ZNFU, NATSAVE launch financial facility


THE Zambia National Farmers Union (ZNFU) has partnered with the National Savings and Credit Bank (NATSAVE) to launch a financial facility which will enable small-scale farmers access affordable finance.
Meanwhile, Minister of Agriculture and Livestock Robert Sichinga urged farmers to grow crops according to their ecological zones to enable them produce high yields and increase income generation from crops.
Officiating at the farmers evening gala at Mulungushi International Conference Centre in Lusaka on Tuesday, Mr Sichinga said framers should diversify from growing maize to other crops that have a favourite growing environment in each particular area.
During the event, ZNFU and NATSAVE signed a memorandum of understanding (MoU) to promote small-scale farmers through the launch of the financial facility dubbed “Bunjimi Asset Plus Scheme”.
ZNFU second vice president Graham Rae said the launch of the facility will also increase productivity and income for farmers especially that the cost of doing business in the country is high.
“The collaborative effort between ZNFU and NATSAVE through the launch of the Bunjimi Assets will enable small-scale farmers and emergent farmers access financing at affordable rates.
The scheme will specifically benefit small-scale farmers by increasing productivity and income,” Mr Rae said.
ZNFU will raise awareness and coordination of the asset finance scheme activities among farmers and agro-processors.
Mr Rae said the union will also help facilitate and ensure documentation needed is availed by the farmers.
At the same event, NATSAVE managing director Cephas Chabu said the bank will provide the actual finance that will enable farmers acquire the required generation assets.
Mr Chabu said the bank is pleased to work with ZNFU in a gesture to address challenges being faced by farmers.
“NATSAVE is pleased be part of the solution to farmers as you are aware finance access has always been a challenge for farmers, the scheme will enable farmers’ access finance through the Bunjimi scheme,” he said.