AMA to float additional $50m bills

AMA to float additional $50m bills
Published: 14 July 2016
The Agricultural Marketing Authority (AMA) has been granted authority to float an additional $50 million bills for maize purchase for the 2016 season.

Said Ministry of Agriculture, Mechanisation and Irrigation Development deputy director Mr Collen Kabudura: "AMA requested and was granted authority to float an additional $50 million bills for 2016 maize purchase."

He was speaking during the ZimAsset communication and media engagement strategy workshop this morning.

The Grain Importation Programme targets to import 1 361 452 tonnes valued at $560 million during the period February to December 2016.

The target for the period January 2017 to March 2017 is 450 000 tonnes valued at $185 million.

As at 5 July 2016, 738 389 471 tonnes had been contracted to various companies and 150 270 749 tonnes had been imported, balance remaining is 588 118 722 tonnes.

Mr Kabudura said the maize imports are mainly coming from Zambia, Mexico, South Africa and Ukraine. Meanwhile AMA is also seeking to have $12 million bond facility it floated earlier, rolled over for 180 days.

"The $12 million AMA bonds issued under BancABC facility matured on  May 17, 2016 and were settled accordingly, discussions are underway to have the same amount rolled over for 180 days guaranteed by treasury bills," said Mr Kabudura.
- bh24
Tags: AMA,


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