Farmers Union To Approach Banks Over Use Of 99-Year Leases As Collateral

The Zimbabwe Commercial Farmers Union (ZCFU) has said that it is negotiating with the Bankers Association of Zimbabwe (BAZ) over the use of 99-year leases. The farmers want the banks to allow the leases to be used as collateral to get loans. ZCFU Matabeleland North provincial chairman Mr Winston Babbage said,

Well, we are negotiating with a lot of banks and collateral is an issue and we are taking up the issue with the BAZ and see if the 99-year lease becomes acceptable. BAZ is saying it has passed but the banks are not willing to agree on it.

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