Business

AB Bank trains agro-specialists, pays K300,000 loans

NANCY SIAME, Lusaka
AB Bank Zambia has hired and trained its first team of agricultural lending specialists and has disbursed more than 32 agro-loans totalling over K300, 000.
The bank recently launched the loan facility for agricultural loans to small-holder farmers starting from as low as K3, 000.
Agricultural banking group leader Jonathan Chola said the initiative is for both small-scale and commercial farmers.
“The aim of the bank is to reach out to as many clients as possible, as well as meet their needs,” he said.
Mr Chola said the bank conducted a feasibility study to know what customers needed and the agricultural loan was found to be one of them.
He said this loan facility operates within 50 kilometres of the bank’s location.
Mr Chola said the facility has so far received overwhelming response from farmers in Chongwe, Shimabala, and Lilayi. The facility will soon be extended to other towns.
“All the farmers that want to expand their farming activities are free to come to us and we will be at their service,” he said.

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