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The Ministry of Agriculture has claimed that 5,445 loans, totaling over K428 million, had been disbursed by participating banks under the Sustainable Agriculture Financing Facility (SAFF).
Ministry Principal Public Relations Officer, Balewa Zyuulu, stated that the loans reflected the crucial role of financial institutions in advancing Zambia’s agricultural development.
“The Ministry conducts the initial assessment to ensure effective implementation, but the progress seen is largely due to the collaborative efforts of participating banks,” Zyuulu stated in a statement issued on Tuesday.
He added that the financial support was empowering smallholder farmers to increase productivity and promote sustainable agricultural practices.
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As of the latest figures, he claimed that NATSAVE disbursed the largest share, facilitating 4,587 loans valued at K366.5 million.
INDO-Zambia Bank followed with 729 loans totaling K56.1 million, while ZANACO disbursed 129 loans amounting to K6.1 million.
Zyuulu commended the banks for their role in bridging the financial gap faced by farmers, urging stakeholders to note that loans are disbursed once the banks complete their due diligence and internal processes.
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