Zambia National Commercial Bank Director corporate banking Ignatius Mwanza says his bank will give emerging farmers in the country loans for them to purchase farming equipment’s.
Mr. Mwanza said for the long time most of emerging and small scale farmers had no access to bank loans which have contributed to poor yield in the country.
ZANACO Director Corporate banking was speaking yesterday during the signing ceremony at Lusaka South Country Club where three other Companies formed an alliance aimed at providing innovation solutions to emerging farmers.
Mr. Mwanza said the bank will ensure that all emerging farmers across the country have access to financial services to enable them buy farming machinery.
He added that the Bank will offer loans at low interest so that farmers can buy land of their own and late graduate to commercial farming.
Meanwhile Mr. Mwanza has urged ZNFU to train the farmers with agriculture skills and to understand the importance of sustainable agriculture and food security in the country.
The three companies formed an alliance are ZANACO, Zambia National Farmers Union (ZNFU) and John Deere Financial company.