Insurance companies, pension and provident funds targeted for $80 mln AMA Bills
Insurance24 reporter
HARARE, Financial advisor in the $80 mln Agricultural Marketing Authority (AMA) Bills, CBZ Holdings is inviting insurance players among other investors to subscribe for the bills, it said in a statement.
AMA intends to issue the bills to raise finance for the purchase of maize for the 2017 buying season through the Grain Market Board.
“CBZ Holdings Limited as the Financial Advisor hereby invites investors including but not limited to pension and provident funds, insurance companies , life mutuals , commercials banks and other interested institutions as well as individuals to subscribe for the AMA bills, “ says CBZ.
The AMA Bills have an interest rate of 7.5% per annum, and the offer opens in 24 July 2017 for tenure of 360 days.
Apart from having government guarantee as security, the AMA bills also have special features that include prescribed Asset Status, Liquid Asset Status and Tax Exemption Status.
Zimbabwe is expecting over 2.5 million metric tonnes of maize from the 2016/17 agricultural season, which is more than the annual requirement of 2.2 million tonnes.
