Zambian banks back financing from grain warehousing

Stanbic and First National Bank (FNB) have started providing financing against warehouse receipts for grains deposited with the Zambia Agriculture Commodity Exchange (ZAMACE). According to the banks, receipts against deposited grains will also act as collateral to be redeemed for cash. ZAMACE operates an agricultural commodity exchange, supported by a…

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Emerging farmers: South African banks more supportive

The Land Bank will now take respected mentors into consideration when deciding whether to fund emerging farmers. During the African Farmer’s Association of South Africa (Afasa) annual congress in Johannesburg, Portia Zulu, provincial manager of Land Bank, said emerging farmers must overcome different challenges. Zulu was part of a panel…

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Zambian banks pilot livestock collateral

The Bankers Association of Zambia (BAZ) says commercial Zambian banks have started piloting the use of livestock as collateral. Many Zambians welcomed the move, saying it is hard to meet collateral demands set by banks. According to BAZ, the pilot programme is conducted in collaboration with the Dairy Association of…

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