CAPE TOWN Zimbabweans with asylum papers are struggling to open bank accounts in South Africa as most of the financial institutions give preference to people with valid work permits.
This development renders ineffective the professional qualifications that many of these people possess, and casts a dark shadow over their prospects of securing formal employment.
A snap survey by The Zimbabwean revealed that banks such as ABSA, First National Bank, Standard Bank and Capitec require foreign nationals to have valid work permits and other essential documents if they intend to open bank accounts.
It makes it very difficult for us because while we may get jobs, we cannot bank our money, said one man who declined to be named.
Those granted asylum have to renew their papers periodically at designated Home Affairs offices in order to be on the right side of the law.
Post published in: News