11 April 2016

Zambia: UBA Injects U.S $25 Million in Agro Sector

THE United Bank of Africa (UBA) has invested over US$25 million in Zambia's Agriculture sector in the last three months of 2015 to support diversification programmes and grow the country's economy.

UBA chief executive officer Stanley Ugwueze said the Bank had supported the country's agriculture sector by providing financial services of up to $25 million between October and December last year.

Mr Ugwueze said in an interview that UBA had been investing through the support of local people that were involved in agriculture supplement and input support programmes in the country.

"We have supported the agriculture sector up to about $25 million through supporting people that are involved in agriculture supplement and input support programmes. We are providing various forms of support and guarantees for them and we hope we can do more this year," Mr Ugwueze said.

He said the bank had been involved in every sector of the economy since inception.

"Since we came into Zambia, we have been involved in every sector of the economy, be it agriculture, mining, construction and manufacturing.

"We are in general commerce and our customers cut across all sectors. We have been providing financial services in form of loans and guarantees in form of advice for all our customers," he added.

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