HARARE (Bloomberg) Zimbabwean banks have closed about 17% of their branches as an escalation in the number of coronavirus infections spurs lenders to shut their doors for the time being and accelerate a digitization drive.
Of the 300 branches in the country, 10% were permanently closed last year due to the digitization push. An additional 23 branches are now temporarily under lock and key in response to a strict 30-day lockdown that started on Jan. 5, the Zimbabwe Bankers’ Allied Workers Union said.
“There is a high possibility that some may never be re-opened in the foreseeable future,” Shepherd Ngandu, the assistant secretary-general of the union, said by text message.
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Zimbabwean banks have closed about 17% of their branches as an escalation in the number of coronavirus infections spurs lenders to shut their doors for the time being and accelerate a digitisation drive.
Of the 300 branches in the country, 10% were permanently closed last year due to the digitisation push. An additional 23 branches are now temporarily under lock and key in response to a strict 30-day lockdown that started on January 5, the Zimbabwe Bankersâ Allied Workers Union said.
âThere is a high possibility that some may never be re-opened in the foreseeable future,â Shepherd Ngandu, the assistant secretary-general of the union, said by text message.