Fraudsters target Women's Bank

Zimbabweans should be wary of fraudsters who are moving around with forged Women's Bank loan application forms and offering to process them for a fee.

There are reports that a number of people had been prejudiced of their hard earned cash by the fraudsters who are claiming to be officials from the Ministry of Women Affairs, Gender and Community Development.

In an interview recently, Ministry of Women Affairs, Gender and Community Development provincial director for Mashonaland West Mrs Miriam Kagoro said those interested in opening accounts with the Women's Bank should collect forms for free at their district offices.

"We do not have any forms on the streets. One should bring photocopies of his or her national identity card, passport size photos, and proof of residence.

"We are not collecting any fee, but we will later advice people on which system to pay through," she said.

Meanwhile, in a snap survey conducted recently, it has emerged that people living outside Harare were not aware of the Women's Bank.

Mrs Shamiso Zera from Hurungwe said: "The problem with this bank is that it is only in Harare. How can I travel there for that form when there are so many banks here?" Mr Shadreck Kariga of Zvimba said although the bank offered favourable conditions, it, however, was biased towards women.

"The bank has favourable conditions and requirements, but the truth is, it is meant for women and not for us men," he said.

The Women's Bank was issued with a licence by the Reserve Bank of Zimbabwe and was officially launched by President Mnangagwa last month. It provides financing for small scale businesses and group savings accounts. It will benefit all Zimbabweans, but it is mainly targeting women in rural areas.