News / Press Release
Empower Bank must benefit all Zimbabwean youths, not a chosen few
14 Feb 2018 at 04:59hrs | Views
Revolutionary greetings comrades. Zimbabwe is for all who live in it and as such all her citizens shall share her resources. Her resources are not for a selected few or the friends and relatives of those in power. Zanu Pf members are not the only people that must benefit from her resources. The beneficiaries must come from different walks of life and political colors.
Youth Affairs Minister Sithembiso Nyoni has defended the establishment of Empower Bank saying the institution will afford youths an opportunity to access loans without stringent requirements.
Auxilian notes that the minister further pronounced that the Treasury has made available $12 million which will be available as soon as the bank opens its doors soon. She argued that Zimbabwean youth have been marginalised by traditional banks hence their failure to successfully venture into entrepreneurship. The traditional banks have stringent rules and regulations that impede young people from accessing loans. The collateral that they ask for is beyond the reach of most young people. She concluded that the establishment of Empower Bank was in line with the National Youth Policy that advocates for the setting of youth friendly financial institution that caters for the financial needs of the youth projects as opined by Auxilia.
Whilst this is a noble project, we however, advocate for accountability and fairness. Since this is not Zanu Pf Empower Bank, we expect it to benefit youths from different political formations and tribal backgrounds.
We also expect the Bank to put in the public domain its constitution and selection criteria. Furthermore, the directors must be non-patisan or come from different political parties. This will help police the organisation from choosing the beneficiaries based on ethnicity and political orientation.
The Minister opened that the Empower Bank project is now on its second phase, namely; the upgrading of the credit only microfinance institution into a deposit-taking microfinance bank that will operate under the name of Empower Bank Limited as noted by Auxilia. What is disturbing is that the bank seems very new to a greater portion of the youth. I therefore, reiterate that such information must be made readily available to the target market. Zanu Pf must not personalise this bank and horde such crucial information. The bank must not be used as a mere Zanu Pf campaing tool or a vote buying machinery.
NPP youth welcomes the news of the establisment of the Empower Bank. We advocate for equal admissibility before the bank offices. We also submit that the beneficiaries must be taped across all political parties, civil societies, ethnic extractions and provinces. Finally, accountability and transparency must be by all means and all times ensured.
Victory is certain, alluta continua.
NPP National Youth Spokesperson
Khulani David Ndhlovu
Youth Affairs Minister Sithembiso Nyoni has defended the establishment of Empower Bank saying the institution will afford youths an opportunity to access loans without stringent requirements.
Auxilian notes that the minister further pronounced that the Treasury has made available $12 million which will be available as soon as the bank opens its doors soon. She argued that Zimbabwean youth have been marginalised by traditional banks hence their failure to successfully venture into entrepreneurship. The traditional banks have stringent rules and regulations that impede young people from accessing loans. The collateral that they ask for is beyond the reach of most young people. She concluded that the establishment of Empower Bank was in line with the National Youth Policy that advocates for the setting of youth friendly financial institution that caters for the financial needs of the youth projects as opined by Auxilia.
Whilst this is a noble project, we however, advocate for accountability and fairness. Since this is not Zanu Pf Empower Bank, we expect it to benefit youths from different political formations and tribal backgrounds.
We also expect the Bank to put in the public domain its constitution and selection criteria. Furthermore, the directors must be non-patisan or come from different political parties. This will help police the organisation from choosing the beneficiaries based on ethnicity and political orientation.
The Minister opened that the Empower Bank project is now on its second phase, namely; the upgrading of the credit only microfinance institution into a deposit-taking microfinance bank that will operate under the name of Empower Bank Limited as noted by Auxilia. What is disturbing is that the bank seems very new to a greater portion of the youth. I therefore, reiterate that such information must be made readily available to the target market. Zanu Pf must not personalise this bank and horde such crucial information. The bank must not be used as a mere Zanu Pf campaing tool or a vote buying machinery.
NPP youth welcomes the news of the establisment of the Empower Bank. We advocate for equal admissibility before the bank offices. We also submit that the beneficiaries must be taped across all political parties, civil societies, ethnic extractions and provinces. Finally, accountability and transparency must be by all means and all times ensured.
Victory is certain, alluta continua.
NPP National Youth Spokesperson
Khulani David Ndhlovu
Source - Khulani David Ndhlovu
