Nedbank’s Zimbabwe Unit to Lend $65 Million to Tobacco Farmers

(Bloomberg) MBCA Bank Ltd., a unit of South Africa’s Nedbank Group Ltd. (NED), will lend $65 million to Zimbabwean tobacco farmers this year, spokeswoman Dedrey Mutimutema said.
“These lines of credit have been structured in such a manner that they will fund the entire value chain in the production of green-leaf tobacco,” Mutimutema said in an e- mailed statement from Harare, the capital. “The funds will cover input financing, grower financing, processing, export logistics as well as export debtors.” Continued