By BUUMBA CHIMBULU
FIRST National Bank (FNB) Zambia continues to be a key supporter of the agriculture sector through providing modified banking solutions for the farmers.
The solutions are being made from day-to-day banking requirements to more long-term and complex solutions such as structured lending, according to FNB Zambia Head Business and Commercial, Kabanda Lilanda.
Mr Lilanda said the bank supported export-oriented agribusinesses, which contributed towards the promotion of value addition to agricultural products for export in line with the Zambia’s National Agricultural Policy such macadamia nuts, peppadews and avocado pears.
He indicated that key to the exporting of agricultural products was value addition which in turned realised more revenue for the exporting country as well as creation of jobs in upstream agriculture such as processing.
Over the years, Mr Lilanda said, FNB had been actively participating in initiatives that continuously support the growth of agribusinesses.
“FNB Zambia seasonally finances 1 500 Ha of maize, 3 000 Ha of soya beans, 600 Ha of sugar cane and 4 000 Ha wheat outside traditional crops.
“The 300 Ha of potatoes financed by FNB means that there is a high chance you have enjoyed French Fries from the support we offer farmers– these crops have a conservative estimated value of US$ 25 million,” he said in a statement yesterday in celebrating Farmers Day.
He said though Agriculture accounts for only three percent of National Gross Domestic Product it more than compensates by being the largest employer in the country and through this, FNB Zambia was happy to be a part of ensuring agriculture continued to grow and thrive in the country.
Mr Lilanda stated that the yield numbers from major crops had been impressive for maize and soya beans.
“’With the biting cold as a positive signal, good yields are expected of wheat too. Overall, we expect the full season to show positive numbers for all crops supported by the cold coupled with good rains in the 2020-2021 summer.
“Farmers’ Day 2021 comes off the back of a positive season with a good harvest across major crops,” he said.
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