PROPHETIC Delivance and Healing
Ministries leader Walter Magaya has advised his followers to open bank accounts
with MetBank, in a move which could see the financial institution rake in
millions of dollars in initial deposits.
Magaya told his congregation that
he had sealed a deal with the bank where they could access loans and invest the
money in various projects he undertakes under a profit making venture called
Yadah Connect.
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| Image Source: Online |
Although it is unclear how many
people would heed the instruction and approach MetBank, Prophetic Healing and
Deliverance Ministries is believed to have thousands of loyal followers who
could create a deposit boon for MetBank.
The cleric’s announcement saw
MetBank’s banking hall in Bulawayo flooded with prospective account holders,
most of who were however turned away because they had not carried with them all
requirements to open accounts.
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| Image Source: Online |
In addition to proof of
residence, identity documents and passport size photographs, the bank also
charged $15 which came as a surprise to many who thought the instruction from Magaya
was that the agreement covered all expenses.
“Only ministry employees can open
an account without depositing any money because PHD has already negotiated on
their behalf,” said a bank employee.
The branch staff was also unable
to provide more details as to how the loan scheme would work indicating that their
abilities were still limited to general account opening.
Magaya’s partnership with MetBank
comes at a time the bank is recovering from viability challenges predominantly
caused by a national liquidity crunch. This saw the bank listed as a distressed
loss making institution, only returning to profitability in 2016.
The locally owned financial
institution was recently appointed financial advisor on an 8 million dollar
deal, to refurbish the country’s granaries, by the Grain Millers Association.
MetBank also successfully arranged a 20 million dollar facility to capacitate
Windmill Fertiliser Company and finance commodity imports for the 2016/2017
agricultural season. – Sociey 24
