Richard Tsvangirai Jnr, a Norton legislator, has fired a salvo in Parliament, condemning the “exploitative” banking practices that are draining the wallets of Zimbabweans. Bank fees have become a national pastime, and it’s time someone called out the banks.
Tsvangirai is set to move a motion today, urging the Ministry of Finance to put an end to the practice of charging customers for checking their account balances. “Unnecessarily excessive, exploitative, and placing an undue burden” – these are just a few of the choice words he’s using to describe these fees.
The legislator argues that these charges undermine efforts to boost financial inclusion and erode public trust in the banking sector. In most countries, checking your account balance is a basic right, not a luxury. Why should Zimbabweans be any different?
Tsvangirai’s motion is a call to arms – or rather, a call to action – for the Ministry of Finance to step in and regulate these fees. It’s time for the government to protect its citizens from predatory banking practices and ensure that financial services are accessible and affordable for all.
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