Land bank denies abandoning farmers

HARARE - The Land Bank has denied reports that it is abandoning farmers in favour of short-term lending on the lucrative money market, saying it was only diversifying its activities into other sectors of the economy. The denial came amid shrill calls by new farmers that they have been neglected by t

he bank since it became fully commercialized. They said some of the farmers who had been dealing with the financial institution for years were now failing to secure loans for their farming operations, despite having maintained a clean record in repayments and also armed with government’s 99-year leases. “It is not true that we are neglecting one section of our customer base in preference of the money market,” said the bank in a statement.
A spokesman insisted the bank was actively assisting its traditional customers (farmers) through facilitating the Reserve Bank of Zimbabwe Agriculture Sector Productivity Enhancement Facility and was now actively working with them on the productive sector facility – again extended by the Reserve Bank of Zimbabwe.

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