FINANCIAL SERVICES

Agribank close to securing a strategic partner

Agribank recorded a profit after tax of $4,1 million for the half year to June 30, 2018 compared to $2,2 million recorded last year.THE Agriculture Development Bank of Zimbabwe (Agribank) says it is c...

By Staff reporter | Published: 06 September 2018

FINANCIAL SERVICES

Investors target Agribank

SEVERAL investors have been lined up to snap a significant stake in Agribank, as government moves to recapitalise the financial institution.The agro-focused bank - wholly owned by government - is stru...

By Staff reporter | Published: 26 July 2018

FINANCIAL SERVICES

Agribank secures $30 million for agriculture

AGRIBANK has obtained a $30 million line of credit from the Industrial Development Corporation South Africa (IDCSA) to support the agriculture sector.The facility is favourably priced at Libor +8,9 pe...

By Staff reporter | Published: 22 July 2018

FINANCIAL SERVICES

Agribank disburses $80m to agric

Agribank has so far disbursed over US$80 million to the agriculture sector as it seeks to boost productivity and foreign currency generation.The bank, which has been directed by Government to focus on...

By Staff reporter | Published: 22 July 2018

FINANCIAL SERVICES

Agribank secures $30m line of credit

AGRIBANK has obtained a $30 million line of credit from the Industrial Development Corporation of South Africa (IDCSA) to support the agriculture sector. The facility is favourably priced at Libor +8,...

By Staff reporter | Published: 20 July 2018

FINANCIAL SERVICES

Agribank's net income grows

AGRIBANK's net income is improving, an indication of the financial institution's stability as it can meet its operating expenses from interest, a recent survey has revealed.According to the 2017 Zimba...

By Staff reporter | Published: 15 July 2018

FINANCIAL SERVICES

Agribank splashes $1m on ICT upgrade

AGRIBANK has so far spent $1,1 million on information communication technology (ICT) infrastructure hardware, as it presses ahead with efforts to ensure system stability and provide more functions for...

By Staff reporter | Published: 05 July 2018

FINANCIAL SERVICES

Agribank secures $10m for agric

AGRIBANK has secured $10 million from the Egypt-based African Export-Import Bank (Afreximbank), which will be channelled towards capacitating agricultural exporters and value addition.The bank's chief...

By Staff reporter | Published: 03 July 2018

FINANCIAL SERVICES

Agribank posts $2,9m profit

AGRIBANK has recorded a profit of $2,9 million in the first five months of the year to May 31, 2018, a move that thrusts the agriculture financing institution on a path to more profits by year end.The...

By Staff reporter | Published: 02 July 2018

FINANCIAL SERVICES

Agribank to deploy 10,000 swiping machines

Agribank will deploy 10 0 00 Point of Sale (POS) machines to its merchants and agencies by December 31 2018.Speaking at a media briefing, Agribank's Chief Executive Officer Somkhosi Malaba said 10 000...

By Staff reporter | Published: 11 April 2018

FINANCIAL SERVICES

Agribank NPLs decline

NON performing loans (NPLs) at agricultural lender, Agribank, declined to 13,8 percent during the year ended December 31, 2017, after ending at 21,1 percent during the prior comparable period in 2016,...

By Staff reporter | Published: 04 April 2018

FINANCIAL SERVICES

Agribank offers loans on 99-year leases

AGRIBANK has set aside a minimum of $105 million for the 2018-2019 cropping season, which would be extended to farmers on the basis of collateral and 99-year leases.It becomes the first bank to announ...

By Staff reporter | Published: 02 April 2018

FINANCIAL SERVICES

Agribank eyes external credit lines

AGRIBANK is in discussions to secure an external line of credit from a foreign institution to bolster its support to the agricultural sector beyond the $105 million allocated this year.This comes as t...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Agribank posts $8m profit

AGRIBANK has recorded a profit after tax of $7,9 million for the year to December 31, 2017, representing a 65 percent jump compared to 2016 driven by a surge in non-interest income.Non-interest income...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Agribank's $100m agric kitty

Agribank, the country's premier agriculture finance institution, has mobilised over US$100 million to fund the 2017-18 summer cropping season, which in some cases can be obtained without collateral. T...

By Staff reporter | Published: 08 January 2018

FINANCIAL SERVICES

Agribank trims staff costs

THE Agriculture Bank of Zimbabwe (Agribank) has reduced its staff cost to total income ratio by 25 percentage points in the past two years owing to aggressive cost containment.Minister of Finance and ...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

Agribank lines up $98m agric, export facilities

AGRIBANK has lined up agriculture and export facilities totalling $98 million and about $20 million has so far been snapped up as the bank steps up efforts to play its key mandate of financing agricul...

By Staff reporter | Published: 17 August 2017

LANDS & AGRICULTURE

Agribank injects $10m into Esigodini plant

AGRIBANK has extended $10 million to finance the establishment of a fruit processing plant in Esigodini, Matabeleland South.The commissioning of the project, a brainchild of the late Vice President, J...

By Staff reporter | Published: 09 August 2017

LANDS & AGRICULTURE

Agribank, FBC to raise $20m for agric

STATE-OWNED agro-lender, Agribank and FBC are going into the market to raise $20 million for the 2017/18 agricultural cropping season.This development follows the permission by government last month f...

By Staff reporter | Published: 09 August 2017

FINANCIAL SERVICES

Agribank clinches financial prudence awards

AGRIBANK has been honoured with three awards for its outstanding role in upholding financial prudence.The awards were awarded by the Office of the President (OPC) in conjunction with the Ministry of F...

By Staff reporter | Published: 07 August 2017

FINANCIAL SERVICES

Agribank phases out manual withdrawals

THE Agricultural Bank of Zimbabwe (Agribank) is phasing out manual withdrawals to embrace electronic and mobile banking payments.The bank is upgrading its information and communication technology (ICT...

By Staff reporter | Published: 04 August 2017

FINANCIAL SERVICES

Agribank unveils $70 million facilities

The Agricultural Bank of Zimbabwe (Agribank) has unveiled $70 million earmarked to stimulate export trade and horticulture production.Agribank public relations manager Olam Marufu told the businessdai...

By Staff reporter | Published: 04 July 2017

FINANCIAL SERVICES

Agribank told to seek local partners

Finance Minister Patrick Chinamasa has instructed Agribank to first seek local partners to recapitalise the bank before considering bringing in foreign investors. Agribank  CE Sam Malaba said the...

By Staff reporter | Published: 12 May 2014

FINANCIAL SERVICES

Agribank to be privatised

The government will offload 49% of its holdings in the Agricultural Development Bank of Zimbabwe (Agribank) by year-end through privatisation to recapitalise the institution which urgently requires a ...

By Staff reporter | Published: 27 February 2014

FINANCIAL SERVICES

Agribank needs re-capitalisation

AGRIBANK officials say there is a need for Government to recapitalise the bank to guarantee success of the land reform exercise.The bank's chief executive officer Sam Malaba said the $4 million alloca...

By Staff reporter | Published: 04 February 2014
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