The National Savings and Credit Bank (NATSAVE) has in the last two years disbursed about K15 million under the Bunjimi Asset Plus scheme in the agriculture sector.
The Bunjimi Asset Plus is a nation-wide partnership between NATSAVE and the Zambia National Farmers Union which provides loan facility to empower farmers with tractors, planters, rippers and ploughs among other farm equipment.
NATSAVE managing director Cephas Chabu said the bank is committed to promoting the growth of the agriculture sector by providing credit services that empower farmers and enable them to increase production.
In an interview on Monday on the side-lines of the commemoration of the 2016 World Savings Day dubbed ‘A better life through savings – Open your account now’, Mr Chabu said agriculture has the potential to stimulate economic growth, create employment and, ultimately, reduce poverty if well managed.
“As you know, agriculture is the in-thing now, because without agriculture it will be difficult to diversify the economy. From 2014 to date, we have disbursed about K15 million. We have seen people having high yields and these farmers eventually starts to save and become our customers.
“We also have the macro- finance programme and we have disbursed about K5 million. Under this programme, people come in small groups to borrow so that they can develop as individuals. This initiative is growing at a very rapid pace and each time we open a new branch, we ensure that we roll out the macro- finance programme,” he said.