The Reserve Bank of Zimbabwe has approved the youth empowerment bank’s board to oversee the setting up of the bank.

The setting up of the bank is already taking shape as the Ministry of Youth, Indigenisation and Economic Empowerment has secured offices for the bank to operate from.

The Empowerbank is a youth-aligned financial services institution tailor-made to support innovative and enterprising youths who have been facing challenges and lack of adequate support from the traditional banking sector.

The bank has already received seed money of US$2.5 million from government and latest indications are the RBZ has already approved the board to oversee the operationalisation process of the youth bank.

Youth, Indigenisation and Economic Empowerment Minister Cde Patrick Zhuwao applauded the Ministry of Finance and Economic Development for committing an additional US$10 million to enable a smooth take off of the Empowerbank.

The Empowerbank chaired by Mr Raymond Njanike comprises of Dr Judith Kateera, Mr William Chaitezvi, Mr Wilson Gwatiringa, Mr Wellington Zengeza, Ms Helena Kumirai,  Mrs Josephine Chikaka, Mrs Bona Chikore.