Zimbabwean Apex Bank to Raise $2bn for Farmers

NMB Bank Limited says it will raise up to $2 billion through a private placement of a 12 month Agro Bill for onward lending to farmers for the 2021/22 agriculture season. <br />The government is aiming to achieve a US$48,2 billion agriculture economy by 2025 riding on the Agriculture and Food Systems Transformation Strategy, which seeks to achieve the targeted growth by 2025. <br />NMB in a circular says the $2 billion Agro Bill will support new and existing commercial farmers on its loan book for the current season. <br />NMB Bank will act as the placement agent regarding the Transaction and will distribute this Information Memorandum to a limited number of recipients for the sole purpose of assisting those recipients in deciding whether they wish to proceed to purchase the Bills.