Former President Robert Mugabe's daughter, Bona, is set to be kicked out of the board of the Empowerment Bank. Women's Affiars Min...
Former President Robert Mugabe's daughter, Bona, is set to be kicked out of the board of the Empowerment Bank.Women's Affiars Minister, Sithembiso Nyoni says the new bank's board will be re-examined. She also revealed that the bank was launched by Grace Mugabe without an operating licence.
Board members are Mr Raymond Njanike (chair), Dr Judith Kateera, Mr William Chaitezvi, Mr Wilson Gwatiringa, Mrs Bona Mugabe-Chikore, Mr Wellington Zengeza, Ms Helena Kumirai and Mrs Josephine Chikaka.
“Empower Bank, when I looked at it, was not really ready for launch. I (discovered) that it was not registered with the Reserve Bank of Zimbabwe. You can’t launch an unregistered bank. I think they launched anticipating approval would be swift. But (the bank was launched) without registration; that’s all I’m saying. So, we can’t really call it a bank. Banks have to be approved by the RBZ and then get a banking certificate.
“Empower Bank still has a lot to do; that’s why we haven’t included it in our 100-day plan. The bank will be launched and start operating as soon as relevant processes are taken care of, for instance, making sure the board is balanced and complying with banking regulations.
“Regarding the board; we are yet to look at their CVs as read against the mandate of the bank. If the board members meet all criteria, they will continue as they are.”
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