(Ecofin Agency) - Industrial Development Corporation of South Africa Ltd (IDCSA) approved $30 million in financing to the Agricultural Bank of Zimbabwe (Agribank) to support the agricultural sector. The resource will mainly be directed to firms specialized in fertilizer production as well as soya, milk and oilseed oil production companies.

According to Sam Malaba, Agribank's MD, this credit line will also help increase foreign exchange income to boost economy. Let’s note that earlier this month, agribank received $10 million from the African Export and Import Bank (Afreximbank).

Chamberline Moko