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Banks to continue funding agric

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Banks have committed to continue providing funding towards agriculture sector while discussions over the use of 99-year leases as collateral continue. The 99-year leases have been a bone of contention between farmers and banks, with the latter holding back on advancing loans in the absence of bankable collateral. Resultantly, newly resettled farmers have struggled to access adequate funding. CBZ Holdings head of agribusiness Cordiad Munemo said that the necessary stakeholders were still negotiating over the bankability of the 99 year leases. He said banks would provide funding for viable projects, albeit the unavailability of collateral. Agribank official Divine Ngwenya said while negotiations on the bankability of the 99-year leases were still progressing, the bank would continue financing the sector. РHerald

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