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AfrAsia Bank Limited Zimbabwe’s Bulawayo branch

Charity Ruzvidzo Business Reporter
SCORES of depositors yesterday spent the day in queues at AfrAsia Bank Limited Zimbabwe’s Bulawayo branch as they failed to withdraw their cash with the bank limiting withdrawals to a maximum of $100.
Business Chronicle visited the formerly Kingdom Bank in the city centre at around 3PM, which was swarmed with disconsolate depositors who said they had been in the queue since morning.

“I have been in the queue for many hours, they are only giving us $100, they say the bank has no money,” said Sharon Derera, a client.
Another client who preferred anonymity said: “For a bank to fully function there is a need to communicate with its clients and alert them on any developments taking place because technically we are partners. But they are not opening up on the reasons why they give us less money.”

Another client, Thandeka Buhali, said the bank’s ATMs and Zim-Switch were not functional.
“The ATMs and Zim-Switch are not giving any money, so we opted to come directly to the tellers only to be told we can only get $100. The worst part is that there are a few tellers to serve all these people,” said Buhali.

Some depositors told Chronicle Business that those who wanted to withdraw $1,000 and above were made to book.
“I wanted to withdraw $5,000 and am told there is no money and that those who want higher amounts should book for those withdrawals at a date known to the bank,” fumed the depositor.

Bank officials declined to comment and referred questions to head office in Harare.
A Harare official requested questions in writing but acknowledged the problem.

“I am aware of what is happening but I cannot comment. Just put your questions in writing to the public relations department,” said the official.