Government increases SAFF loan by over 600%

Government has increased the Sustainable Agriculture Finance Facility (SAFF) loan by over 600%, taking it from K70,000 to K500,000.

The SAFF is a market-based initiative for tailor made financing to the agriculture sector especially for small and medium scale farmers who have limited access to affordable financing. It is run by the Ministry of Agriculture and supported by the Zambia Credit Guarantee Scheme with more than 23,000 farmers accessing funds.

It was introduced in the 2023/2024 farming season in all the ten provinces by providing seasonal loans and financial services for maize production, with soya beans and wheat financing expected to commence in subsequent years. Going forward, the credit window will also cover farmers who will be cultivating more than five hectares.

Speaking at Farmers’ Day celebrations Minister of Agriculture Reuben Mtolo said that the increase is intended to enhance crop production and improve the livelihoods of farmers. He also urged farmers to adapt to climate change to ensure better preparation for changes in weather patterns.

The Minister advised farmers under the Farmer Input Support Programme to continue selling their maize to the Food Reserve Agency (FRA).