The first batch of the Agricultural Marketing Authority of Zimbabwe (AMA)’s $20 billion agro-bill is ready for subscription after receiving all the requisite regulatory approvals, the authority has said.

For the first batch, AMA says it intends to raise ZWL$5 billion.

The agro-bill is aimed at raising money to fund the purchase of maize.

Said AMA:

“The first batch of AMA ZWL$20 billion agro bill to finance purchase of maize for 2020/21 buying season is now available for subscription.

“Investors can apply for a minimum of ZWL$1 million.”

The agro-bill is a tap issue with an interest rate of 21 percent per annum, and a 365 day tenor.

The bills will be issued through CBZ.

AMA was set up by Government primarily to promote agricultural production of strategic crops such as tobacco, cotton, sugar, soya beans, maize and barley.