BancABC unveils P220m agriculture funding

Wednesday, April 09, 2014

Agriculture contributes a mere 2.3 percent to GDP

BancABC has entered the agriculture financing market. This week, the bank’s mother company, ABC Holdings Limited, unveiled a $25 million (P220million) financing package to shore up its lending to the agriculture sector.

Following an agreement with the Africa Agriculture and Trade Investment Fund (AATIF), lending to the agricultural sector would be increased at the bank’s operating bases - Botswana, Mozambique, Tanzania, Zambia and Zimbabwe.

According to the chief operating officer of BancABC, Francis Dzanya, the agreement with AATIF would see US$25 million made available by the Fund for lending through BancABC subsidiaries to a wide range of participants in the agricultural sector.

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