Published: 08 January 2018

Agribank, the country's premier agriculture finance institution, has mobilised over US$100 million to fund the 2017-18 summer cropping season, which in some cases can be obtained without collateral.

This comes as Government which owns Agribank wholly last year directed the financial institution to focus on its core mandate of financing agriculture.

The absence of affordable funding on the market has been the major drawback to increased agriculture output since the turn of the millennium.

When agriculture funds were available, punitive security was slapped, making it impossible for the bulk of farmers who obtained land under the agrarian reforms since year 2000 to access such money.

Crucially, Government and bankers have agreed on the bankability of 99-year leases, further making funds easily available to farmers that have no collateral.
- The Sunday Mail

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