‘Banks have right to refuse opening accounts’

FINANCE deputy minister Terrence Mukupe has said banks have the right to refuse opening accounts for new clients as they are private enterprises.


Responding to MDC-T legislator Bacilli Majaya in the National Assembly on Wednesday, Mukupe said there was no law compelling banks to open new accounts for clients.

“Banks are private enterprises and they are allowed to operate in the manner they wish even declining to open new accounts,” he said.

Mukupe said new employees who might wish to open bank accounts could do so with government-owned banks like POSB.

Asked by Binga North MP Prince Sibanda (MDC-T) if banks were not breaking the law which requires inclusivity, Mukupe said banks were already exercising inclusivity through mobile banking and swipe machines whose thrust ensures they are accessible to all people.

In an unrelated matter, Local Government minister July Moyo told the House that haulage trucks were not allowed to move in high-density suburbs.

This was after Glen Norah MP Webster Maondera (MDC-T) had asked Moyo to explain government policy regarding the movement of haulage trucks after three people, including two schoolchildren, were struck and killed by a trailer which was being towed by a cross-border bus in Glen Norah on Wednesday.

“Heavy haulage trucks can pass through certain routes, but when trucks are in residential areas it is breaking of the law because zoning does not allow it,” Moyo said.

Primary and Secondary Education minister Paul Mavima was also grilled by Chegutu West MP Dexter Nduna (Zanu PF) over government policy on ensuring that schoolchildren that fail to pay fees were not sent away.

Mavima urged parents to pay fees to ensure that the education system stayed intact.

He said orphaned children were catered for under the Basic Education Assistance Module (BEAM), adding even if BEAM failed to pay on time, they were allowed to remain in class until the fees were paid.

But, Zanu PF legislator Goodluck Kwaramba said rural children were being sent away for non-payment of fees and Grade Seven results withheld.

Mavima was then asked to issue a ministerial statement in Parliament on the issue.


  1. Rowa Primary School in Mutare is one such school that sents away school children from the very first day of the term . The headmaster sents away children for non payment of fees even in mid month when most parents have no money. Comittee members who are used to send childten away are reportedly paid $5 each time they come hence the reason for doing it on a daily basis. The education ministry should investigate this school whose grade seven results are always very poor.

  2. They should rather check the unfair practice by ECOCASH, where you can transfer money from wallet to one phone number only and you can not transfer money from ecocash to a bank account, they are not after offering service but profiteering only, i think their way of doing business should be changed

  3. Sheen, you are wrong on this one. One can transfer money from wallet to the bank account for as long as it is Ecocash linked. I advise you go to your bank and get linked to Ecocash, that is if it does.

  4. minister muri dofo dont know why u deputise that ministry

    1. Comment…can’t u see it’s a directive from MOF itself

  5. Kuwiriranakwakanakakugarakunzwanana Garanewakohamandishe

    Comment…Hezvo! Panekurudziro yekuti vanhu vaise mari kuma Bhanga here apa??????????

  6. Silly deputy minister who does not understand his functions and responsibilities to the state and to the generality of the public. Possibly looking for a hefty thank you kick back from one of the evil financial institutions. Otherwise, how are banks expected to get money for onward lending to others who want to borrow?
    No wonder they say he is corrupt.
    Our people should just learn to pay for all services, not to expect free lunches encouraged by developmentally bankrupt politicians who use populist sentiments to appeal for support from voters. If people do not pay for their schoolgoing children, then, they cannot expect the schools in question to provide good excellent facilities and educational materials. They should not cry to government.
    Majority of mp’s think they are there to champion the populist agenda at the expense of making good laws for moving the country forward and fostering discipline and responsibility among all citizens.

  7. Does he understand what is meant by inclusivity?
    They are banks who do not want to link up with mobile money service providers.
    Moreover, if one is not allowed to open an account with some bank, then how do those banks become inclusive, in the warped view of the deputy minister?

    1. Inclusivity does not EXIST in Zim banks and if the professor does not know this then we are in for a high jump!!!

Leave a Reply

Your email address will not be published. Required fields are marked *