Failed bank managing director to head Govt's Empower Bank

Raymond Njanike who was managing director for failed bank Interfin Bank Limited has been appointed Empower Bank board chairperson. Njanike successfully secured a micro-finance licence for the financial institution.

Government through Ministry of Youth, Indigenisation and Economic Empowerment capitalised the micro-finance institution to the tune of $2,5 million. About 39 385 youths are expected to access loans from the bank. Njanike was also managing director for the now defunct Trust Holdings Limited’s Trust Discount House Limited.

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