Home Economy CBZ issues bonds to help Zimbabwe with food

CBZ issues bonds to help Zimbabwe with food

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As Zimbabwe prepares for a tough period in its time following poor harvest season, the state’s largest bank CBZ has launched two bond issues to raise money for the food campaign.

The financial company seeks to collect $80.6 million and fund maize as well as soybean farming across the country.

According to the reports, the money will be used on acquiring seeds, fertiliser and chemicals for the crops.

The UN earlier said Zimbabwe was on the brink of widespread hunger with up to 8 million people required food aid. This comes after the country faced a second successive poor harvest this year due to drought and a number of other factors, both natural and human-based.

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