ARTUZ Delegation met Reserve Bank Governor

A delegation of ARTUZ leadership led by SG Robson Chere met with Reserve Bank Governor this afternoon at his offices in Samora Machel Harare.
ARTUZ had requested for a meeting with the Governor on Teachers Economic Wellbeing.

Meeting Agenda

  1. A discussion on the current economic situation in the country and how it is affecting our members.
  2. Increase of Withdrawal Limits in banks that is affecting our members mainly living and working in rural areas.
  3. Discussion on entrepreneurship training and funding for teachers.

Meeting Outcome

  1. Review of withdrawal limits after consultation with Ministry of Education and banks to check how many teachers are in the rural areas and how they can be distinguished from urban teachers. The bank will set a figure of $1000 RTGS that can be withdrawn at once by a rural teacher. The figure would be revised based on availability of paper money.
  2. Governor to investigate banks that can issue cash withdrawal service at centres in rural areas to minimise cost of teachers travelling to far away towns to withdraw little salaries. This system is used by some banks that take cash to uniformed forces barracks during pay days for withdrawal.
  3. Governor said the Reserve Bank need to empower teachers using Homelink loans. He took pity at the rural teachers rural retention allowance of $20RTGS per month. He said he will communicate with Homelink and ARTUZ members can receive individual funding for projects. For the commencement he indicated he was looking at 100 rural teachers to benefit.
  4. The Governor said the nation needs production to thrive. Only 40% of Zimbabwean population is formally employed and the rest is in informal sector that is not governed by the country’s finance system. The country is also a heavy importer not taking into account it is well resourced in dams for example, said Dr Mangudya.
  5. However, Mangudya appreciated ARTUZ leadership for approaching him seeking to understand the economic system and how it can benefit teachers in rural areas mainly in areas of entrepreneurship.

Source: Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ)

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