Maravi

ZNCB disburses K4bn to peasant farmers

ZNCB disburses K4bn to peasant farmers
By Joan Chirwa
Monday May 19, 2008 [04:00]

ZAMBIA National Commercial Bank (ZNCB) last farming season disbursed a total of K4 billion to peasant and small-scale farmers in the country through the new Munda Credit Scheme. During the launch of the new Munda Credit Scheme commodity prices for the 2008/2009 marketing season in Lusaka last Thursday, ZNCB senior manager for credit, Cliff Ndhlovu, said the bank would continue to provide cheaper financing for the agriculture sector, based on the farmers’ repayment record.

“The farmers should endeavor to pay back loans for us to continue to lend to the sector,” said Ndhlovu.

And National Association for Peasant and Small-Scale Farmers of Zambia (NAPSSFZ) announced commodity prices for this marketing season, pegging a 50 kilogramme bag of grade A maize at K42,000.

This is the first time in Zambia’s history that a private entity has set up an agricultural commodity price for about 20,000 peasant and small-scale farmers in the country, who are members of the credit scheme set up almost two years ago.

The maize price announced under the new Munda Credit Scheme, is slightly higher than last year’s FRA floor price of K38,000 per 50 kilogramme bag.

Soya bean prices have been pegged at K90,000 per 50 kilogramme bag; K40,000 and K90,000 for a 50 kilogramme of sunflower and polished rice respectively.

NAPSSFZ president Rodgers Phiri said small-scale farmers in Zambia could double food production with enhanced financing to the agriculture sector.

“It is now technically possible for Zambia to double or even treble food production in Zambia under the new Munda Credit Scheme of ZNCB. More jobs in the agriculture sector can be created through the revitalisation of the agriculture credit systems in Zambia,” said Phiri.

And NAPSSFZ’s major buyer ZDENAKIE Limited managing director George Liacopoulos said the company and the association agreed on a cost reflective price, which would give farmers a fair return on their investment.

The government is in the process of announcing commodity prices for the 2008/2009 marketing season as consultations are still being held among stakeholders.

Labels: FARMERS, NAPSSFZ, ZNCB

posted by MrK @ 5:41 AM