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Agribank offers loans to horticulture farmers

Agribank offers loans to horticulture farmers

Chronicle 12 October 2017

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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