adminAGRIBANK officials say there is a need for Government to recapitalise the bank to guarantee success of the land reform exercise.
The bank’s chief executive officer Sam Malaba said the US$4 million allocated to them by Treasury in the 2014 national budget was inadequate.
The bank, he said, had requested US$50 million. Malaba made the remarks when he appeared before the Parliamentary Portfolio Committee on Lands, Agriculture Mechanisation and Irrigation this morning.
The committee is chaired by Mbire legislator David Butau (Zanu-PF). “We had submitted a case for recapitalisation of the bank and what we received in the budget was an allocation of US$4 million. The bank is under-capitalised and requires urgent capitalisation,” said alaba.
MPs said they would push for the recapitalisation of the bank to ensure success of the land reform exercise. — BH24
Online Reporter