ZANACO reportedly processes over K5 billion in Food Reserve Agency payments to farmers

ZANACO says it has processed payments amounting to more than K5 billion on behalf of the Food Reserve Agency (FRA), covering disbursements to farmers who supplied maize to the agency.

Chief Executive Officer, Mukwandi Chibesakunda, said a total of K5.258 billion has been paid through Zanaco branches, mobile network operators and other financial institutions nationwide.

In a statement issued on Tuesday, Chibesakunda explained that the payments were made in key agricultural districts including Chisamba, Chibombo, Mkushi, Kapiri Mposhi, Kafue and Itezhi-Tezhi.

Other beneficiary districts include Choma, Monze, Gwembe, Mazabuka, Namwala, Chipata, Lundazi, Petauke, Nakonde, Mpika, Kasama, Mungwi, Mporokoso, Kawambwa, Ndola, Solwezi and Senanga.

Chibesakunda said the bank remained committed to putting customers first by supporting government’s efforts to ensure that farmers receive their payments on time.

“To facilitate this process, the bank has extended banking hours in 19 branches and introduced weekend banking services so that no farmer is left behind,” she said.

She added that the bank had deployed Cash-in-Transit solutions to enhance service delivery in remote areas and expanded the use of digital platforms to provide farmers with multiple and convenient payment options.

Chibesakunda also encouraged farmers to take advantage of the available electronic platforms and Cash-in-Transit services in their respective districts.

She said the initiative underscored the bank’s commitment to empowering farming communities and strengthening Zambia’s agricultural sector by ensuring that farmers were paid quickly, safely and securely.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.