HomeNewsAgribank spends $7m on development programmes

Agribank spends $7m on development programmes


Agricultural Development Bank of Zimbabwe (Agribank) last year used $7,2 million on school development programmes to help the learning institutions develop their facilities and acquire assets, a senior official at the institution said.

BY Stephen Chadenga


Head of retail banking, Divine Ngwenya said the funds are accessed by schools that bank with Agribank and are used for infrastructural development at schools as well as transport facilities.

“Last year we availed $7,2 million in terms of our funding for schools in giving them facilities to buy buses, equipping their laboratories and developing their infrastructure among other projects,” he said last Saturday on the sidelines of the bank’s national schools deposit awards held in Gweru.

“This year, we intend to increase this funding to schools so that we can assist as many schools in development programmes.”

Ngwenya also said the bank was managing a $1 million United Nations Children’s Fund for disadvantaged schools through which they access facilities for infrastructural development.

He encouraged more schools to bank with Agribank to benefit from the fund for schools’ facilities projects.
Meanwhile, schools from Matabeleland South province dominated the schools deposit awards competition that saw winners with more deposits with the bank walking away with money prizes.

St Christopher’s Primary School (Matabeleland South) won the first prize of $10 000, Cheziya High School of Gokwe (Midlands) scooped second prize of $7 500, while Gungwe High School from Matabeleland South was third and walked away with $2 500.

There were also 10 consolation prizes of $1 000 each that saw the majority schools from Matabeleland South winning in this category.

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