Bloomberg News

Agricultural Bank of Zimbabwe in Talks on Loan, Independent Says

April 13, 2012

The Agricultural Bank of Zimbabwe (Pvt) Ltd. is negotiating a $30 million loan from the Industrial Development Corp. of South Africa, the Zimbabwe Independent said, citing a statement.

The Zimbabwean lender, known as Agribank, expects to receive the funds in the second quarter of this year, the Harare-based newspaper said today. State-owned Agribank, which lends to farmers, narrowed losses in the 12 months through December to $286,409 from a loss of $8.1 million a year earlier, it said.

To contact the reporter on this story: Godfrey Marawanyika in Harare via Johannesburg at gbell16@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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