The Agricultural Bank of Zimbabwe, trading as Agribank, evolved from the Land and Agricultural Bank (LAB) of 1924 of the then Government of Southern Rhodesia and through the Agricultural Finance Corporation (AFC) which was established in 1971 by various Acts of Parliament
Agribank currently operates under a legal framework whereby the Government of Zimbabwe owns 100% of the Bank. The Ministries of Finance and Agriculture maintain 50% shareholding apiece in the institution. The Bank is a loan granting and deposit taking development financial institution, subject to the supervision of the Reserve Bank of Zimbabwe. The bank is registered and operates in terms of the Banking Act of Zimbabwe (Chapter 24:20).
In line with its mandate the Bank’s main business is as follows:
The Bank delivers its products and services through ICT channels such as:
In addition to being a fully fledged commercial bank, as an institution owned by the Government of Zimbabwe, over the years Agribank has been Government’s important and primary vehicle for channeling financial resources to agriculture
Agribank shareholders (Government of Zimbabwe) have accepted the need to transform its ownership structure in order to allow for a strategic partner, who once identified, will inject new capital. The Government approved the engagement of a strategic partner for equity offtake by investor/investors.
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