Banking sector failing to fund agriculture

The Banking sector is facing challenges in providing adequate funds to support agricultural production, a senior bank executive has said.

Speaking at the official launch of the Food and Nutrition Security Policy last week, Bankers Association of Zimbabwe vice-president Sam Malaba said the banking sector should be more innovative in efforts to meet the financial requirements of farmers.

Malaba said the total deposits in the banking sector as of Thursday were about $3,8 billion, with as much as 87% being short term transitory deposits.