Civil Engineer: Contract (Hwange)

Auto Electrician (Hwange)

Attachee: Sales and Marketing (Harare)

Planning Officer (Bulawayo)

Receptionist (Harare)

Semi-Skilled Cook (Chipinge)

IT Officer

Human Resources Officer

Stores Assistant

Project Coordinator

Graduate Trainee: Agronomy (Chisumbanje)

Estimator – Auto Body Centre Harare

Apprenticeship Trainee- Millwright

Graduate Trainee Program (Traineeship)

Students On Attachment (Various Departments)

Information Technology Graduate Trainee (Chisumbanje)

Counselor

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Sales Agents x50

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Payroll Clerk (Harare)

Library Technical Assistant

Assistant Binder

Broadcast Technician

Research, Innovation and Industry Linkage Officer (RIILO)

Safety, Health and Environmental (SHE) Officer

Procurement Officer

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Research Officers x2

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Innovation Lead (Engineering)

Innovation Lead (Arts & Creative Industries)

Innovation Manager

Public Health Specialist: Prevention, Care & Treatment (Harare)

Director General (Harare)

A five-man gang used explosives to blow open a safe at the Agribank Lupane branch, resulting in one suspect, identified as Zenzo Siziba, being shot and arrested by the police.
The incident occurred in the early hours of Tuesday last week, and the suspect is now recovering in St. Luke’s Hospital under police guard. According to police national spokesperson Assistant Commissioner Paul Nyathi, the gang may be linked to other robbery cases, and investigations are ongoing. Nyathi said:
<blockquote>
It’s a case of armed robbery which we are investigating which occurred at Agribank in Lupane when five suspects attacked a security guard and blew open a safe. They were however, ambushed by police officers before they took the money.
The suspect has been identified as Zenzo Siziba and we are still investigating. There is no going back in the fight against armed robbers.
</blockquote>
The suspect has been charged with armed robbery in aggravated circumstances and was remanded to July 12 by a Lupane magistrate.
A member of the bank’s security team heard the alarm ringing and went to investigate, but he was ordered to leave the scene by three accomplices who emerged from the darkness and produced a gun. The security guard ran away and hid, and the police arrived on the scene after being alerted by the bank manager.
The suspects fled, and the police officers fired three warning shots during which one of the suspects, Zenzo Siiba, was shot and subsequently arrested. The police recovered a satchel that contained two computer hard drives, three used capped fuses, one dynamite, a screwdriver, hammer, and shifting spanner. The hard drives were identified as belonging to Agribank. The suspects had used a hammer to break the bank door and damage the CCTV.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Pindula News

Gang Blows Open Agribank Safe, Suspect Shot And Arrested

President Emmerson Mnangagwa Friday launched the Agricultural Finance Company (AFC) Holdings, formerly Agribank.
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The AFC Holdings has four subsidiaries: AFC Commercial Bank, AFC Insurance, AFC Land and Development Bank, and AFC Leasing Company.
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The new institution will provide funding across the whole agriculture value chain from communal to large-scale farmers.
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In his remarks, the President said AFC Holdings was premised on playing a strategic and pivotal role within the Agriculture industry.
Speaking at the same event, Finance and Economic Development Minister, Professor Mthuli Ncube said the restructuring of the AgriBank into AFC Holdings was achieved through hard work adding that it has been a long journey.
Ncube said $700million was the initial capital injected into the AFC Holdings adding that the Reserve Bank of Zimbabwe (RBZ) is committed to supporting the bank.
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<h4>More: <a href="https://zero.pindula.co.zw/">Pindula News</a>; <a href="https://www.chronicle.co.zw/just-in-president-launches-afc-holdings/">Chronicle</a></h4>
</div>

President Mnangagwa Launches AFC Holdings, Formerly Agribank

An Agribank employee is under investigation by police detectives after he reportedly transferred $11 000 from a bank account belonging to a city company, Riskev Holiday, into an AFM church bank account without the knowledge of the company officials.
When questioned about the unauthorised transfer, the employee, Kennedy Matimbura, said the $11 000 was a tithe.
The company officials also later noticed that transactions of $83 000, $15 000 and $640 had also been siphoned from their bank account in yet unclear circumstances.
Police confirmed the incident on Wednesday.
<h4>More: <a href="https://www.hmetro.co.zw/police-investigate-bank-employee/" rel="noopener noreferrer" target="_blank">H-Metro</a></h4>

Agribank Employee Siphons $11k From Company Account To Pay 'Tithe'

After President Mnangagwa’s announcement that <a href="https://news.pindula.co.zw/2020/08/26/we-are-turning-agribank-into-a-land-bank-for-farmers-ed/">the Agribank will now be turned into a land bank that will offer technical and financial support to farmers</a>, The Brett Chulu Column in the Zimbabwe Independent sought to explore how the land bank will ensure that it has high-quality borrowers.
The columnist opined:
<blockquote>Today’s instalment explores ways in which a land bank in Zimbabwe can be made to work. This article is not looking at how the land bank should be funded. It looks at the more critical issue: how can the proposed land bank ensure it books quality assets (high quality borrowers)?
It would be naive to expect government to let the private sector have a controlling stake in a land bank given the political sensitivity of agriculture in Zimbabwe. Political influence will have to be taken as an environmental factor that must shape an appropriate strategic response.
The first hurdle the land bank must clear is lack of securitisable assets from virtually every farmer in Zimbabwe, except for the few black farmers who have titled land where government has issued Certificates of No Present Interest.
Statistically, 90% of farmers in Zimbabwe are from old resettlement areas, communal areas and A1 farms. These do not have land rights that are acceptable as collateral by commercial banks. About 95% of the national herd is in the hands of these same farmers.
Apparently, these same farmers account for 70-80% of Zimbabwe’s grain production. Historically, non-titled black farmers produced most of our grain in the post-Independence era before and after the fast-track land reform programme.
Statistics on Command Agriculture show that on average, non-Command farmers produced 65-70% of our grain. non-Command Agriculture farmers are mainly the same cohort of farmers alluded to before (non-A2). They managed to out-produce A2 farmers in terms of total output but without titled land.
This dominant cohort is the one that gave the Agriculture Finance Corporation (AFC), Agribank’s immediate predecessor financial challenges as the AFC made loans of small amounts to about 100 000 farmers. These farmers were given token loans by the AFC for inputs based on a track record of output. To get around this challenge of issuing loans supported by disproportinately high economic costs, the land bank should treat the non-A2 farmers as business people, not as some charity cases that should be pitied upon. It is not true that these farmers have no securitisable assets; they do.
They have biological assets in the form of livestock such as goats, sheep and cattle. We need to look no further than the ancient Near East culture — the wealthiest people were so-called based on the biological assets they held. In the Bible, notable figures classed as fabulously wealthy such as Abraham, Isaac, Jacob, Job and Nabal had their wealth anchored on biological assets.
We know that 90% of Zimbabwe’s national herd is in the hands of these non-A2 farmers — that is serious wealth. That wealth is private property and therefore is transferrable and tradable. The land bank has no option but to consider goats, sheep and cattle as securitisable assets against which they can lend money to farmers.
All that is needed is a mental shift. If we do not, history will record that whereas the Union Jack came down in 1980, it remained flying at full mast in our minds. The land bank can form a subsidiary in agro-business that holds these assets. These biological assets grow by way of multiples — essentially they are top quality assets that behave like loans themselves — but infinitely better. The livestock deposited as security can potentially give birth (this is like interest). If the land bank treats non-A2 farmers as respectable business people, the bank will unlock a very profitable clientele that needs no subsidies and hand outs from government.
On the basis of biological assets, the land bank can issue medium-term loans for critical farming infrastructure such as boreholes, weirs and off-grid power solutions. A dedicated water and off-grid power infrastructure fund is needed to allow non-A2 farmers build powerful water and power infrastructure. This will allow non-A1 farmers to climate-proof their production and increase their productivity.
The second hurdle to be overcome by the land bank is dealing with A2 farmers. These have the largest farms but have no transferrable or tradable land rights. To a large extent, it can be argued that A2 farmers are the direct replacement of former white commercial farmers.
The AFC, from its inception on April 1, 1971, dealt with a business cohort of tested commercial farmers with a proven track record of production. This cohort presented lending business opportunities for the AFC within acceptable risk levels. Even post-Independence, the titled commercial farmers were the most profitable cohort for the AFC. Post-2000, A2 farmers presented a business risk beyond the commercial lending risk appetites and benchmarks for two reasons. First, land reform made land as securitisable asset redundant.
It must be noted that the post-Independence AFC competed with commercial banks for the commercial farmers due to the high quality credit ratings of the commercial farmers. The high quality commercial farmers were a result of market selection from the 1920s — the white farmers who failed at farming were exited from the agro-business and those that survived did so because of business ability, skill and accumulated experience.
Post-2000, A2 farmers were selected by a political mechanism and are still being retained by a non-market mechanism. Commercially speaking, bad A2 farmers have not been de-selected. Other A2 farmers have farm sizes that do not match their skill levels. This is the cohort that will give the land bank the biggest business headache. It is a reversal of trends; commercial farmers were the best clientele for the AFC while non-A2 farmers were the more problematic business segment.
What is the best way around this sad reality? There are two realistic options that can be combined. The third option is not viable under our current political circumstances. First, the land bank should treat A2 farmers the way the AFC did to the non-commercial farmers. The land bank has to lend A2 farmers based on a track record of output.
Admittedly, this will limit the loan amounts they will be issued. These A2 farmers have already benefitted from non-market government farming schemes and they are expected to have some of the equipment they got. These benefits should reflect in their production records.
The second option is for the land bank to accept biological assets owned by A2 farmers as securitisable assets. The risk of default should fall on A2 farmers, not the taxpayer. The third option is making the 99-year leases marketable. That would allow the market to exit unsuccessful A2 farmers and select productive farmers. This third option is not within the control of the land bank; the land bank cannot strategise on promises of making A2 farm leases transferrable — it will be strategic naivety.
In short, the land bank should lend to both non-A2 and A2 farmers based on biological assets and a track record of production. Farming is a business. Business people are not charity cases. As such, the land bank cannot be a charitable organisation.</blockquote>
Source: <a href="https://www.theindependent.co.zw/2020/08/28/making-a-land-bank-work-for-zim/">The Zimbabwe Independent </a>

OPINION: How Can The Proposed Land Bank Ensure It Books Quality Assets - Zimbabwe Independent Columnist

President Mnangagwa while launching the Agriculture Recovery Plan said the government will turn the AgriBank into a Land Bank capacitated to offer technical and financial support to farmers in order to promote agriculture and end food insecurity in Zimbabwe.
This was unveiled while the President was launching the Agriculture and Food Systems Transformation Strategy when he said:
<blockquote>Having observed a financial gap in our agricultural sector, government has transformed the business architecture of Agribank, turning it into a land bank for all farmers .The bank will provide comprehensive financial and other technical services to farmers as well as supporting all projects aimed at promoting private and community based agriculture and food system value chains.
This intervention further seeks to strengthen the development of rural industry systems, broaden small holder farm mechanisation, improve yields, reduce post harvest losses, increase exports and enhance food nutrition among other elements.</blockquote>
He urged beneficiaries of the land reform to responsibly utilise the facility and said:
<blockquote>I thus exhort all beneficiaries of the land reform programme to ensure responsible utilisation of the land bank to enhance overall land productivity.</blockquote>
More: <a href="http://newziana.co.zw/2020/08/26/agriculture-transformation-strategy-launched/">New Ziana </a>

We Are Turning AgriBank Into A Land Bank For Farmers - ED

The Agricultural Bank of Zimbabwe has temporarily closed its branch in Maphisa, Matobo District, in Matabeleland South after one of its employees tested positive for coronavirus.
The temporary closure of the Maphisa branch is to allow disinfection to be conducted at the premises. Agribank said in a public notice:
<blockquote>One of our staff members at Maphisa tested positive for Covid-19 following a routine test. The employee is stable and is now under isolation.
The local Covid-19 rapid response team is now handling the matter as prescribed by the Ministry of Health and Child Care and the World Health Organisation guidelines.
Accordingly, a decision has been made to temporarily close the Agribank Maphisa branch to allow disinfection to be conducted at the premises.</blockquote>
Agribank said that the rest of the staff at the branch will also undergo polymerase chain reaction (PCR) tests to establish their status and have with immediate effect proceeded to go into the mandatory 14-days self-quarantine.
The bank added that the date for the re-opening of the branch will be advised in due course after consultation with the local Covid-19 rapid response team.
<h4>More: <a href="https://www.chronicle.co.zw/agribank-closes-maphisa-branch-due-to-covid-19/" rel="noopener noreferrer" target="_blank">Chronicle</a></h4>

Agribank Shuts Down Maphisa Branch Due To Corona

Agribank and Infrastructure Development Bank Of Zimbabwe are now officially off the sanctions list, The Herald reports, The development that will allow the banks to do international business with other firms and access lines of credit from other institutions was announced by the American Department of the Treasury.
Addressing the issue, Finance Minister Mthuli Ncube said:
<blockquote>Any removal of any institution, especially a financial one, is very positive indeed. This will help the bank access credit lines and remove any restrictions that pertain to Know-Your-Customer challenges, which is really what happens when a bank is in the spotlight. Now that they (sanctions) have been lifted, the banks will find it easier to do business going forward. So this is a very welcome development indeed.</blockquote>
The banks were put under sanctions in 2008, and some conditions were relaxed in 2013.
More: <a href="https://www.herald.co.zw/two-zim-banks-off-sanctions-list/">The Herald </a>

Agribank & IDBZ Off The Sanctions List

Zimbabwean farmers will very soon access farming equipment in the form of tractors, combine harvesters and disc harrows as the government awaits the delivery of the equipment under the John Deere loan facility, The Herald reports.
The equipment will be in Zimbabwe next week according to the Information Minister <a href="https://www.pindula.co.zw/Monica_Mutsvangwa">Monica Mutsvangwa</a> who said:
<blockquote>Minister Shiri informed Cabinet that equipment for assembling tractors, combine harvesters, disc harrows and planters under the John Deere facility is expected to arrive on 18 March, 2020. Farmers can access them through<a href="https://www.pindula.co.zw/Agribank"> Agribank</a>.</blockquote>
Agriculture Minister has assured farmers that the interest rates for the equipment will be reasonable and there will be no favouritism in distribution.
More: <a href="https://www.herald.co.zw/farmers-to-access-us50m-john-deere-tractors/">The Herald</a>

Farmers To Acess Farming Equipment Under The US$50 Million John Deere Facility - Report

Sam Malaba, Agribank chief executive officer (CEO) has retired after 16 years at the helm of the financial institution. Malaba joined Agribank from The Reserve Bank of Zimbabwe where he served for 6 years (from August 1998 to April 2004) as the Deputy Governor.
His retirement was announced in a letter which read in part:
<blockquote>We wish to advise that Somkhosi Mahamba Temba Malaba retired from the position of chief executive officer for the bank effective 31 January 2020.
Elfas Chimbera, the executive director finance, will be acting as the CEO of Agribank effective February 1, 2020 pending the appointment of a substantive CEO.</blockquote>
Before his appointment to the post of Deputy Governor of the Reserve Bank of Zimbabwe, Malaba had worked for 16 years at different senior levels within the Central Bank.
Mr Malaba is an economist who obtained a Bachelor of Science in Economics degree from the University of Zimbabwe and he also furthered his studies in the United Kingdom.
More: <a href="https://www.herald.co.zw/agribank-ceo-malaba-retires/">The Herald</a>

Malaba, Agribank CEO Retires

<a href="https://www.pindula.co.zw/Agribank">Agribank</a> workers have reportedly started to demand that their employer peg their salaries against the interbank rate. They have complained that the cushioning allowance they are receiving is not addressing their needs, Newsday reports.
A communique published by NewsDay reads in part:
<blockquote>…We also want to acknowledge the effort which the employer is making by giving a hardship allowance. However, these efforts are not adequately addressing the plight of the employee which is mainly caused by the inflationary environment which the country is experiencing.
The prevailing economic hardship in the country is affecting the social welfare of Agribank workers. Transport, food accommodation, medical, clothing and (school) fees have increased by more than 900%.The government, in its mid term budget review, has increased most services by more than 500%</blockquote>
The least paid Agribank employee reportedly pockets $936. The workers have complained that they have resorted to borrowing transport, rentals, food, medical expenses and general upkeep funds because of the mismatch between earnings and obligations.
More: <a href="https://www.newsday.co.zw/2019/10/agribank-workers-seek-us-indexed-salaries/">NewsDay</a>

Agribank Workers Demand Interbank Rated Salaries - Report

The government of Zimbabwe has set conditions for farmers who want to access <a href="https://www.pindula.co.zw/Command_Agriculture">Command Agriculture</a> inputs. The conditions were revealed by Agriculture Minister who said the govt had partnered with Agribank, Stanbic, CBZ and Empowerbank to disburse the funds.
Said Minister <a href="https://www.pindula.co.zw/Perrance_Shiri">Shiri</a>:
<blockquote>
These banks shall support A1, A2 and other large-scale farmers into soya bean and maize production. Interested farmers both new and old with a proven track record should approach their local district Agritex offices for registration, vetting and contracting for production
Collateral is not required as the verification would have been done by the Ministry of Lands, Agriculture, Water, Climate and Rural Resettlement. The tenure of the loan is 270 days at an interest rate of 10,5 percent per annum and an upfront fee of 2,25 percent.
The programme will avail inputs through an electronic voucher system administered through the bank and inputs will be provided at district level through suppliers, stockists and agents as will be advised by the bank during the contracting process
</blockquote>
Command Agriculture program is seeing its 3rd season since its inception in 2017.
More:<a href="https://www.herald.co.zw/command-agric-govt-sets-funding-conditions/"> The Herald</a>

Government Sets Command Agriculture Funding Conditions

Agribank has approached the courts seeking to recover a real time gross settlement of a (ZWR) $33 720 loan advanced to former Finance minister Ignatius Chombo.
Chombo was given the loan six years ago. He was issued with the court summons recently and is yet to respond to the litigation.
Agribank says Sometime in January 2013, Chombo was granted a loan facility of US$30 000. In terms of the facility agreement he was supposed to settle the debt by October 31, 2013.  Said the Agribank:
<blockquote>In terms of the loan facility agreement, payment of the full amount fell due on October 31, 2013. Penalty interest began to run at the rate of US$18 per annum from the date of maturity. In default and, therefore, in breach of the agreement between the parties, the defendant has failed to pay the capital sum and interest thereon in the sum of ZWR$33 720,55.</blockquote>
Just recently, the High Court dismissed Chombo’s application for permanent stay of prosecution in a matter in which he is facing a number of criminal cases involving corruption, fraud and criminal nuisance.
More: <a href="https://www.newsday.co.zw/2019/03/agribank-sues-chombo-over-33-000-loan/">NewsDay</a>

Chombo Taken To Court By Agribank

Agribank and FBC will be issuing AgroBills to raise $20 million dollars for crop production in the 2017/18 season.
In a joint statement the two banks said they were:
<blockquote>grateful for the support they have always received from investors, including but not limited to pension and provident funds, insurance companies, life mutual, commercial banks and other institutions, as well as the investing public.</blockquote>
The AgriBills have a government guarantee and they will be issued for a period of 270 to 360 days. They have prescribed asset status, liquid asset status and tax exemption.
More: <a href="http://www.herald.co.zw/agribank-fbc-to-raise-20m-agro-bills/">Herald</a>

Agribank and FBC to issue AgroBills to raise $20m for crop production

A popular outdoor bar in Waterfalls, Harare, Zindoga Bottle Store was auctioned last week at the Raylton Sports Club through Marias Valuation and Estate after the owners failed to settle an undisclosed Agribank loan.
According to a notice by the auctioneers, the sale of Zindoga was part of other 17 immovable properties whose owners owe millions of dollars in unpaid loans. The bar is near Walter Magaya’s Prophetic Healing and Deliverance Ministries church and at one time the owners took the prophet to court to stop him from using the name Zindoga when advertising his services, a move that Magaya complied with.
More: <a href="http://www.newzimbabwe.com/showbiz-36855-Popular+Harare+pub+under+the+hammer/showbiz.aspx">NewZimbabwe.com</a>

Zindoga Bottle Store auctioned after owners fail to settle Agribank loan

State owned farming development institution Agribank posted a $4 million profit for the year 2016. Agribank joined other banks in making a profit in 2016 after posting losses for the past 7 years. The bank was also helped by the fact that the government gave the institution a $40 million capital injection.
Speaking to ZBC News, the bank’s chief executive officer Mr Sam Malaba said:
<blockquote>There is more that can be done to unlock growth opportunities for the bank and enhance liquidity portfolios in the future</blockquote>
More: <a href="http://www.zbc.co.zw/2017/03/27/agribank-returns-to-profitability/">ZBC News</a>

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