CBZ opens $35m AMA bills

ZIMBABWE’S largest bank by deposits CBZ is back on the market seeking $35 million in Agricultural Marketing Authority (AMA) bills to finance the current soya beans cropping season as liquidity constraints continued to beset the economy.

In a statement yesterday, AMA announced it had plans to issue up to $35 million worth of bills to finance the production of soya beans in the 2013-2014 season through CBZ Bank.

AMA, according to the statement, said the bills had a tenure of 272 days and had an interest rate of 10,5% per annum.

This story is for NewsDay subscribers.