawayo, she said. At the moment the bank has a single branch in Harare.
Empower Bank offers personal loans for day-to-day needs as well as asset loans whose interest rates range between four and five percent. It is capitalised to the tune of $2,5 million and targets more than 40 000 youths. The bank has 70 percent of the fund for youths while 30 percent was set aside for any other business people.
The new offices are at the Exchange Building situated at corner Joshua Mqabuko Nkomo Avenue and Leopold Takawira Street. Executives from Empower Bank in September met potential depositors in Bulawayo, where they promised the public that the new facility would be opened before year end.
Head of marketing at the new city branch office, Mrs Christina Muchikidza, said they have successfully set up base and what was left was to open the facility once all conditions were met.
"As promised we are hoping to open Empower Bank to the public very soon. So far the physical structure is now in place but a few things need to be attended to," she said. "As soon as the nitty-gritty is finalised, we will be opening the bank's doors to the public, hopefully, before year end or early next year."
The bank was officially launched by President Emmerson Mnangagwa as a way of empowering marginalised youths who fail to get capital injection for their projects. Mrs Muchikidza said their desire was to reach out to the youth countrywide. It is in this spirit that the bank intends to open a branch here in Bulawayo, she said. At the moment the bank has a single branch in Harare.
Empower Bank offers personal loans for day-to-day needs as well as asset loans whose interest rates range between four and five percent. It is capitalised to the tune of $2,5 million and targets more than 40 000 youths. The bank has 70 percent of the fund for youths while 30 percent was set aside for any other business people.
Source - chronicle
