AMA to float $75m bills for maize purchase

HARARE - The Agricultural Marketing Authority (AMA) has plans to float bills worth $75 million to purchase maize grain for the 2018 buying season.

In a press statement yesterday, AMA and CBZ Holdings Limited invited investors to subscribe to the AMA Bills.

“The Agricultural Marketing Authority (AMA) intends to issue AMA Bills of up to $75 million to finance the purchase of maize grain for the 2018 buying season through the Grain Marketing Board. CBZ Holdings as the Financial Advisor hereby invites corporate and individual investors to subscribe to the AMA Bills,” read the statement.

“Applications must be for a minimum of $5 000 and in multiples of $5 000 thereafter. Copies of application forms are available from the Investment Banking Division, 3rd Floor, Union House, 60 Kwame Nkrumah Avenue, Harare, or can be emailed on request.”

In the statement, the issuing of the $75 million bills was scheduled to start on September 13, 2018 and at an interest of 7 percent per annum.

During the same period last year, AMA floated $80 million worth of bills to finance the buying of local maize for the 2017 buying season.

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