The newly formed Empower Bank has disbursed fewer loans than it can due to lack of applications from youths for the loans. The bank says it disbursed 600 loans instead of a targeted 40,000.
Principal Director in the Ministry of Youth, Sport, Arts and Recreation, Dr. Benson Dube said:
In 2018, the Government established a youth-focused financial institution Empower Bank in order to enable lending and financial support to youth businesses and projects. To-date, Empower Bank has distributed more than 600 loans for youth businesses and projects across the country and the money is still in abundance for more youths to apply such loans. The money is for you our youths, come and get it. Don’t shy away it is your money