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Standard Bank plans $100m farmers' funding

Aug 27 2010 14:55 Reuters

Company Data

Standard Bank Group Ltd [JSE : SBK]

Last traded R113.00
Change R-0.10
% Change -0.09%
Cumulative volume 3.20m
Market cap R179.93bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Standard Bank Group [JSE:SBK] will provide $100m to farmers in four African countries in the next three years to help boost agricultural production and economic growth, CEO for Africa Clive Tasker said on Friday.

Tasker said the bank would offer credit to farmers in Uganda, Ghana, Mozambique and Tanzania, under a pilot scheme agreed with some institutions to enable some African farmers to grow export crops.

"This scheme will disburse loans to small-holders of up to $100 million over the next three years and will potentially benefit up to 750 000 small-scale farmers," Tasker told Reuters in an interview.

Tasker said the bank was also planning a broader financing scheme for other farmers in Africa and would consider projects that aimed at raising production of cash crops.

 
 
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