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Government has announced that the Agriculture Credit Window under the Sustainable Agriculture Financing (SAF) programme is now operational.
Ministry of Agriculture Permanent Secretary, Green Mbozi, stated that this followed the signing of an agreement between government and ABSA Bank.
Mbozi announced this during the signing of the agreement between the Ministry and ABSA Bank in Lusaka on Monday.
He said the main objective of the initiative was to enhance production and productivity of maize to 10 million metric tonnes and one million metric tonnes of wheat by 2027.
“The Agreement demonstrates a collective commitments to uplifting our small medium farmers and advancing the Agriculture sector,” Mbozi stated.
He emphasized that the partnership signified a pivotal step towards ensuring that the vital contributors to the economy recieved the necessary support and resources to thrive.
Mbozi stated that small and medium scale farmers formed the backbone of the Agriculture landscape, toiling tirelessly to feed the nation and beyond.
“With this joint effort, we aim to bridge the financing gap, empowering our farmers with the financial tools that will enable them to enhance productivity, adopt modern techniques and ultimately improve their livelihoods,” he said.
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He added that the agreement entered into with ABSA Bank symbolized the joint commitment to fostering sustainable agriculture practices and ensuring inclusive growth in the communities.
In a speech read on her behalf by Director for Business Banking, Bruce Jani, ABSA Bank Zambia Managing Director Mizinga Melu, highlighted that under the agreement, the bank would play a pivotal role in facilitating finance for small scale farmers.
Melu said farmers would obtain agricultural inputs, thereby contributing to the growth and sustainability of the agricultural sector.
“The strategic partnership underscores the banks commitment to supporting the government’s initiatives for agricultural development and Rural empowerment,” she stated.
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