standard chartered bank’s commodity traders and agriculture (cta) assets have this year alone grown by 100 million dollars.
standard chartered bank chief executive officer and managing director mizinga melu has further disclosed that the agriculture sector which is a key contributor to the banks financial performance saw a growth of 47 percent in 2010.
she adds that over the years, standard chartered bank has given priority to the agriculture sector and its lending rate to the sector has grown beyond 250 million dollars.
mrs. melu has stressed that through the financing structures, the bank is able to provide better risk management to ensure security of commodity supply and in the end support its client’s growth aspirations.
she has stated that her bank wants to see a successful agriculture sector because this the only way it can secure its long term sustainability.
mrs. melu was speaking in lusaka when she officially opened a one day structured warehouse finance workshop in lusaka this morning in a speech read on her behalf by head of transaction banking at the bank in zambia, muyunda munyinda