Agrib­ank of­fers loans to hor­ti­cul­ture farmers

Chronicle (Zimbabwe) - - Business Chronicle - Kiyapili Sibanda Busi­ness Re­porter

THE Agri­cul­tural Bank of Zim­babwe (Agrib­ank) has called on hor­ti­cul­ture farmers in Mata­bele­land to apply for loans of­fered by the bank to boost their pro­duc­tion.

The bank re­cently un­veiled a $10 mil­lion fa­cil­ity to sup­port hor­ti­cul­ture farmers across the coun­try.

Speak­ing on the side­lines of a ZimTrade ex­port aware­ness sem­i­nar in Bu­l­awayo on Tues­day, Agrib­ank pro­vin­cial man­ager for Bu­l­awayo and Mata­bele­land North, Ms Scholas­tica Mad­hibha, said few farmers had ap­plied for loans in Bu­l­awayo and Mata­bele­land North prov­ince.

She told Busi­ness Chron­i­cle that since June this year, only three farmers had ap­plied for loans from the two prov­inces.

“We want to urge farmers to take ad­van­tage of this fa­cil­ity to fund their hor­ti­cul­ture projects,” said Ms Mad­hibha.

Ac­cord­ing to the bank, the fa­cil­ity at­tracts a 10 per­cent in­ter­est per an­num with a tenor of up to 12 months for work­ing cap­i­tal and three years for cap­i­tal ex­pen­di­ture.

In Au­gust, Agrib­ank part­nered with FBC Bank seek­ing to raise $20 mil­lion to sup­port the 2017/18 crop­ping sea­son through the is­suance of agro bills. — @Kiyaz_Cool

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