Zanaco gives K70m loan to agro scheme
Published On October 15, 2014 » 2565 Views» By Administrator Times » Business, Stories
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ZANACO LogoBy KENNEDY MUPESENI? –

ZANACO disbursed more than K70 million to small and emergent farmers under the Lima Credit Scheme during 2013/2014 farming season.
And Agriculture and Livestock Minister Wylbur Simuusa has called for private sector participation in the crop marketing.
Speaking at the Zambia National Farmers Union (ZNFU) Gala Night on Tuesday, Zanaco acting managing director Ignatius Mwanza said the Lima Credit Scheme has continued attracting farmers.
“The Lima Credit Scheme is one we are extremely proud of due to its continued success over the years. The number of farmers on the scheme has increased from 600 farmers in the 2008/2009 season to 16,780 in the 2013/1014 season,” Mr Mwanza said.
During the same period, the financial exposure increased from K309,000 to K70 million.
Mr Mwanza said Zanaco was currently running a tractor-financing scheme which targets smallholder farmers in the country.
“Our partner NWK formerly Dunavant has been operating the largest out-grower scheme for small order farmers in the country which in the in 2012/2013 season grew up to 160,000 farmers growing about 200,000 hectares,” he said.
At the same function, Mr Simuusa said Government was disappointed by the private sector’s?inadequate participation in the crop marketing in the country.
“Let me take this opportunity to urge  players in the market to participate in buying and stocking up their maize requirements as the Food Reserve Agency (FRA) will only be offloaded primarily on the export market and in the domestic  market  when need arise,” he said.
Mr Simuusa added that the balances for farmers who supplied maize to the FRA would be settled soon.
The minister was apparently reacting to ZNFU second vice president Graham Rae who had earlier appealed to the Government to pay the affected farmers quickly to enable them purchase?inputs.
“Up to date only 20 per cent of the farmers have been paid the money, this will affect production if the Government does not act quickly,” Mr Rae said.

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