FRA owes Zambian farmers K600m

The Food Reserve Agency (FRA) owes K600 million to farmers who supplied it with maize during this year’s marketing season, said FRA executive director, Chola Kafwabulula. Kafwabulula said the agency has already paid out K103 million and expects treasury to pay the balance soon. FRA exceeded its target of 500…

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FRA in financial crisis

Zambia’s state-owned grain buying company, the Food Reserve Agency (FRA) is facing a financial crisis. This created concerns about its readiness for the marketing season which opens on June 1. Executive Director Chola Kafwabulula told a Parliamentary Committee on Estimates the cash shortage is hampering operations. “We need additional funding…

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SA’s junk credit status mixed bag for South African farmers

South Africa’s credit downgrade by the American credit rating agency, Standard and Poor’s (S&P) to BBB-, otherwise known as junk status, is potentially bad news for South African farmers, but there is a silver lining for exporters. According to Wessel Lemmer, senior economist at Absa Agribusiness, the sovereign downgrade by…

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African countries to feel effect of SA credit downgrade

The ripple effect of the South African credit downgrade by the American credit agency, Standard and Poor’s (S&P) to below-investors grade or junk status, is to impact African countries and their agricultural sectors. According to Wessel Lemmer, senior economist at Absa Agribusiness, the sovereign downgrade by international credit agencies will…

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