Govt injects K300 million into Public Service Micro Finance Company to increase agric production

President Hakainde Hichilema says government has injected an initial K300 million into the Public Service Micro Finance Company (PSMFC).

Hichilema said this was to ensure increased agricultural production in the coming farming season.

The President, who said this on his official social media handle in Lusaka on Monday, noted that the loans were offered at just nine percent interest rate per annum.

He said through the PSMFC, government had increased funding for loans to public service workers, specifically for the acquisition of farming inputs, all forms of livestock, and other mechanisation equipment.

“For the first time, our brave men and women in uniform have also been given access to these empowerment funds too,” he said.

Hichilema urged the beneficiaries of the facilities to consult widely and to acquire the correct farming materials, as government works to increase agriculture production across the country.

“Let’s use every inch of land in our country and increase production of different crops all year round,” he said.

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