Irate depositors besiege AfrAsia Bank Bulawayo branch - Video

There were bouts of violence at the embattled AfrAsia Bank Limited, formerly Kingdom Bank in Bulawayo as angry depositors stormed the banking hall demanding their cash.

AfrAsia, which rebranded from Kingdom Bank following a 62,5% share takeover by AfrAsia Bank Mauritius, has been facing operational challenges and is failing to give its clients their deposits.

According to the bank officials, AfrAsia allows a maximum withdrawal of $50 a day while at some times they run out of cash.



By the time Radio Dialogue news crew visited the bank, depositors had broken the entrance door and stormed inside the bank while security officials were struggling to contain them.

Moments later police details were called in and restored order, allowing the bank officials to repair the broken glass door.

"We are not going to back off, we want our money and unless that happens we will be here," said one Kingdom client, Mufaro Dube.

He said he has lost all faith in this bank and intends to move to another bank soon as he gets his cash.

"This bank is making our lives hell, we cant afford to pay our bills and other utilities on time because we get $50 a day, I can't do everything with it," said Dube.

He said at some point he was forced to ask for an off day so that I can queue to withdraw part of his salary.

"It is like we are the ones who owe the bank, yet it is vise versa. The bank management should do something and give our monies as soon as possible," said Dube.

Another client, Chipo Moyo said she has been trying to withdraw her salary for the past week.

"This bank has brought me more troubles than joy, As soon as I get the money I will change banks and have even wrote to my employers that they should transfer my salary into a different bank account," said Moyo.

The depositors also said their situation was compounded by that they can not use ZimSwitch at any cash point, as their cards are now being declined.

"It would have been better if we could use ZimSwitch, but all the cash points now decline any transaction if you have a Kingdom card," said Jonathan Phiri also a client.

Officials at AfrAsia declined a comment saying they have to be cleared by their Harare superiors to be able to talk to the media.