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Economy News

Clients protest at Steward Bank demanding cash

By Success Majaramhepo

Account holders with Econet-controlled Steward Bank yesterday held a spontaneous demonstration at the bank demanding the bank to allow clients to make cash withdrawals after the bank has gone for several months without dispensing any cash to clients.

Zimbabwean is in the middle of a liquidity crunch and many account holders have been battling to make withdrawals for the past three years and there seems to be no end to the crisis despite the central stop gap measures of trying to limit withdrawals to as low as $300 a week.

Budiriro resident Tatenda Munedzimwe told ZimSentinel they had not been given money because the bank has run out cash.

“We are not being given money. Whenever we come to collect our money they always say we don’t have cash. We need our money back, because we can’t spent six months coming here for nothing. We are tired of this bank,” he said.

Another client also said that it has been 3 years since he registered his account without being able to make a withdrawal.

“It has been three years without being given money. It is not fair. My family is starving while you are investing my money. L want my money back,” he said

Shupikai Maodza, who was leading the group condemned the bank for not giving people their money as this was affecting their lives at most due to the prevailing situation.

“You must respect us as your clients. You have to inform us when you don’t have cash than to come here for nothing. This is rubbish,” she said

They demanded to go to the Reserve bank of Zimbabwe and asked them why other banks have cash while Steward bank doesn’t.

Steward bank Manager of Customer Care Valentine told Zimsentinel that he can’t disclose information about why the bank is under the dilemma of cash crisis.

“I can’t tell you the reason why people are complaining and the bank has no cash. What l can say you have to go to the head office,” Valentine said

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Chief Editor: Earnest Mudzengi Content Editor: Willie Gwatimba