Barclays spends K600m in supporting farmers

Mon, 22 May 2017 13:14:27 +0000

By ROGERS KALERO

BARCLAYS Bank Zambia Plc has given out more than K600 million in terms of loans to farmers for various agricultural purposes, Bank Head of Marketing and Corporate Relations Mato Shimabale has said.

Mr Shimabale said Barclays Bank Zambia would continue to support government’s efforts of reviving the agriculture sector and diversifying the country’s economy by giving loans to farmers and supporting entrepreneurship.

The Barclays Bank Zambia Plc Head of Marketing and Corporate Relations was speaking in an interview in Kitwe on Saturday during the Kitwe Airshow where farmers from various parts of the country were demonstrating how they use their planes for various agricultural purposes.

Mr Shimabale said the bank had spent more than K33, 000 on organising the Kitwe Airshow so that farmers could demonstrate how they use the planes for agricultural related activities.

“As a bank, we will strive to support the agriculture sector because even Government is emphasising on reviving and promoting agriculture sector. So far, the bank has spent more than K600 million in terms of loans to farmers for various agricultural purposes.

“Even today, here at the Kitwe Airshow, we have spent more than K33, 000 on organising the Kitwe Airshow so that farmers could demonstrate how they use the planes for agricultural related activities,” Mr Shimabale said.

Mr Shimabale said, apart from giving out loans to farmers, the bank has a dedicated team of agricultural experts dealing with the agriculture sector.

“In the same agriculture sector, we have the Commercial Asset Financing. Some farmers do not have equipment and so we lease equipment. We believe a combination of giving out loans to farmers and leasing out equipment can help farmers to make a huge step towards increasing their production,” Mr Shimabale said.